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EFCC issues stern warning to Bureau de Change operators, others on Naira notes hoarders

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By Olaleye Aanuoluwapo

The Economic and Financial Crimes Commission, EFCC, has warned Bureau de Change (BDC) operators to be wary of currency hoarders who would be offloading money illegally stashed.

Recalled that the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, on Wednesday revealed that the apex bank will, from December 15, 2022, issue redesigned N200, N500, and N1,000 notes.
The development is currently generating mixed reactions from concerned Nigerians.

Speaking on the matter, the EFCC Chairman, Abdulrasheed Bawa in a statement commended the move by the apex bank, saying it is “a well-considered and timely response” to the challenges of currency management in the country.
He said, “It is pertinent to issue this stern warning to Bureau de Change operators to be wary of currency hoarders who would attempt to use this opportunity to offload the currencies they had illegally stashed away.”

According to the EFCC boss, the Commission would spare no effort to arrest and prosecute any financial services operator who violates extant laws and regulations.

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Ogun is leading in ease of doing business in Nigeria – HoS

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Ogun State Head of Service, Mr. Kehinde Onasanya has said that the State is leading other states of the Federation in Ease of Doing Business, owing to the provision of requisite infrastructural facilities through the Public Private Partnership (PPP) projects in the State.

Onasanya made this known while delivering a keynote address at the launch of a book titled “Practical Guide to Public Private Partnership Arrangement in Nigeria” authored by Pastor Adebisi Sogunle and held at the Waterfalls Events Centre, Ikeja, Lagos.

According to him, since the State passed the PPP law in 2019, the initiative has facilitated projects with road networks rehabilitated and expanded as well as reconstruction of the Ijebu-Ode-Epe Expressway among others.

He explained that the collaborative agreement between the public and private sectors was predicated on the strengths of both sectors to achieve outcomes that neither could effectively accomplish alone.

“Under the visionary leadership of His Excellency, Prince Dapo Abiodun, Ogun State has harnessed the potential of PPP to drive significant developments and give Ogun State focused and qualitative governance and as well create the necessary enabling environment for a public private sector partnership.

“This is fundamental to the creation of an enduring economic development and individual prosperity of the people of Ogun. Let me, therefore, highlight some of the notable projects of the State Government and their impacts through PPP:

“The Ogun State Agro Cargo Airport: Developed in partnership with the private sector, the Agro Cargo Airport is designed to facilitate the export of agricultural products, thereby boosting the agro-industrial sector.

ii.Ogun State Housing Development Projects: Several housing projects, including the Prince Court Estate, have been developed through PPP arrangements to address the housing deficit.

iii.Ogun State Energy Generation Projects: Lisabi Mini Power was developed in partnership with the private sector to generate 4.5mw Power for transmission and distribution within the State to Government core areas.

“Other projects of the State Government in the pipeline through PPPs include the Olokola Deep Sea Port, Sagamu Trailer Park, Sagamu Stadium, Hillcrest Estate, PMB Estate, Lomiro Oil Palm, OGSG Pharmaceuticals, OGSG Forestry project, Gateway Hotel Ota, Inland Dry Port at Kajola/Papalanto, amongst others,” the HoS said.

While congratulating the author of the book for his contributions to the discourse on PPP, Onasanya said the valuable resource will no doubt guide policy makers, practitioners and investors in navigating the complexities of PPP arrangements in Nigeria and urged public servants as well as private sector partners to key into the messages of the book and apply its lessons in their endeavours.

On his part, the former Minister of Information and Culture, Alhaji Lai Mohammed, said the book is timely because government alone cannot maintain all its assets, which requires the PPP arrangements, saying the arrangement paved the way for some major road infrastructure with particular reference to Ogun State and commended the Ogun State Government for keying into the initiative, which has created more job opportunities for the people.

Speaking to journalists on the sidelines of the event, the National President of the Nigeria Union of Journalists (NUJ), Dr. Chris Iziguzor said the PPP initiative has assisted Ogun State in achieving much in the area of infrastructural development and added that the arrangement, in turn, brought in more investors and provided job opportunities for the citizens.

In his response, the author, Pst. Adebisi Sogunle, while appreciating all guests for the support he got, said he wrote the book based on the experience he garnered while working on a PPP arranged programme in Cross River State.

He said the book will help in examining the roles of stakeholders because they have the responsibility to maintain the environment when political, economic, and administrative concerns arise while partnering.

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Reverse 40 per cent import fees on LPG to encourage local manufacturers – Techno Oil boss urges FG

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Mrs Nkechi Obi, Group Managing Director (GMD), Techno Oil Limited has urged  the Federal Government if Nigeria to reverse its policies on the importation of Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) cylinders.

Obi made her displeasure known during a panel session at the 2024 Nigeria Oil and Gas (NOG) conference in Abuja.

Speaking, Obi pleaded with the government to reverse the zero import duties placed on the importation of LPG cylinders and restore the initial 40 per cent import duties, to discourage importation.

“We need policy reversal on that to encourage local producers. The unofficial explanation we are getting from some customs officers is that the Compressed Natural Gas (CNG) which the government wants to encourage its usage in Nigeria, has the same Harmonised System (HS) code with LPG.”

“So, the import benefits placed on CNG equipment eventually affected LPG equipment; that is why they were tied together on the zero import duties.”

“Harmonised System codes are commonly used throughout the import and export process for the classification of goods.”

“For me, we don’t produce CNG cylinders in Nigeria because it involves advanced technology but we produce LPG cylinders here.”

“For us to produce CNG cylinders, we have to change one or two machines, and we expect the government to encourage us to upscale our technology to 32, which we are planning to do.” She lamented.

Obi also called on the Federal Government to separate LPG HS code from that of CNG, to ensure that importers of LPG pay higher import duties, and to also enable the government to continue with its efforts to make CNG affordable in the country with zero import duties.

“The previous government protected those producing cylinders, so that import will not overshadow local production; they did that to encourage local manufacturing but when this government came into existence, policy changed.”

“We only enjoyed that policy for six months before it was scrapped and replaced with the new “zero import duties” policy.”

“Definitely, we have to produce CNG cylinders and the government needs to consider those that will go into that production. But if government policy is killing LPG cylinder production that we are doing, it will be very difficult to enter into CNG cylinder production.”

“So, if there is anybody who can venture into CNG cylinder production, we the producers of LPG cylinders are here to do that and it is in our plan.”

“But we are not encouraged to do it because of what happened to us in the LPG cylinder production because of the frustrating policy that is encouraging its importation,” Obi added.

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Shettima inaugurates construction of resettlement scheme for conflict-affected persons

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Vice-President Kashim Shattima, on Friday officiated the groundbreaking ceremony of the ‘Resettlement Scheme for Persons Impacted by Conflict (RSPIC)’ in Tudun Biri.

Tudun Biri village, located in Igabi  Local Government of Kaduna State was mistakenly bombed by a military drone on Dec. 3, 2023.

Shettima said that the event marked the fulfillment of a solemn promise to prioritize the safety and dignity of every Nigerian.

He stated that true achievements can only be claimed one’s dignity and security was restored to those whose lives have been disrupted by conflict.

“Our journey to this point has been long and arduous. Today, we converge in this historic city to demonstrate our resolve to overcome adversity and build a future where each person

” And community sees the other as a friend, and where peace and opportunity are the birth-right of every citizen,” Shettima said.

He emphasized that Kaduna State was the ideal launchpad for the intervention, given its diverse nature.

Shettima highlighted the need to move beyond the fear that had previously held the nation hostage and to prevent incidents from escalating into prolonged disputes.

He said that RSPIC was designed not only to construct residences, roads, schools, and essential facilities for conflict victims but also to offer them a dignified environment to live and dream.

Shettima said, ”This initiative is in line with President Bola Tinubu’s promise to ensure every Nigerian has a place of belonging and can believe in the nation once again.”

Shettima acknowledged that past conflicts had not only torn communities apart but also divided political leaders who should serve as unifying models.

He urged leaders to view humanitarian crises as opportunities for unity rather than division.

The vice-president commended Gov. Sani for his inspirational approach to fostering unity in the state, urging  that the approach should serve as a template for other governors and the nation at large.

Shettima emphasized that the resettlement scheme symbolized the collective will to heal as a nation and rebuild together.

“This history should inspire us to be different, and my optimism thrives on the assurance by our state governors to treat our humanitarian crises as points of unity instead of divisions,” the vice-president stated.

He also highlighted the importance of peace and stability across the country, as conflicts in one region can disrupt the entire nation.

Shettima called for a unified response to national concerns, emphasizing the need for justice, equitable distribution of resources, and collaboration.

He said, “Our work does not end here. This groundbreaking event is but the first step in a long journey towards restoration and empowerment.

“We must continue to provide support and opportunities for those affected, ensuring they have access to education, healthcare, and economic resources.”

Shettima assured those displaced by conflicts that their strength and resilience inspired the nation.

He added,”Under President Tinubu’s leadership, the government is committed to strengthening security infrastructure and advancing peace.

“As we lay the foundation of this intervention in our pilot state, we must remind one another to be front-row stakeholders in this aspiration to build peace, unity, and, significantly, to offer hope and opportunities to our people.”

Shettima called on security agencies and media organisations to come together and take ownership of the project, emphasizing that the intervention was a collective effort and a chance for permanent solutions.

Sani reaffirmed his commitment to supporting the Tudun Biri community.

He said,” Since the incident, the state government, through the State Emergency Agency (KADSEMA), had provided relief materials, direct cash support, and medical and psycho-social assistance to victims and their families.

”The government is also constructing a 6km asphalted road to link Tudun Biri to other communities and boost local agriculture and commerce.

”Additionally, a Skills Acquisition Centre and a clinic are under construction to cater to the community’s needs.”

Sani appreciated the contributions from individuals and corporate organizations, stating that over N275 million had been disbursed to support the victims.

Sani urged those who made pledges to redeem them, highlighting the leadership example set by  Tinubu and Shettima.

He thanked the president for selecting Tudun Biri for the resettlement scheme’s groundbreaking ceremony, emphasizing the importance of the project.

Managed by NEMA , the scheme includes four resettlement communities in Igabi, Ikara, Giwa, and Kauru LGAs.

Zubaida Umar, Director-General of NEMA and Chairperson of the Project Implementation Unit, welcomed underscored the project’s mission to provide solace and support to conflict-impacted individuals and families in the state.

She thanked partners, stakeholders, and supporters for their commitment to the noble cause.

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