Wednesday, April 10, 2024

Video - Nigeria advocates for increased patronage of locally manufactured goods



In a bid to alleviate the country's over-dependence on imports, which has contributed to the devaluation of the Naira against the U.S. dollar, the Nigerian government is championing the consumption of domestically produced goods. However, this initiative faces challenges, with the Manufacturers Association of Nigeria citing the closure of over 700 companies and distress among 300 others due to various hurdles. 

CGTN

Related story: Video - Nigeria manufacturing sector braces for higher production cost

 

Nigeria recovers $24m in poverty minister Betta Edu investigation

Nigeria has recovered 30bn naira ($24m; £19m) as part of an ongoing corruption probe into a suspended minister, the financial watchdog says.

The funds were traced to more than 50 bank accounts, it said.

Humanitarian Affairs and Poverty Alleviation Minister Betta Edu was initially suspended in January over the alleged diversion of $640,000 of public money into a personal bank account.

President Bola Tinubu then ordered an investigation into her ministry.

At the time Dr Edu, 37, denied any wrongdoing. Her office said she had approved the transfer into a personal account, which was not in her name, but said it was for the "implementation of grants to vulnerable groups".

The Economic and Financial Crimes Commission (EFCC) said during its nearly six weeks of investigating so far, it had found "many angles" to examine.

"As it is now, we are investigating over 50 bank accounts that we have traced money into. That is no child's play. That's a big deal," its chairman Ola Olukoyede said in the latest edition of the agency's monthly e-magazine, EFCC Alert.

He urged Nigerians seeking redress to give the agency time to finish its probe thoroughly.

"We are exploring so many discoveries that we have stumbled upon in our investigation. If it is about seeing people in jail, well let them wait, everything has a process to follow," he said.

The EFCC chairman gave an assurance that the recovered funds were "already in the coffers of the federal government".

The suspension of a minister is a rare occurrence in Nigeria.

By Gloria Aradi, BBC

Related story: President Tinubu suspends humanitarian minister in corruption scandal

Tuesday, April 9, 2024

Video - Stock Exchange of Nigeria acquires stake in Ethiopia Securities Exchange



NGX, based in Lagos, and other institutional investors poured large sums of cash into the Ethiopian exchange during its recent capital-raising endeavor. This strategic move aligns with NGX's objectives to expand capital market activities in East Africa and foster cross-border investment flows across the continent.

CGTN

Video - Growing calls for Nigeria government to enforce capital punishment on kidnappers



First Lady Senator Oluremi Tinubu is one of the voices demanding the government aggressively address kidnappings in Nigeria. The country has been plagued by a surge in kidnappings, leaving communities in fear and authorities struggling to contain the crisis.

CGTN

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Nigerian govt unveils mobile app to track MDAs’ performance

The Federal Government of Nigeria has launched a mobile application that allows citizens to track the activities and performance of ministries and government agencies using their deliverables and key performance indicators.

The mobile application, which is tagged: “Citizens’ Delivery Tracker,” was unveiled by the office of the Special Adviser to the President on Policy and Coordination and Head of the Central Coordination Delivery Unit (CDCU), Hadiza Usman, at Transcorp Hilton, Abuja, on Monday, 8 April.

Ms Usman said the new application is an upgraded version of the previous Delivery Tracker, which would provide a strong feedback loop between the government and the people.

Ms Usman speaks

According to her, the CDCU aims to build public trust in the government and promote transparency and accountability at all levels with the delivery tracker.

“In arriving at the deliverables and key performance indicators, the CDCU, supported by development partners and consultants, held numerous bilateral meetings with all the Ministers, Permanent Secretaries, and their respective technical teams over six weeks.

“The bilateral sessions looked at the mandate of the respective ministries in line with the Presidential Priority Areas and arrived at the final deliverable and KPIs,” she said.

Ms Usman listed some of the areas of priority including reforming the economy to deliver sustained inclusive growth; strengthening national security for peace and prosperity; boosting agriculture to achieve food security, and unlocking energy and natural resources for sustainable development.

Others are to enhance infrastructure and transportation as growth enablers; focus on education, health, and social investment as essential pillars of development; accelerate diversification through industrialisation, digitisation, creative arts, manufacturing, and innovation, and improve governance for effective service delivery.

The presidential aide also noted that the CDCU would ensure that data and information released on the app to the public are accurate and credible.

She added: “We are working to ensure that people cannot decline, dodge, or dispute our data. So, we are looking to have data from the NBS and work in collaboration with MDAs to ensure accuracy.

“Part of citizen engagement is for citizens to point out our errors, allowing us to query our own data whether credible or not.

“We are trying to strengthen the NBS’ capacity to ensure credibility. So, that means anything outside of the approved government data will not be recognised. The government needs to invest in data, recognise the need for data integrity, and hold on to that”.

She said the platform is currently available as a web link on the CDCU website and will soon be available as an app for download.

By Beloved John, Premium Times

Related story: Video - AI-powered phone helps Nigerians with visual impairment access information