Thursday, September 23

Tag: Fund

Adamawa Assembly pushes judicial financial autonomy bill, approves N2bn executive loan
News

Adamawa Assembly pushes judicial financial autonomy bill, approves N2bn executive loan

The Adamawa State House of Assembly has given accelerated reading to a bill for a law to provide for the management of funds accruing to the Adamawa State Judiciary from the consolidated revenue fund of the state. The bill scaled through first and second reading on Monday. The accelerated reading of the bill followed its presentation on the floor of the House by the Speaker, Aminu Iya Abbas and read by the Majority Leader, Hammantukur Yettisuri After considering the importance of the bill, the Speaker referred it to House Committee on Judiciary to scrutinise and report back within two weeks. The Assembly, also during its resumed plenary on Monday, approved for Governor Ahmadu Fintiri his request to take a loan of N2 billion to upgrade hospitals, particularly for COVID-19 care. ...
Reps fume over FG’s borrowing, agencies hiding revenue
News

Reps fume over FG’s borrowing, agencies hiding revenue

The House of Representatives has expressed displeasure over the way some government agencies conceal their revenues, thereby denying the Federal Government the fund for budgeting. The House criticised the way the country resorts to borrowing N5.62 trillion to finance its deficit in the 2022 budget, while such agencies starve the government of funds. Representative James Faleke, the Chairman, House Committee on Finance, raised the concerns at the ongoing public hearing on 2022 to 2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) on Thursday in Abuja. “We are not you happy the way Nigeria is borrowing N5.62 trillion and we have some fund somewhere staying fallow without being used. “For God sake, let us build this country together for the sake of all o...
Buhari should be congratulated for signing the PIB act into law. It will address environmental hazards – Governor Hope Uzodinma
News

Buhari should be congratulated for signing the PIB act into law. It will address environmental hazards – Governor Hope Uzodinma

Governor Hope Uzodinma of Imo state has said that President Muhammadu Buhari should be congratulated for signing the controversial Petroleum Industry Bill 2021 into law. Recall that the PIB act ignited controversy following the allocation of three per cent revenue to host communities in the Niger Delta, while a fund for the exploration of oil in frontier basins, mostly in northern states, received 30 per cent. However in an interview on Channels Television, Uzodinma said the law will help to regulate environmental hazards such as oil spillage. The Imo state Governor said;   “All the hazards that follow the production of oil, mostly environmental hazards, are as a result of the absence of regulatory environments. “These laws when put in place, will not only regulate...
Alena sold to Getafe as Barcelona continue Messi fundraising mission
Sport

Alena sold to Getafe as Barcelona continue Messi fundraising mission

The Catalan giants desperately need to raise funds if they want to keep the Argentine superstar, who is officially a free agent Barcelona have agreed a deal to sell Carles Alena to Getafe as they continue their desperate cost-cutting exercise in order to ensure they can sign Lionel Messi up to a new contract. La Liga salary cap regulations mean Barca are currently unable to register any of their new signings or agree a new deal with Messi, whose previous contract expired at the end of last month. As a result the club are desperately looking to move players on to both raise funds and reduce the wage bill, with Alena the latest player out of the door.
Chelsea Ready To Sell Abraham For £40m To Fund Haaland Transfer
Sport

Chelsea Ready To Sell Abraham For £40m To Fund Haaland Transfer

Chelsea are reportedly ready to sell Tammy Abraham for £40million as Thomas Tuchel looks to fund a move for Borussia Dortmund striker Erling Haaland. According to The Telegraph Haaland is top of Tuchel’s shopping list this summer. But the 20-year-old could cost upwards of £100million after netting 53 goals in just 56 games. And Chelsea need to free up space in their squad, as well as the wage budget, to get a deal over the line. It’s believed academy star Abraham, 23, will be allowed to leave Stamford Bridge for around £40m. West Ham are known to be keen on the England international, who has 30 goals in 81 games for the Blues. Abraham has fallen way down the pecking order since Tuchel replaced Frank Lampard in January. And he is set to be joined out the door by fel...
States Face Cash Crunch, Salaries Swallow Revenues, Federal Govt Seeks More Fund
Politics

States Face Cash Crunch, Salaries Swallow Revenues, Federal Govt Seeks More Fund

Two top officials of the Muhammadu Buhari regime on Wednesday indicated that the country urgently needed more funds to run government and provide basic amenities for Nigerians. Although the Minister of Finance, Budget and National Planning, Zainab Ahmed, in an interview with the State House correspondents faulted a claim by the Edo State Governor, Godwin Obaseki, that the Federal Government printed between N50bn and N60bn in March, she said there was a need to improve revenue to run government. On his part, the Accountant-General of the Federation, Ahmed Idris, at the 2021 retreat for members of the technical sub-committee on cash management, stated that there was increasing pressure on government funds. The minister and the accountant-general of the federation said these as inv...
Organizers End Edo 2020 Sports Festival Over Lack of Funds, Support from govt
Sport

Organizers End Edo 2020 Sports Festival Over Lack of Funds, Support from govt

  The Local Organising Committee for Edo 2020 sports fiesta has announced that the national sports festival billed to end on the 14th of this month will now end on Thursday, 8 April due to lack of support from the federal government. According to the Project Manager, Media & Communications, Edo 2020, Ebomhiana Musa in a statement to DAILY POST, the LOC regrets to announce that it will end the games abruptly tomorrow, Thursday, April 8, 2021 for lack of funds. “Rising from an emergency meeting on Wednesday evening, the LOC says it has to take this hard decision due to lack of funds having expended its reserves to kick-start the games. “Regrettably, the FG is yet to redeem its pledge to support us as the host state financially for the cost of postponements. So, we ar...
Kylie Jenner branded ‘cheap’ for asking fans to help fund make-up artist pal’s surgery
Lifestyle

Kylie Jenner branded ‘cheap’ for asking fans to help fund make-up artist pal’s surgery

Billionaire Kylie Jenner has been criticised for asking fans to chip in for her friend's life saving brain surgery - after donating just $5,000 of the $120,000 target. The make-up mogul mum-of-one, 23, was slammed for making a public plea for donations to ailing Samuel Rauda, 26. Rauda is a make-up artist who has previously worked with Kylie, her half-sister Khloe Kardashian and family friend Chrissy Teigen. But after a reported car accident last week, his family had no choice but to make a public plea to help pay for his treatment and for future expenses during his long recovery. Clearly wanting to help, Kylie posted a photo of Samuel along with a link to the Rauda family's Go Fund Me page, writing: "May God watch over you and protect you @makeupbysamuel everyone take a mo...
SERAP Sues Lawan, Gbajabiamila Over Alleged Missing ₦4.4 Billion NASS Fund
Politics

SERAP Sues Lawan, Gbajabiamila Over Alleged Missing ₦4.4 Billion NASS Fund

Socio-Economic Rights and Accountability Project (SERAP) has sued Senate President, Ahmad Lawan, and Speaker of House of Representatives, Femi Gbajabiamila at Federal High Court, Abuja over alleged missing N4.4 billion National Assembly fund. In the suit filed at the weekend, SERAP is seeking “an order of mandamus directing and compelling Lawan, Gbajabiamila and National Assembly to perform their constitutional oversight functions to ensure prompt and transparent investigation into the allegation that N4.4 billion budgeted for the National Assembly may be missing and unaccounted for.” The suit followed publication of annual audited reports for 2015, 2017 and 2018 in which the Auditor-General of the Federation raised “concerns about alleged diversion and misappropriation of public...
Armored Carriers Bought By Buratai From $1billion Fund Were Stolen By Boko Haram
News

Armored Carriers Bought By Buratai From $1billion Fund Were Stolen By Boko Haram

No fewer than 15 Armoured Personnel Carriers and tanks purchased for the Nigerian Army in 2020 under the immediate past Chief of Army Staff, Lt Gen Tukur Buratai (retd.), from the $1 billion fund approved by the Nigerian government were lost to the Boko Haram terrorists within the same year they were bought. SaharaReporters learnt that at least four countries supplied the APCs to the Nigerian Army in 2020 which were China, South Korea, United Arab Emirates and South Africa. The breakdown of the Armoured Personnel Carriers obtained by SaharaReporters further revealed that about 21 armoured carriers were ordered between 2018 and 2019 when the $1 billion fund from the Excess Crude Account was approved and released to the military to aid the counter-insurgency war in the North-East. ...
Money From Mining Used To Fund Criminal Activities – President Buhari
Politics

Money From Mining Used To Fund Criminal Activities – President Buhari

The President, Major General Muhammadu Buhari (retd.), has said his regime has discovered that criminals have infiltrated the mining industry in the country. Buhari said this on Tuesday while declaring open the 56th annual international conference and exhibition of the Nigerian Mining and Geosciences Society held at the International Conference Centre, University of Ibadan. The theme of the conference was: ‘Responsible exploration and exploitation of mineral resources in a secured environment’. His address was read by the Minister of State for Mines and Steel Development, Dr Uchechukwu Ogah. The President said since most mining activities were taking place in remote places, it was easy for criminals to infiltrate the mining industry. He added that the money made from the i...
Ibori’s Loot Will Fund 2nd Niger Bridge, Lagos–Ibadan, Abuja–Kano Expressways – FG
Politics

Ibori’s Loot Will Fund 2nd Niger Bridge, Lagos–Ibadan, Abuja–Kano Expressways – FG

The federal government says the £4.2m loot recovered from James Ibori, former governor of Delta state, will be used to fund three infrastructural projects including the second Niger bridge. Abubakar Malami, attorney-general of the federation (AGF), listed the two other projects as the Lagos–Ibadan and Abuja–Kano expressways. The government had earlier deployed $321 million loot recovered from Sani Abacha, former head of state, for the construction of the same projects. The fresh loot was seized from Ibori who was convicted of fraud and money laundering by a UK court in 2012. It will be returned to Nigeria following a memorandum of understanding (MoU) signed on Tuesday by the federal government and the UK. At the MoU signing in Abuja, Malami said Nigeria remains committed...
FG Considers Fresh Taxes On Petroleum Products, Beverages
Politics

FG Considers Fresh Taxes On Petroleum Products, Beverages

As the Federal Government declared tax reliefs for businesses due to the economic impact of the COVID-19 pandemic, it is considering new taxes to generate revenue to fund the 2021 Appropriation Act. The Nigeria Customs Service also proposed the return of a N1.50 levy on every litre of petroleum product bought in the country. Non-alcoholic beverages are also to be taxed like alcoholic drinks and tobacco. Controller-General of the NCS, Col. Hameed Ali (retd.), had on Thursday appeared before the House of Representatives Committee on Customs to defend the service’s 2020 budgetary performance and 2021 proposal. Ali, who led top officials of the Customs before the committee, made written and oral submissions. The lawmakers also grilled him for about three hours. The Customs boss...
Malami To Pursue 2023 Presidential Ambition With Firm Control Of EFCC Fund – SR
Politics

Malami To Pursue 2023 Presidential Ambition With Firm Control Of EFCC Fund – SR

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has begun moves to take a shot at the 2023 presidency, SaharaReporters has learnt. Malami's bid, it was further gathered, will rely heavily on funds in the Economic and Financial Crimes Commission under the care of the new chairmanship. SaharaReporters learnt that Malami, who has the new EFCC Chairman, 40-year-old Abdulrasheed Bawa, in his pocket, has shelved his earlier ambition of contesting the Kebbi State governorship election and is rather eyeing the Presidency. It was gathered that Malami would use his influence in the Presidency to attempt to change the permutations in the All Progressives Congress or rather look for another party as cover to pursue his ambition. “The AGF has upgraded to...
Sick Veteran Actor, Adewale Adeyemo Begs For Fund To Survive
Entertainment

Sick Veteran Actor, Adewale Adeyemo Begs For Fund To Survive

Indeed, this life isn’t balance. Barely three months after Yorubamoviegist exclusively broke the news that Nollywood Veteran Actor, Prince Adewale Adeyemo was critically down with three strange ailments (damage in his Lung, Liver and Kidney) the actor we learnt is gradually recovering as good Samaritans home and abroad donated for his surgery. The Osun State born Prince was suffering from the ailments, thinking it was ulcer at first until when he had a serious attack in 2020 and he was rushed to a nearby general hospital. After series of tests, he was diagnosed with damage in his Lung, Liver and Kidney. He was recieving treatment at Private Godpromise Hospital, Oluke Odo Aremu Bus Stop, Ijoko, Ogun State. Now, the talented actor has been discharged from hospital. He is however...
Kanye West ‘Spent Whopping $13.2 Million’ on his Failed Presidential Campaign
Politics

Kanye West ‘Spent Whopping $13.2 Million’ on his Failed Presidential Campaign

American rapper, Kanye West reportedly spent a whooping $13.2 million including $12m of his own money on his failed Presidential bid in 2020. The 43-year-old announced his 2020 United States presidential election campaign through Twitter on July 4, 2020, Independence Day, and on July 16, 2020, the campaign filed a Statement of Candidacy with the Federal Election Commission. Kanye reportedly received around 57,000 votes across the 12 states in which he was in the running. According to a new report from People, Kanye West spent an eye-watering amount of money on his failed 2020 presidential attempt. In a Federal Election Commission report, the rapper contributed $12.5 million of his own money and raised a little over $2 million from outside contributions to fund his President...
The Level of Nigeria’s Borrowing is Not Unreasonable And is not High – Finance Minister, Zainab Ahmed
News

The Level of Nigeria’s Borrowing is Not Unreasonable And is not High – Finance Minister, Zainab Ahmed

The Minister of Finance, Zainab Ahmed, has said that Nigeria cannot make progress if it doesn't borrow to fund the building of its infrastructure. Ahmed at a media briefing at the statehouse Abuja on Thursday February 25, said this while reacting to criticism regarding high levels of borrowing by this administration. In her words ''The level of borrowing is not unreasonable. It is not high. If we say we will not borrow and therefore we will not build rails and major infrastructure until our revenue rises enough, we will regress as a country. We will be left behind. We wouldn't be able to improve our business environment and our economy will not grow. We just need to make sure that when we borrow, we apply the borrowing to specific major infrastructure that would enhance the b...
‘Kamala Harris will be Impeached in 2022 if Republicans Take Back the House’ – U.S. Senator, Lindsey Graham Warns
Politics

‘Kamala Harris will be Impeached in 2022 if Republicans Take Back the House’ – U.S. Senator, Lindsey Graham Warns

U.S. Senator and Trump ally, Lindsey Graham has warned that if Republicans take control of the House of Representatives in next year’s mid-term elections, Vice President Kamala Harris could face impeachment for her tweet supporting a bail fund for Black Lives Matter protesters over the summer It's the first time a top senator from the Republican party will be admitting to plans by the Republican party to revenge against Democrats for twice impeaching Donald Trump Speaking in an interview on “Fox News Sunday,” a day after the U.S. Senate acquitted President Trump, the South Carolina Republican said the former president’s impeachment trial, brought forth because of the deadly Jan. 6 Capitol riots, “opened Pandora’s Box.” and would make Republicans want to pay back. “If you use t...
Actors Guild Launches Fund For Ailing Members
Entertainment

Actors Guild Launches Fund For Ailing Members

Piqued by the spate of life-threatening ailments and sudden deaths that have engulfed the Nigerian movie industry in recent times, the leadership of the Actors Guild of Nigeria, AGN, has launched an internal appeal fund to support the families of their deceased members as well as provide quick medical interventions for those who are bedridden for various ailments. This was made known in a statement issued, Monday, by Kemi Adekomi, Senior Special Adviser to AGN President on Media and Publicity. According to the statement, AGN President, Emeka Rollas is highly saddened by the recent spate of deaths in the industry. The statement read: “As is his usual style of carrying members of the Guild along in all he does, the President has been making a passionate appeal to members and Nol...
Fenerbahce President Asks Fans To Help Fund Mesut Ozil’s £13m Salary By Donating
Sport

Fenerbahce President Asks Fans To Help Fund Mesut Ozil’s £13m Salary By Donating

Fenerbahce have asked fans to help fund Mesut Ozil’s £13million wage packet by donating money through a text message campaign. The German playmaker is currently in Istanbul arranging a free transfer to the Turkish giants after reaching an agreement with current club Arsenal to terminate his contract in north London. Ozil was earning around £18million-a-year in wages from Arsenal and will be taking a pay cut when he completes a move to Fenerbahce, but the Turkish club’s president Ali Koc admitted his side needs financial support to complete the move. Koc announced: ‘We have a request for our fans. Please continue to support us, we are also dependent on your financial support. ‘On the day of the signature, I will ask you to break a record. With an SMS campaign. ‘Maybe 300,000, 500,0...
“I Was Forced To Borrow N5bn To Fund PDP Campaign” – Umahi
Politics

“I Was Forced To Borrow N5bn To Fund PDP Campaign” – Umahi

Governor of Ebonyi State, David Umahi yesterday said he was forced to borrow N5bn to fund the presidential campaign of the PDP in 2015. Umahi who decamped to the APC recently, stated this during an enlarged stakeholders meeting of the APC) in the state. Umahi : “When I was deputy governor, someone in high position from the South-east went and arranged loan of N5bn for me to fund presidential ambition of his government. And I had to sell some of my properties to pay the loan." Responding, the acting caretaker committee chairman of the PDP in the state, Fred Udogu, faulted the governor’s claims. “The governor has been feeding people of the state with all manner of lies and propaganda just to tarnish the image of the PDP and its members but we are preparing. “Political fight i...
NFF Gets Fifa’s $1m Palliative, $600, 000 Mini Stadia Fund
Sport

NFF Gets Fifa’s $1m Palliative, $600, 000 Mini Stadia Fund

The Nigeria Football Federation (NFF) has revealed that it finally received the $1 million palliatives promised it by the world football governing body, FIFA. The federation also said it has received $600, 000 from the football body for the construction of two mini stadia in the country. Announcing the receipt of the funds on his Twitter handle yesterday, NFF President, Amaju Pinnick, said the federation got the fund on Monday and has also reconfirmed what it is meant for from FIFA. He added, “As a further breakdown, the $1 million for palliatives is composed of $500,000 for men’s football and $500,000 for the women’s game. FIFA has also promised to send the Federation an additional $500,000 sometime in January 2021, also as part of COVID-19 palliative efforts. “FIFA also s...
FG Approves Fund For Training Of 500,000 Youth On Digital Skills
Politics

FG Approves Fund For Training Of 500,000 Youth On Digital Skills

Sunday Dare, minister of youth and sports, disclosed this while speaking at the inaugural edition of the Nigerian Bottling Company (NBC) youth summit. Speaking on the topic ‘Strategic Roadmap for Youth Development post-COVID-19’, Dare said the programme was part of the ministry’s DEEL initiative – Digital skills acquisition, Entrepreneurship, Employability and Leadership — introduced in November 2019. Dare said the programme, which will run for the next 12 months, has been captured under the economic sustainability plan of the federal government. “The Economic Sustainability Plan (ESP) has taken into cognizance the DEEL initiative, and I am glad to announce that we have gotten approval for the funding of a 12-month programme under the initiative that will see 500,000 of our yo...
US DOJ Says Kingsley Kuku Used Stolen Billions From Amnesty To Fund Air Peace
News

US DOJ Says Kingsley Kuku Used Stolen Billions From Amnesty To Fund Air Peace

The United States Department of Justice has alleged that billions of naira stolen from the Presidential Amnesty Programme by a former head of the office, Mr. Kingsley Kuku, were transferred to bank accounts in the United States where they were laundered and used to purchase airplanes to start Air Peace as well as luxury homes and vehicles. Kuku served as Special Adviser to the President on Niger Delta Affairs and was Chairman of the Presidential Amnesty Office under President Goodluck Jonathan, who served from 2010-2015. Air Peace, which was launched in 2013, is Nigeria’s largest carrier with a fleet size of about 23 airplanes. The revelation by the US DOJ clearly poses multiple challenges and risks for the airline if the US government successfully prosecutes the charges of money l...
Lauretta Onochie Asks EFCC, ICPC To Probe FFK Over N2bn Missing Aviation Fund
Politics

Lauretta Onochie Asks EFCC, ICPC To Probe FFK Over N2bn Missing Aviation Fund

The insult Femi Fani-Kayode recently made at a Daily Trust journalist appears to have opened his page again on the corruption allegation made against him as Aviation minister. According to reports, President Buhari's media aide, Lauretta Onochie has called for an immediate probe into the ex-minister’s dealing while in office. She made the call on Saturday, August 29, by urging the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) to look into an allegation levelled against him by Minister of Transportation, Rotimi Amaechi. Amaechi who claimed that FFK, as he is popularly called, made away with N2 billion made for a runway construction in Port Harcourt. Speaking during an interview with Channels TV, the Transport minister s...
COVID-19: FG Approves N10 Billion Survival Fund For Transport Sector
News

COVID-19: FG Approves N10 Billion Survival Fund For Transport Sector

The Hon. Min. of State @MinTransportNG, Sen. Gbemisola Saraki, has disclosed that FG has approved a ₦10 billion survival fund for transport workers and operators to help cushion the sufferings encountered by road transport workers and operators as a result of #COVID19 pandemic. The HMoS made this known when the President, Public Transport Owners of Nigeria Association (PTONA), Engr. Isaac Uhunwagho, led the Association’s National Executive Committee and Trustees to pay her a courtesy call in Abuja recently. She informed the delegation that the fund is domiciled with @TradeInvestNG adding that the Federal @MinTransportNG is currently working on the modalities for its disbursement.
FG May Sell Public Assets To Fund 2020 Budget
Politics

FG May Sell Public Assets To Fund 2020 Budget

Indications have emerged that more public assets may be put up for sale by the Federal Government as the Bureau of Public Enterprises reviews the 2020 Privatisation Work Plan. Checks by our correspondent revealed that work on the review of the privatisation work plan is ongoing.The revised 2020 budget has a deficit of N5.37tn. Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had said the Federal Government intended to finance the deficit through domestic and foreign borrowing, as well as proceeds from privatisation of public assets. Our correspondent learnt that the BPE is reviewing the 2020 Privatisation Work Plan.The review of the work plan was informed by the drop in the projected revenue that will accrue to the Federal Government within the year. Directo...
Sell Presidential Jets, Cancel N27bn National Assembly Renovation Fund – Atiku
Politics

Sell Presidential Jets, Cancel N27bn National Assembly Renovation Fund – Atiku

Former Vice-President, Atiku Abubakar, has faulted the latest review of the 2020 budget by the Federal Government, saying it shows that the regime has lost touch with current global economic realities. Rather than reviewing the budget, Atiku advised the FG to sell eight or nine of the presidential jets and cancel the N27bn earmarked for the renovation of the National Assembly complex. Atiku said this in a statement in Abuja, on Thursday. He expressed disappointment that despite the crash of oil prices in the international market and the nation’s inability to expand its revenue base, the regime only slashed the budget by a “mere 0.6 per cent.” The former Vice President explained that significant cuts in funds budgeted for presidential feeding and transport as well as non-essent...
₦5.548 Trillion Available To Fund 2020 Budget – Zainab Ahmed
Politics

₦5.548 Trillion Available To Fund 2020 Budget – Zainab Ahmed

While briefing the leadership of the National Assembly on Thursday, the Minister of Finance, Zainab Ahmed, reveal that the amount available for funding the 2020 Budget is now estimated at N5.548 trillion. The minister also spoke on the plan by the federal government to amend the N10.59 trillion 2020 budget passed by the National Assembly in December last year. She said the budget is down from N8.419 trillion, a revised revenue estimate which is 34 percent (N2.87 trillion) lower than what was initially approved, adding that the crude oil benchmark price is reduced from US$57 per barrel to US$25 per barrel. The Minister said; The federal government also adjusted the budget exchange rate to N360/US$1; and reduced the upfront fiscal deductions by the Nigerian National Petroleum C...
Go Back To Your Labs, Develop Nigerian Vaccine, We Will Fund It, CBN Tells
News

Go Back To Your Labs, Develop Nigerian Vaccine, We Will Fund It, CBN Tells

The Central Bank of Nigeria has called on Nigerians to head to the laboratories in order to research a vaccine for the novel coronavirus with a promise to assist with funding. CBN governor, Godwin Emefiele disclosed this at the unveiling of the THISDAY Dome Testing, Tracing & Treatment Centre in Abuja, on Tuesday stating that the CBN was developing a framework that would provide grants and long term facilities for researchers to develop the Nigerian Vaccine. Emiefiele said, “Our objective is to improve the capacity of our health system to address emerging public health challenges.” “Needless to state that if we are to wait for foreign countries to develop their own vaccines, we will be the last in the queue to receive curative remedies for our teeming population”. H...
Germany Donates Additional N2.2bn To Nigeria Humanitarian Fund
News

Germany Donates Additional N2.2bn To Nigeria Humanitarian Fund

Germany has announced another financial intervention to assist Nigeria in its response to the coronavirus pandemic. Announcing in a statement via Twitter on Tuesday, the country said it is providing €5.5 million this time to support vulnerable people in Nigeria’s North-Eastern states of Borno, Adamawa and Yobe. The statement read, “Germany provides an additional €5.5 million (c. 2.2bn Naira) to the Nigeria Humanitarian Fund managed by the United Nations Office for the Coordination of Humanitarian Affairs in Nigeria to continue life-saving aid in Borno, Adamawa and Yobe States in the context of the COVID-19 crisis. “Ongoing activities include drilling of wells, construction of sanitation facilities, rehabilitation of buildings or construction of shelters for internally displace...
Kaduna Cuts Public Servants Salary By 25% To Fund Support Packages
Politics

Kaduna Cuts Public Servants Salary By 25% To Fund Support Packages

Kaduna State Governor Nasir El-Rufai on Sunday announced that the state public servants earning, at least, N67, 000 will have 25 per cent of their salaries ‘donated’ to the state’s purse until the end of the quarantine period. Kaduna is one of the Nigerian states that have confirmed cases of coronavirus. The state put in place a quarantine order to curtail the spread of the virus which has killed over 203, 000 persons worldwide. El-Rufai himself only recovered from the viral infection a few days ago. The state government did not say if the ‘donation’ was made voluntarily by affected civil servants. “Career public servants earning a net pay of N67,000 and above after tax will also donate 25% of their pay monthly whilst the quarantine conditions are in place,” El-Rufai’s medi...
CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday
News

CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday

Barring any last-minute change in plans, the disbursement of the first tranche of the Central Bank of Nigeria N50bn targeted credit facility would begin on Thursday. The fund, which is being managed by the NIRSAL Microfinance Bank, has received over 80,000 applications. The Managing Director, NIRSAL Microfinance Bank, Mr Abubakar Kure, confirmed the development in a telephone interview with our correspondent. Kure, who did not provide the amount to be disbursed in the first tranche, said that those whose applications were successful would start receiving their fund on Thursday. He said, “But we are hopeful that towards Thursday or Friday, the disbursement of the fund would commence.” The CBN had introduced the N50bn Targeted Credit Facility as a stimulus package to suppo...
La Liga training return agreed as authorities create €10m coronavirus fund for athletes
Sport

La Liga training return agreed as authorities create €10m coronavirus fund for athletes

Spain's sporting authority has agreed a plan of action with La Liga and the RFEF for the resumption of football and a relief fund La Liga teams have been told they will be able to return to training provided they comply with protocols laid out by the Spanish government. The decision was made following a meeting on Sunday between Spain's National Sports Council (CSD), the Royal Spanish Football Federation (RFEF) and La Liga. The intention is to permit players to resume training subject to the progress of the coronavirus pandemic "and the decisions adopted by the Ministry of Health", the CSD said in a statement.
Donations to Combat Coronavirus in Nigeria Hits N25.8bn
News

Donations to Combat Coronavirus in Nigeria Hits N25.8bn

The donations to combat Coronavirus in Nigeria has risen to N25.8bn as confirmed in a statement released by Isaac Okoroafor, the Director of Corporate Communications at the Central Bank of Nigeria. In the statement released on Friday, Mr. Okoroafor said the coalition "conveys its gratitude to all the institutions and individuals that have generously donated to this fund" Okorafor urged others to "consider contributing to this national solidarity to provide not only medical equipment and materials but also to render urgently needed palliatives to the poor and vulnerable segments of our society." “We urge others to consider contributing to this national solidarity to provide not only medical equipment and materials but also to render urgently needed palliatives to the poor and vuln...
SERAP Asks Lawan, Gbaja To Give ₦37 Billion NASS Renovation Fund To States
Politics

SERAP Asks Lawan, Gbaja To Give ₦37 Billion NASS Renovation Fund To States

Socio-Economic Rights and Accountability Project (SERAP) has sent an urgent appeal to the Senate President, Dr Ahmad Lawan and Speaker of the House of Representatives, Mr Femi Gbajabiamila urging them to “immediately make a public commitment to redirect the N37 billion for the renovation of the National Assembly complex to give N1 billion to each of the 36 states, and the Federal Capital Territory, Abuja, as COVID-19 direct reliefs and benefits to the country’s poorest and most vulnerable people.” SERAP said: “We applaud the patriotic steps and voluntary contributions already made by the National Assembly towards fighting COVID-19 in the country. We now urge you to make major strides to national efforts to deal with one of the greatest threats facing the country by immediately redir...
Japan To Fund Firms To Shift Production Out Of China
Business

Japan To Fund Firms To Shift Production Out Of China

Japan has earmarked of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners. The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen ( ) for companies shifting production back to Japan and 23.5 billion yen for those seeking to move production to other countries, according to details of the plan posted online. The move coincides with what should have been a celebration of friendlier ties between the two countries. Chinese President Xi Jinping was supposed to be on a state visit to Japan early this month. But what would have been the first visit of its sort in a decade was postponed a month ago amid the spread of t...
Newcastle hero Rob Lee calls for Mike Ashley to sell
Sport

Newcastle hero Rob Lee calls for Mike Ashley to sell

Newcastle United hero Rob Lee says it's time for club owner Mike Ashley to sell up. Since the coronavirus pandemic rapidly unfolded and the UK went into lockdown, fresh reports have suggested that Saudi Arabia's Public Investment Fund and Amanda Staveley want to take Newcastle off Ashley's hands. Lee told the Evening Chronicle: "Mike Ashley has had more than enough time to make the club his own. "The way he wants to run NUFC is not how the fans want to see it run. "Let's be clear whoever comes in next could still be worse. We don't know if it will be better or worse, but it is time for a change as success certainly has not happened with Ashley in charge. "We don't know who will come in and whether they could be worse but I would rather try something than sitting doing nothin...
FG To Set Up Panel To Monitor COVID-19 Fund Usage
News

FG To Set Up Panel To Monitor COVID-19 Fund Usage

The Federal Government will soon constitute a special committee to monitor the disbursement of donations made by individuals , corporate organisations and public sector players towards addressing the coronavirus pandemic . The Minister of Finance , Budget and National Planning , Mrs Zainab Ahmed, confirmed the development during an interview with journalists in Abuja on Tuesday . She said members of the committee would be made up of individuals from both the private and public sector . Ahmed said the need to monitor the usage of the funds had become compelling to ensure transparency and accountability . She said while the Presidential Task Force and the Accountant-General ’s office would be saddled with the responsibility of disbursement, the separate committee would be in ch...
Jack Dorsey To Donate $1 Billion To Fund Global COVID-19 Relief
Health

Jack Dorsey To Donate $1 Billion To Fund Global COVID-19 Relief

I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI. It will operate transparently, all flows tracked here: https:///hVkUczDQmz Why UBI and girl’s health and education? I believe they represent the best long-term solutions to the existential problems facing the world. UBI is a great idea needing experimentation. Girl’s health and education is critical to balance: https:///dC3dU6hvxB Why is #startsmall a LLC? This segments and dedicates my shares to these causes, and provides flexibility. Grants will be made from Start Small Foundation or the LLC directly based on the beneficiary org. All transfers, sales, and grants will be made public in t...
COVID-19 Intervention Fund: Comedian I Go Dye Writes Buhari
News

COVID-19 Intervention Fund: Comedian I Go Dye Writes Buhari

Popular humour merchant, Igodye has written a letter to President Muhammadu Buhari stating that the funds to be released for the fight against the novel coronavirus would only turn one man into a billionaire because those who are supposed to get the fund would not get it. The comedian shared a copy of the letter via a post on his official Instagram page on Sunday, 5th April. He wrote: LETTER TO PRESIDENT @muhammadubuhari THE MONEY YOU ANNOUNCED ON #CORONAVIRUS IS TO MAKE ONE MAN BILLIONAIRE BECAUSE THE MONEY WILL NOT GET TO THOSE WHO TRULY NEED IT MORE. OUR NEGLIGENCE IS A DEVASTATING TIME BOMB Your Excellency, I am making this passionate appeal to you as a world Habitat Ambassador, asking that you take a stance so as to protect us against severe damage, loss of lives...
Coronavirus: FG Seeks National Assembly’s Approval For N500bn Intervention Fund
Politics

Coronavirus: FG Seeks National Assembly’s Approval For N500bn Intervention Fund

Following the outbreak of the deadly Coronavirus, COVID- 19 that is at the moment, ravaging the world, the Federal Government is asking the National Assembly to approve the proposed establishment of a N500 billion COVID-19 Crisis Intervention Fund as proposed by the Executive. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed who along side, Senior officials from her ministry, held a meeting with the President of the Senate, Ahmad Lawan and Speaker of the House of Representatives, Hon. Femi Gbajabiamila on Saturday intimated the National Assembly of Federal Government’s plans to put up such an intervention fund. The meeting which took place at the National Assembly, was also attended by the Deputy Senate President, Senator Ovie Omo-Agege, Deputy Speaker, Hon...
Lekki Deep Seaport Receives $221 Million China Harbour Equity Fund, Gets New CEO
Business

Lekki Deep Seaport Receives $221 Million China Harbour Equity Fund, Gets New CEO

Lekki Port LFTZ Enterprise Limited (LPLEL) has now received the infusion of $221,047, 248 equity funding from China Harbour Engineering Company (CHEC), one of the shareholders of the Lekki Deep Sea Port Project currently under construction at the Lagos Free Trade Zone, Ibeju Lekki. This was disclosed by the Chairman of Lekki Port LFTZ Enterprise Limited, Mr. Biodun Dabiri, in Lagos at the end of the board meeting held on Tuesday via teleconferencing. “I am pleased to confirm that Lekki Port has received the $221,047,248 equity funding from China Harbour Engineering Company. The payment was received on Monday, 30th March 2020”, he said. According to Dabiri, this equity injection coming at this time when the world is battling the COVID-19 pandemic shows the deep commitment of CH...
I Did Not Donate N1 Billion To COVID-19 Relief Fund – Peter Obi
Politics

I Did Not Donate N1 Billion To COVID-19 Relief Fund – Peter Obi

The Vice Presidential Candidate of the Peoples Democratic Party (PDP), Mr. Peter Obi, has dismissed social media reports that he donated N1 billion to the Coronavirus (COVID-19) relief fund. “I have not donated to the fund”, Obi said in a statement issued on Tuesday, by his Media Office and signed by Mr. Valentine Obienyem. Reacting to the list of purported donors to the fund, which has gone viral, in which his name appears as number 33 and a billion Naira indicated as the amount he has allegedly donated, Obi said the issue at hand was so scary and of great importance to the world, especially our dear country to be tainted by any manner of fake news. He implored purveyors of fake news to desist from that. “As a Nigerian, I am deeply worried about the situation in the world esp...
20-yr-old Robbery Suspect Claims he Went into Robbery to Fund his Wedding
News

20-yr-old Robbery Suspect Claims he Went into Robbery to Fund his Wedding

A 20-year-old robbery suspect arrested by Bauchi state police along with three suspects says he got into it to raise fund for his wedding. The Bauchi State police arrested three suspects, Shehu Abdullahi, 20, Babawuro Jauro Sani, 27, and Wada Wakili Musa, 25, who are responsible for some armed robberies in the state. The suspects allegedly carried out the recent armed robbery attack of 18/02/2020 on the innocent commuters along Kano-Maiduguri highway after barricading the road with heavy log of woods. One of them, Abdullahi, in his confession, said that he was planning to use his share of the proceeds to get married. According to him: “Honestly, I wanted to marry and I did not have the money. I wanted to use it to marry.”
Former Kano Assembly Speaker, Isyaku Ali Danja Arrested by EFCC
News

Former Kano Assembly Speaker, Isyaku Ali Danja Arrested by EFCC

Isyaku Ali Danja, a former Kano House of Assembly speaker has been arrested by the Economic and Financial Crimes Commission (EFCC) on charges centered on abuse of office and misappropriation of fund meant for constituency projects. Danja who was accused of diverting funds meant for payment of tax liabilities to Federal Inland Revenue Service (FIRS) to the tune of over N1.5 billion, was arrested following a petition filed against him by the State Government. The money has allegedly been traced to some beneficiaries and Allad Drilling Limited, a company which he is the sole signatory. It was also alleged that the diverted funds were on several occasions, personally withdrawn in cash by the former Speaker.
Conjoined Twins Born in Kaduna are Yet to be Taken to Hospital two Weeks after Birth, Due to lack of fund
News

Conjoined Twins Born in Kaduna are Yet to be Taken to Hospital two Weeks after Birth, Due to lack of fund

A set of conjoined twins born in Kaduna are still being taken care of at home by their parents Muhammad Bashir, a wheelbarrow pusher and Zainab Sale two weeks after birth. The twins, both girls, were born on January 30, 2020 at home in Kadege of Tudun Wadan Soba, Soba local government of Kaduna state. Speaking to Arewa Trust Weekly, the father of the twins, Muhammad Bashir, said he could not take them to hospital for medical attention, because he did not have the means to do so. Muhammad said his wife, Zainab Sale, was forced to deliver the babies at home because his major priority was to get what to put on the table for the family. He said he was only a peasant farmer and because he could not live on his produce he was forced to augment his income by pushing wheelbarrow. ...
Nigerian Billions Diverted To Fund Private Universities In Uganda – Bello Magaji
Education

Nigerian Billions Diverted To Fund Private Universities In Uganda – Bello Magaji

Dr. Mohammed Bello Magaji is a Nigerian lawyer based in Uganda where he lectures at Kampala International University, Uganda, East Africa. Magaji told Saturday Sun in a telephone interview that lecturers sent to Uganda by Nigerian government under the auspices of Technical Aid Corps (TAC) every two years are mostly enjoyed by private universities in the East African country instead of public institutions as stipulated by law. He said the proprietors of those private universities, “smile to the bank as their core staff are being paid by a father Christmas called Nigeria.” NOAH EBIJE conducted the interview. He also noted that there are cases of sex for marks in higher institutions in Uganda, but very minimal compared to Nigeria where some lecturers had been caught, arrested, pr...
36 State Governors Meet In Abuja Over Bailout Fund Repayment
Politics

36 State Governors Meet In Abuja Over Bailout Fund Repayment

The 36 state governors, under the umbrella of Nigeria Governors’ Forum are currently meeting in Abuja. According to the agenda of the meeting, the governors would discuss the time frame for the refund of the N614 billion bailout fund issued to the States by the Federal Government. The News Agency of Nigeria reports that the development was a sequel to the notice given to the states by the Federal Government to recover the loan facility. The governors, according to the meeting agenda, would deliberate on getting an update on deductions for budget support facility from the appropriate organ of government. They are also scheduled to discuss a proposal for recovery of funds due to state governments, withholding tax issues, collection of grand rent, NTEL and MTEL, among other ma...
Fed Govt. To Launch New Culture Policy, Establish Endowment Fund For Arts
Politics

Fed Govt. To Launch New Culture Policy, Establish Endowment Fund For Arts

The Minister of Information and Culture, Alhaji Lai Mohammed, has revealed the Federal Government’s plan to launch a National Policy on Culture as well as National Policy on Tourism. Speaking in Lagos yesterday at a media briefing to unveil his ministry’s agenda for the culture and tourism sector, he reiterated the government’s determination to lift the creative industry and make the country a tourism hub.While reeling out his agenda to build on the gains of the past four years, he said plans were on to create the necessary legal framework for the sector. The Guardian gathered that there was an attempt at reviewing the culture policy in 2008, some 21 years after it was formulated, but the exercise came rather late. According to the United Nations Educational, Scientific and Cultu...

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/gqbzggmy/public_html/wp-includes/functions.php on line 5107