Aso Villa Reads for 7/05/18
Every day, we bring you the best stories the media is reporting about the Government of Nigeria.
“Federal Government sensitization and consultation campaign on the African Continental Free Trade Area (AfCTA), is already eliciting positive response from stakeholders as they endorsed the plans for the trade agreements. Speaking at the AfCFTA Northwest Zonal sensitization and consultation in Kano, His Excellency, the Executive Governor of Kano State, Abdullahi Umar Ganduje represented by the SSG, Alhaji Usman said Kano State is willing and committed to taking further specific steps to reactivate and update historic trade corridors with the objective of using these corridors to boost Nigerian exports and intra-African trade. Speaking further he urged participants to take advantage of African Continental Free Trade Area for the economic growth and betterment of their respective states, Nigeria and Africa in general.” Business Day (Monday, 7th May 2018, Page 2) reported.
“Shareholders have expressed mixed reactions to plans by the Central Bank of Nigeria (CBN) to sanction Chief Executive Officers (CEOs) of banks that fail to submit audited results of their banks after 12 months.The shareholders expressed their view in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Friday, while reacting to the apex bank’s Monetary, Credit, Foreign Trade and Exchange Policy released recently. The CBN had in the Monetary, Credit, Foreign Trade and Exchange Policy Guidelines for Fiscal Years 2018/2019 also directed banks to publish their audited financial statements not later than four months after the end of each financial year. The CBN said it would hold the board Chairman and CEO of any defaulting bank directly responsible for any breach.” Vanguard reported.
Business Day (Monday, 7th May 2018, Page 41) reported that “the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) on Friday sealed up Amazonia Guest House at Dagri in Gwagwalada, Abuja, rescuing 13 women suspected to be victims of human trafficking. NAPTIP’s Assistant Director of Intelligence, Investigation and Monitoring, Tina Ugwu who disclosed this, said that two suspects including the manager of the lodge have been arrested. Ugwu alleged that one Hafeez Abdulsalam, who had been on NAPTIP’s watch-list and was a suspected trafficker who specialised in moving young girls to Saudi Arabia, was the person that brought the ladies from various states to Abuja. She added that the investigation is still on-going as NAPTIP will study all the things recovered from the hotel and then charge the suspects to court.”
According to a report by Daily Trust, “the Federal Inland Revenue Service (FIRS) says it has started harmonising taxes in Nigeria as part of moves to reduce cases of multiple taxation. The Executive Chairman of FIRS, Mr Babatunde Fowler, announced the plan at a roundtable discussion on women and the informal sector. The roundtable was organised by the Centre for Democracy and Development (CDD) on Friday in Abuja. Fowler, who was represented by Ms Clara Nnachi, Senior Manager on Investigation, said that the administration would soon sort out all problems of multiple taxation in states. He added that this would give Nigerians clear direction of what tax to pay, alleging that many states hide under FIRS to tax citizens. He expressed optimism that the government in a very short time would come up with policies on harmonised taxation.”
“Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) is working out plans to support 500,000 smallholder farmers in Nigeria. Aliyu Abdulhameed, Managing Director, NIRSAL, disclosed this in Abuja at the agriculture workshop titled: Accelerating Growth of Agriculture Insurance in Nigeria, stating that there was need to support and enhance the productivity of the smallholder farmers in the country.” According to Business Day (Monday, 7th May 2018, Page 6), “The workshop, had agriculture stakeholders’ in attendance and it was aimed at getting more farmers into the insurance scheme and enhance agribusiness, to build up the confidence of financial institutions on farmers in giving them financial support. Aliyu stated that there is need to enhance the productivity of the farmers by making adequate finance and support available to them.”
“The National Pension Commission (PENCOM) has revealed plans to extend the Contributory Pension Scheme (CPS), to underserved sectors of the economy through the creation of a Micro Pension Scheme. Speaking at a workshop in Uyo, the Akwa Ibom State capital, the Acting Director General of PENCOM, Aisha Dahir Umar, represented by the Commission’s Secretary and Legal Adviser, Ibrahim Sani, said PENCOM is increasing efforts to ensure the provision of necessary infrastructure for the unveiling of the Micro Pension Scheme. Umar disclosed that the number of contributors on the pension platform rose from 7.5 million as at March 31, 2017, to 7.9 million as at February 28, 2018. Consequently, the net asset of the fund also increased from N7.52 trillion to N7.79 trillion during the period in review.” So writes Guardian.
“UNIDO’s $50 million country programme for Nigeria is seen boosting the country’s industrial development. Aisha Abubakar, Minister of State, Federal Ministry of Industry, Trade and Investment, said that the new UNIDO country programme (2018–2022) would go a long way in driving Inclusive and Sustainable Industrial Development (ISID) in Nigeria. The minister stated this during the validation workshop for United Nations Industrial Development Organisation (UNIDO) Country Programme for Inclusive and Sustainable Industrial Development in Nigeria 2018–2022, in Abuja. Abubakar who was represented by the permanent secretary, Federal Ministry of Industry, Trade and Investment, Edet Akpan noted that the country programme document had already identified major areas of intervention, which would help the country to develop and grow its industrial sector”. Business Day (Monday, 7th May 2018, Page 42) reported this.
