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With this good start, FHA stands a better chance —Kano Gov. commends MD



The Governor of Kano State, His Excellency Abba Kabir Yusuf has pledged the support of the state to the success of the Renewed Hope Housing programme of President Bola Ahmed Tinubu.

This was revealed on Thursday when the Managing Director and Chief Executive of Federal Housing Authority, Hon. Oyetunde Ojo visited the Governor in continuation of his consultation of his tour of the North West zone.

Hon Ojo had in his address informed the Governor that apart from coming to pay him a courtesy visit as the new management in FHA, his team has come with the President’s message on the Renewed Hope Agenda on Housing.

The MD told Governor Yusuf that Kano is the 9th State he is visiting with the President’s message on Housing.

According to Hon Ojo, “The President has given us the mandate to make the Renewed Hope Agenda on Housing possible, because of the housing deficit we have in the country “.

The FHA Chief Executive pointed out that Kano State’s strategic importance as a commercial hub in the North and as one of the most populous states in Nigeria necessitates the need for affordable housing provision for the citizens.

In his words, Hon Ojo said: “We know the position of Kano and Lagos in terms of population. Kano is so strategic in our country and we need to provide houses for the people here.”

The Managing Director therefore asked the Governor to give land to the Federal Housing Authority for the project.

“Our mission here is to seek for land. We know we have land here with challenges, but we are asking for a new one for this project,” he said.

Hon. Ojo reminded His Excellency that FHA does not just build estates but develop new towns. He then asked the assistance of the state in provision of infrastructure in the proposed site.

Reminiscent of his demand from the other Governors he has visited, the MD also asked Governor Yusuf for off-takers from the state.

He said the need to synergise with the state for off-takers is to ensure that the houses are targeted at individuals and would be taken on completion.

“We are looking at the off-takers scheme with you because you know your people and have their data,” he told the governor.

Hon. Ojo informed the Governor that FHA would work with the State for input in the designs and house types to be constructed in Kano in the Authority’s End – user policy and build a sense of ownership in the people.

The Renewed Hope Agenda programme of the President the MD is not about politics, but about housing all Nigerians.

“It is not about politics. It is about the people, the people of Kano,” he said.

The model of delivery the MD said would consist of one Bedrooms, Studio apartments, and carcass, noting that those at the low income bracket would be highly considered. Those in the diaspora, he said, are also in the plans.

Hon. Ojo concluded by saying that FHA intends to use the value chains of construction to fight both inflation and insecurity by providing jobs for our youths, while targeting remittances from abroad through the Diaspora estates it is planning.

Governor Yusuf in his response appreciated the FHA delegation. He acknowledged the housing needs in Kano as the most populous state in the country.

The governor noted that as a one-time Commissioner of Works in the state, that he was involved in some of the housing projects standing today in Kano.

According to him, “I was once Commissioner of Housing and Transport. Most of the houses you see in Kano were done under my supervision and conceptualization. As a governor, I feel the sky is my limit.”

The Governor stated that housing development is key to his vision in Kano State and that he would do everything possible to achieve that. He therefore pledged his support to FHA to succeed in the project.

According to him, “Housing development is key to my vision. Count on my support. Within the next one week, you will hear from me.”

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Nigeria’s foreign exchange reserves surge by 5% to $33.58bn



Nigeria’s foreign exchange reserves increased by 5 percent to $33.58 billion in the last two months.

This is according to the Central Bank of Nigeria, CBN’s latest FX data as of June 19, 2024.

Accordingly, the foreign exchange reserves figure represents a $1.47 billion increase compared to $32.11 billion on April 19, 2024.

The Monetary Policy Committee, MPC during its 295th meeting reiterated its commitment to boosting Nigeria’s external reserves.

“The Committee also noted the marginal increase in the external reserve balance between March and April 2024 and urged the Bank to sustain its focus on accretion to reserves”, reads in part.

Recall that the Nigerian government received $925 million from Afrieximbank barely two weeks ago as the $3.3 billion crude oil-backed prepayment facility organized by the Nigerian National Petroleum Company Limited.

Meanwhile, despite the increase in the country’s foreign reserves, Naira depreciated N1485.36 for the second consecutive time against the dollar on Thursday.

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Ondo Govt breaks silence after court declared 33 LCDAs illegal



Following the judgment of an Ondo State High Court which declared the creation of the 33 Local Council Development Areas, LCDAs, as unconstitutional, the state government has stated that it is studying the judgement.

The Attorney-General and Commissioner for Justice in the state, Kayode Ajulo, in a statement on Friday, said the state government would duly analyze the judgement, adding that the rule of law would be followed.

The late former Governor Oluwarotimi Akeredolu created the LCDAs in 2023.

But in his judgement on Thursday, Justice A.O. Adebusuoye stated that the LCDAs were not lawfully created.

According to Ajulo, the Certified True Copy (CTC) of the judgement has been requested and will be studied accordingly.

“All necessary measures, in accordance with our laws, will be taken to safeguard the interests of our citizens, foster peaceful coexistence, and uphold the rule of law.

“The Honourable Attorney General remains steadfast in his commitment to prioritising the well-being and welfare of our citizens, working tirelessly to ensure that justice and the law are served.”

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Nigeria Customs generates N249b within 5 months in Rivers



The Nigeria Customs Service, Area 2 Command, Onne in Rivers, said it has generated more than N249 billion as at May, 2024 representing 40.3 per cent of its current annual revenue target.

Comptroller of the command, Muhammed Babandede, made the disclosure while briefing newsmen at Onne.

According to him, the 40.3 per cent revenue record followed a recent review of the command’s annual revenue target from N494 billion to N618 billion.

The comptroller noted that when compared to the same period in 2023, the command had recorded an increase of more than N153 billion.

He also said that six containers laden with codeine, contraband drugs and goods valued at more than N3 billion were also confiscated within the period under review.

He said that the seizures included four containers laden with bales of clothing, lace and fabrics with a Duty Paid Value (DPV) of more than N911 million.

Others, the controller said, were two containers laden with 2,625 cartons of codeine syrup among other contraband valued at more than N2 billion.

Babandede commended the National Drug Law Enforcement Agency (NDLEA) for inter-agency collaboration while also assuring adequate handover of seizures.

He also emphasised that the command would not relent on its core function of trade facilitation which entailed streamlined and simplified technical and legal procedures for clearing import or export goods.

On the operations of bonded terminals, the comptroller explained that the final destination for clearing of consignment was at the importer’s discretion.

“These procedures are guide which all Customs officers must adhere to.

“This negates the erroneous belief that officers of the Onne command connive with operators of Bonded Terminals to transfer containers,” he said.

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