Speaking on the ‘Ounje Eko’ initiative, where food items are sold at discounted prices, the governor said, “We created 59 makeshift markets outside of the regular markets out of our 57 local government and local council development areas and made it Sunday-Sunday market.”
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Federal Mortgage Bank: Success story under Buhari must be sustained — Fashola
By Bisi Adewumi
The Hon. Minister of Works and Housing, Mr Babatunde Raji Fashola, SAN has said that the Federal Mortgage Bank of Nigeria (FMBN), since the inception of President Muhammadu Buhari’s administration in 2015,the FMBNÑ has a positive story of service delivery.
Fashola while delivering his keynote address at the 2022 Inaugural Retreat of the bank held at Transcorp Hilton Hotel on Monday, stated that the bank has success story to tell in the number of mortgages issued, housing schemes funded and completed, changes in eligibility conditions to improve access to funding.
According to the Minister, “This positive story is only a small part of what is possible if the bank imagines and reinvent itself.” This is why he was enthused by the choice of the theme, ‘ STRATEGY REPOSITIONING FOR OPTIMISED PERFORMANCE.’There could be no other better theme, considering the quantity and the needs of Nigerians which have not remained the same since the creation of the bank, decades ago.
The bank which was set up to provide service to Nigerians was established by the Federal Government. And, as promoter of the bank, the Federal Government has infused the board and management with a sense of how it should be repositioned by constituting a more representative board that’s reflective of our national diversity of gender, religion, ethnicity, and this has been achieved whilst increasing the number of banking professionals in the management and board.
Mr. Fashola stressed that the intension for doing all this, is to ensure optimum service to the real owners of the bank, who are the Nigerian public and contributors to the National Housing Fund (NHF).
The government envisions and welcomes a type of repositioning that emphasises the banking identity of the institution. If the institution is called a bank, it collects people’s money and gives out loans, therefore, it must be a bank and is expected to act like one.
The government has decided to support the acquisition of the bank of core banking applications and softwares. Again, the National Council on Housing and Lands has adopted the recommendation for the bank to seek NDIC’s insurance of contributors’ fund just as it’s done for depositors in other banks.
In all, despite the success story and some giant strides taken by the bank, Fashola asked rhetorically if this is all the bank could offer. He thus charged the deliberators to strategize more on repositioning for optimized performance, as much as he commended the board and management for the vision and the action behind the conception and the undertaking of the retreat.
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Rep tasks military to use technology to tackle security challenge
The Chairman, House of Representatives Committee on Army, Rep. Abdullahi Mamudu, has urged the military to use modern technology to tackle security challenges facing the country.
Mamudu said this when he led members of the committee on an oversight visit at the Headquartres of the Joint Task Force (JTF) North East, Operation HADIN KAI (OPHK) in Maimalari Cantonment, Maiduguri on Thursday.
He lauded the military for the effort in securing the country, saying that it would have been difficult for Nigerians to go about their normal businesses without the military.
He said it was the National Assembly’s responsibility to provide budget that would enable the military carry out its constitutional duties.
He lauded the military personnel for their sacrifices, especially those who lost their lives in the course of duty.
Maj. Gen. Waidi Shaibu, the theatre commander, North East OPHK, lauded the committee said for the visit, describing it as timely.
Shuaibu said that the North East had been the nation’s focal point of battle against terrorism, saying that the OPHK was launched to address the challenge.
He added that OPHK had over the years discharged its duty of restoring law and order in the Northeast in line with the Chief of Army Staff’s philosophy.
“To transform the NA into a well-trained, equipped and highly motivated force toward achieving our constitutional responsibilities within a Joint environment.”
The commander added that OPHK had recorded successes lately, especially in the area of neutralising terrorists, capturing equipment and rescue of hostages.
He reiterated that the theatre was determined to end the insurgency, through reviewed strategies to address emerging security challenges.
News
Lagos workers now earn minimum of N70,000 since January – Sanwo-Olu
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that workers have been enjoying an additional N35,000 wage allowance since January.
This is as he revealed the state government will soon roll out a new minimum wage scheme.
The governor stated that those who are currently earning a minimum wage of N35,000 or more now take home a salary of N70,000 or above since the beginning of the year.
“The civil servant and all public officers in Lagos know that since January, we have continued to pay the wage allowance of a minimum of N35,000 over and above what they were earning before.
“What this means is that people that are earning a minimum of N35,000 or more before are now earning over N70,00. That is what they have been enjoying since January.
“So it is important for people to know that we make these things very clear that this government has doubled up to ensure that at this difficult time, it has not left the citizens on their own,” Sanwo-Olu said at a state function on Thursday.
The governor while giving an update on the intervention the state embarked on to ameliorate the current economic hardship, said his administration will distribute food items to 500,000 households in the state through unions and local governments.
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AGF warns treasury managers against corruption, fraud
Mrs Oluwatoyin Madein, the Accountant General of the Federation (AGF) has advised treasury managers to guard against corruption, fraud and financial mismanagement by implementing strong internal control mechanisms.
Madein said this at the training programme organised by the Chartered Institute of Treasury Management (CITM) in Abuja on Thursday.
The AGF, who was represented by Alhaji Muhammed Aliyu, Director, Special Duty, said that there was a need to safeguard public funds and protect the interest of government and the public.
“We must remain watchful against the threats of corruption, fraud and financial mismanagement by implementing a strong internal control system and promoting a culture of compliance.”
This, according to her, is in a bid to achieve the virtues and behaviours necessary to curtail corruption in the polity.
She said: “training and professional development are essential in equipping the practitioners with the knowledge and skills necessary to conduct the activities of Treasury Management Ethically.”
“Let us seize this opportunity to expand our understanding of ethical principles and best practices, so as to strengthen our ability to serve the public well.”
She urged the participants to uphold the highest ethical standards in their work and actions as treasury professionals.
According to her, together, we shall strive to build a future where transparency, integrity and accountability will be the focus in management of public finances.
“As professionals, we must resist the temptation of personal interest or undue influence in our decision-making processes.
“We must always prioritise the public interest above all other interests, even in the face of unpleasant situations or pressure from the public.” she said.
She said ethical conduct in treasury management entailed an extremely large number of principles, which includes transparency, honesty, accountability, and fairness.
“We must adhere to these principles seriously, not only to maintain public trust but also to imbibe a culture of integrity and transparency within our organisations.”
She said that as custodian of public funds, treasury managers bear a tremendous responsibility to uphold the highest standards of ethics and integrity in our profession.
Also speaking, the Registrar, CITM, Mr Olumide Adedoyin, said to curtail financial crime, there must be deterrent, adding that enlightenment is also key.
“Once you create awareness, you must empower professional associations particularly associations like CITM, ANAN, ICAN, because where we are going is an evolving journey.
“And along the line, there are gaps that needed to be filled and that is why treasury management becomes important , if you don’t involve treasury management in your financial flow you are going to lose it”, he said.
He said that sound treasury management would help to safeguard the nation’s financial system by fortifying financial inflow and reducing corruption in the system.
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