Connect with us

News

Liaise with National Assembly to facilitate amendment of NDIC Act 2006 — Finance Minister

Published

on

By Matthew Denis Abuja

The Minister of Finance, Budget and National Planning, Dr. Zainab Shamsuna Ahmed has tasked on the Management  of the Nigerian Deposit Insurance Corporation (NDIC) to liaise with the National Assembly to facilitate the amendment of the NDIC Act 2006.

She made the disclosure while inaugurating the new Executive Director (Corporate Services) of the Corporation, Mrs. Emily Chidima Osuji in Abuja on Thursday.

The Minister said, “I congratulate the new Executive Director (Corporate Services), Mrs. Osuji for being found worthy by Mr. President to be appointed to this highly exalted position and for her subsequent confirmation by the Senate of the Federal Republic of Nigeria in line with Section 5(2) and (4) of the NDIC Act, 2006.

“I wish to seize this opportunity to once again draw the attention of the Members of the Board and Management to some of the issues which were highlighted at the inauguration of the Managing Director and the Executive Director (Operations) on 11th March, 2021 to liaise with the National Assembly to facilitate the amendment of the NDIC Act 2006 as the Ministry is ready and willing to assist in any direction.

“Request that the Management would give a special brief on the issues that arose on the recently amended Banks and Other Financial Act (BOFIA) 2020; and  should continue to provide good working conditions and equip staff to carry out the mandate of the Corporation even in difficult circumstances like during the COVID 19 pandemic.

“Members to note that there are guidelines, regulations and Circulars that guide the operation and conduct of Governing Boards of Federal Government Parastatals, Agencies and Commissions and should be strictly adhered to – Frequency of meetings; entitlements of Board members, Travel guidelines and related matters.”

The Minister who inaugurated the Executive Director (Corporate Services) of NDIC charged her to bring her vast wealth of experience to bear in discharging her responsibilities.

Ahmed revealed that the Executive Director (Corporate Services) is taking over from Honourable Omolola Abiola-Edewor who served a two-term tenure, from 2012 – 2022. As Minister with supervisory responsibility over the Corporation, I am glad to state that she contributed enormously in her capacity as the Executive Director (Corporate Services) in nurturing the Corporation to the enviable height it has attained in the Nigeria Financial System.

“The Ministry is deeply grateful to Honourable Abiola-Edewor, the former Executive Director (Corporate Services) for her contribution to the NDIC and indeed to the Financial Services Subsector of the Nigerian Economy.

“Let me also at this point commend the Chairman, and members of the Board of Directors for the effective discharge of the functions of the Board of the Corporation. The feedback I receive from both official and unofficial sources show that the Board has good understanding of its role which it discharges diligently. I urge the Board to maintain the momentum.

“Let me at this point commend Mr. President for the excellent choice of the Executive Director (Corporate Services) for this position. As already known by many, Mrs.  Osuji, the new Executive Director (Corporate Services) until her appointment was the Director, Asset Management Department.”

“She is a seasoned Administrator and Enterprise Risk Manager and also has come with relevant cognate experience and knowledge of the workings of this organization. These I have no doubt enabled her to hit the ground running.”

According to her the Corporation has become an important component of the nation’s financial safety net and at the forefront of activities that promote financial system stability through its contribution to Financial inclusion and other economic policies of Government.

She stated that the Corporation has been consistent in remitting its 80% operating surplus to the Consolidated Revenue Fund of the government among many other milestones achieved while urging them to keep this good track record.

Mrs. Osunji while acknowledging the new responsibility assured the Minister and her colleagues in the Corporation that she will redouble her effort  towards taking the Organization to greater height.

News

Minister tasks NDC participants on principles of cooperation, diversity

Published

on

The Minister of Foreign Affairs, Amb. Yusuf Tuggar, has challenged the participants of the National Defence College (NDC) Course 32, to reaffirm commitment to upholding the principles of cooperation, tolerance and respect for diversity.

Tuggar, who was represented by Amb. Tiwatope Elias-Fatile, made the call at the NDC International Day organised for allied participants of Course 32, on Saturday in Abuja.

He said the event was organised by the college to foster the existing cordial relationship between Nigeria and the countries of all international participants on the course through showcasing of different cultural heritage

”I also understand that variety of foods from different countries will be served at this event,” he said.

The minister commended the college for the increase in the number of foreign participants

He said that NDC environment had become a diplomatic hub of a sort and not only an academic institution and I think this is highly commendable.

According to him, NDC has provided a platform for them to come together, share their heritage and strengthen the bonds as they appreciate the artifacts, cuisine, traditional dresses and music on display.

“Today, as we celebrate International Day for international participants, let us reaffirm our commitment to upholding the principles of cooperation, tolerance and respect for diversity.

“Let us embrace the notion that our differences are a source of strength, not division, and that by working together, we can overcome even the most formidable of challenges.

“Let us recognise that cultural diversity is a strength, not a weakness.

“For us in Nigeria, we have success stories of how our different cultures have brought us together and make us very strong in a world where division and conflicts often dominate the headlines,” he said.

According to him, this event reminds us that our shared humanity is greater than our differences.

“Let us continue to build bridges of understanding, foster dialogue and promote peace.

”We should strive to create a world where diversity is cherished and inclusivity is the norm,” he said.

Tuggar challenged participants from the 19 countries to continue to be ambassadors and representatives of their nations

He added that their stories, traditions and customs were the bridges that connect them with each other.

In his address of welcome, the Commandant of the College, Rear Adm. Olumuyiwa Olotu, said the International Cultural Fiesta was a routine part of the NDC’s academic programme.

Olotu said said the event culminated the Country Briefs by the international participants where the history and culture of their peoples were highlighted, showing similarities with Nigeria.

He said the briefs by the international participants also highlighted government policies on the economy, security and development in heir respective countries.

According to him, the participants display the culture, artefacts, maps and culinary specialities of their countries during this event.

“This tradition is to foster and deepen the existing cordial relationship between Nigeria and all the countries here represented by our dear international participants.

“This is in addition to the need to strengthen the bond, friendship and comradeship amongst participants.

“In a nutshell, it is a pleasant event that brings joy to the entire college community and today we have participants of NDC Course 32 to do us the honours.

“It is also a family gathering and an avenue for us to take a break from academic work and unwind in a relaxed atmosphere,” he said.

The Commandant said the 2024 edition had participants from 19 countries and Nigeria which  include; the Republic of Benin, Botswana, Brazil, Chad, Congo, Cote d’ Ivoire the Gambia, Germany and Ghana.

Others according to him, are; India Liberia, Mali, Nepal, Senegal, Sierra Leone, South Africa, Tanzania, Zambia as well as Zimbabwe.

The Representative of the Diplomatic Corps, Mr Tunde Spencer, from Liberia, said the college had contributed immensely to various aspects of Liberia’s national development.

He commended NDC for the initiative to promote cultural diversity, foster understanding and cultural exchange  among the participants.

Continue Reading

News

NYSC Trust Fund Bill will create job opportunities for graduates – Senate

Published

on

The Chairman, Senate Committee on Youth and Community Engagement, Sen. Yemi Adaramodu, (APC Ekiti South), said that the recently passed National Youths Service Corps (NYSC) Trust Fund Bill would provide jobs for graduates.

Adaramodu disclosed this when he led a delegation of the committee on official visit to Oyo State NYSC Orientation Camp at Iseyin on Saturday.

He said that the bill would soon be sent to the President for assent and had scaled through both first, second reading and other crucibles of legislation.

The lawmaker said that the provision of the Bill was basically to ensure that corps members get established through the training they had acquired through NYSC Skill Acquisition and Entrepreneurship Development (SAED) programme.

He added that the provision of the Bill also cater for corps members who might wish to go into business after their service year.

“The issue of unemployment and what next for corps members after the service year will be a thing of the past soon.

“The bill will ensure that the dreams of every Nigeria graduate become a reality, “he said.

Adaramodu disclosed that the Senate, in collaboration with relevant government departments, agencies and other stakeholders, would soon work on the upward review of corps members’ allowances across the country.

He said that the Senate, in its legislative agenda, would also consider other youth development programmes aside from those embedded in the NYSC trust fund Bill.

Also speaking, the Oyo State NYSC Coordinator, Mr Abel Odoba, said that NYSC SAED training aimed to empower corps members to consider the possibilities of self-employment or initiating their own businesses.

Odoba noted that the NYSC trust fund Bill would practically eradicate unemployment among graduate youths in Nigeria.

He said that statistics have shown that many corps members who actively engaged in SAED programmes have become employers of labour after their service year.

“The Bill will provide soft landing for corps members who have undergone SAED in securing startup funds.

“Through the trust fund, skilled corps members will be given startup grants so that they will become employers of labour and contribute to development of the nation.

“Country like China and other fast developing nations are exploring skills development to address unemployment.

“A time is coming that certificate will no longer be useful but skills acquired will always make way at all times, “he said.

The News Agency Nigeria(NAN) reports that members of the Senate delegation include Sen. Salisu Afolabi (APC Ogun Central), Sen. Aminu Abbas(PDP Adamawa Central), the clerk – Mrs Ijeoma Chikwem and other principal officers of senate youth development committee.

Continue Reading

News

Power: Amukpe substation to experience power outage for 2 weeks – TCN

Published

on

The Transmission Company of Nigeria (TCN), on Saturday in Benin said that there would be power outage in its Amukpe substation for two weeks.

This is according to a statement signed by the General Manager, Public Affairs TCN Ndidi Mbah.

Mbah said the disruption would begin on May 4 and last till May 17.

The outage according to TCN, is to enable contractors have safe environment to erect two 132KV transmission towers at the substation.

The company also said d that as a result of the intending power outage, there would be no bulk power supply to Benin DisCo through the Adeje industrial, woodland, Mosogar, Sapele and Abraka feeders for the period.

“The transmission Company of Nigeria (TCN) hereby states that it will commence the erection of two (2) number 132kV transmission towers at its Amukpe Transmission Substation.

” And will equally restring a portion of the Benin-Delta and Delta-Oghara 132kV double circuit transmission lines from Saturday, May 4 to May 17, 2024.

“Consequently, Amukpe Substation will be out of power for the duration of the work.

“Also, there will be no bulk power supply to Benin DisCo through the following feeders: the Adeje, industrial  Woodland, Mosogar, Sapele and Abraka feeders.

“The outage is necessary to create a safe working environment for the contractor. Completion of the projects will put in place N-1 redundancy that would enable TCN supply bulk electricity to the substation from either the Benin or Ughelli transmission line.

“This means that when one transmission line is faulty, bulk electricity can still be received in the substation from the second line., ” Mbah said.

According to her, TCN apologises for the inconvenience electricity consumers in the substation will experience within the period.

She said that the projects would help ensure a more flexible and consistent bulk power supply through the Amukpe transmission substation when completed

Continue Reading

Trending