Month: June 2024

The Tripartite Committee on National Minimum Wage (TCNMW), says it will hold its 8th meeting on June 4 to continue negotiations.

Mr Ekpo Nta, member and Secretary of the committee said this in a statement on Monday in Abuja.

According to Nta, I respectfully invite you to attend the 8th meeting of the Tripartite Committee on National Minimum Wage.

‘The meeting is scheduled to hold on Tuesday, June 4, 2024, at Nicon Luxury Hotel, Area 11, Abuja at 10.00 a.m. prompt,” he said.

He said that he minutes of the 7th meeting, the draft agenda for the 8th meeting, and the Zoom Link for virtual attendance will be forwarded in due course.

Nta called on the chairman of the committee, members and observers to take note.

It would be recalled that Organised Labour at the 7th TCNMW meeting had expressed disappointment that no governor was present at the last meeting.

Labour had also complained that ministers were absent except the minister of State for Labour and Employment who also doubles as a conciliator.

Labour s
aid that there was none present on the side of the government with appropriate authority to commit them to any outcome.

Meanwhile, labour has begun an indefinite nationwide strike following the Federal Government’s failure to meet their demand on the new minimum wage.

It would be recall that the Federal government was offering N60, 000 as the new national minimum wage for workers in the country while Labour is demanding for N470, 000.

Source: News Agency of Nigeria

The Nigerian Army on Monday handed over eight students of Confluence University of Science and Technology Osara, Kogi State, who were rescued on Sunday, to Gov. Ahmed Ododo, at Army Headquarters Abuja.

The handing over was conducted by the Deputy Chief of Operations (Army), Maj.-Gen. Emmanuel Emekah, on behalf of the Chief of Army Staff (COAS), Lt.-Gen. Taoreed Lagbaja.

Emekah said the troops of the Nigerian Army in synergy with operatives of the Nigeria Police Force and other security agencies, successfully rescued the abducted students who were taken hostage by terrorists.

He said the rescue operation took place in a dense forest near Oro Ago Village in Kwara following an intense clearance mission.

He added that the operation was still ongoing to apprehended the perpetrators of the dastardly act and bring them to book.

In his remarks, Gov. Ahmed Ododo thanked God Almighty for making it possible for the rescue of the students, adding that it was a mixed feeling for him as two of the 31 abducted students
were murdered.

Ododo said that 29 of the students were successfully rescued while appreciating the efforts of President Bola Tinubu and the military for the fight against insecurity in the country.

He also thanked the National Security Adviser (NSA) for making the country’s security apparatus more effective, efficient and technology driven.

‘At this level, I have come to realise that the Nigerian army has all it takes to stamp out kidnapping, banditry and all forms of criminal activities from our land.

‘Because the level of synergy, the level of understanding, collaboration and coordination carried out by them professionally is highly commendable and I sincerely appreciate you and your men.

‘I want to promise that Kogi State will always be there to partner with you and we are ever ready to answer your call at any point in time and fighting crimes and criminality in our land.

‘We have all it takes in terms of equipment and we will continue to collaborate and synergise with your agencies to make sure our
land is free of all these criminalities,’ he said.

Ododo assured the student that the government would continue to support them to ensure that they succeed in their aspiration and educational pursuits.

According to him, Kogi is a state that is well known to be well blessed with mineral deposits and that deposit must work for the state.

He said the criminals had now known that Kogi was not a safe heaven for them, assuring that no criminal that entered the state would be spared.

The governor commended the army for its efforts and display of professionalism in carrying out the rescue operation.

Source: News Agency of Nigeria

The Federal Mortgage Bank of Nigeria (FMBN) on Monday inaugurated seven specialised task teams to recover all the bank’s Non-Performing Loans (NPLs) nationwide.

While inaugurating the teams in Abuja, Chief Executive Officer/Managing Director of the bank, Shehu Osidi, said the move was to reduce non-performing loans.

Osidi said the move became expedient to safeguard the bank’s financial interests and sustain its lending operations.

He said that over the years, FMBN had played a crucial role in providing affordable housing finance to Nigerians, hence contributing significantly to advancing the national housing agenda and promoting the home ownership scheme.

‘However, the sustainability of these efforts hinges on our ability to recover loans effectively and reinvest them in future projects; unfortunately, the bank has performed poorly in this regard.

‘Loan recovery is a critical component of our financial management strategy.

‘This is to ensure that funds are available for disbursement to new beneficiaries
while maintaining the integrity of our lending operations.

‘Regardless of the successes recorded in our home delivery efforts, we must acknowledge the enormous challenges we face with our non-performing loans.

‘While some of the non-performing loans are due to infractions from external parties and factors, a huge chunk of blame also lies with us as internal stakeholders hand-in-hand with glaring administrative and operational inefficiencies.”

Osidi said henceforth, staff would be held accountable for the outcome of credit decisions over which they had played critical roles.

He said the strategy adopted by FMBN in the loan recovery endeavour was to follow a different path by challenging, ‘ourselves to deliver tangible results in pursuance and defense of our common destiny.

‘The inauguration of these task teams marks a significant milestone in our ongoing efforts to enhance the financial stability and operational efficiency of the bank,” he said.

Osidi added that part of the assignment of the task teams
includes conducting desk reviews of assigned loan portfolios, including the history of loans, houses available, state of collaterals, outstanding balances, and personalities behind the loans.

He explained that the teams are expected to look at the segmentation of the loans and the chances of recovery, develop an overreaching recovery strategy, engage relevant stakeholders, and use both conventional and informal, but acceptable strategies to carry out the recoveries.

He said in case the teams resorted to security agencies or the court, such action should not be made without the Executive Management’s approval.

Osidi observed that the team will be required to render regular updates and progress reports to the executive management and monitor and track the progress of debt recovery efforts.

He added that they will also implement measures aimed at preventing NPLs, developing risk mitigation strategies, and enhancing the credit assessment process, among others.

He said the teams were segmented along geo-polit
ical zones and each team would handle all delinquent loans within its jurisdiction.

He said Team One (FCT) would be led by Dr Kabir Yagboyaju as Chairman, Mr Jibo Ibrahim Chairman of Team Two (North-West), TLG Elayo, Chairman of Team Three (North-Central), and Mr Gbenga Babade, Chairman of Team Four (South-West).

Others included: Ms Oby Nwokedi, Chairperson of Team Five (South-East), Mr Nafada Ibrahim, Chairman of Team Six (North-East,); and Ms Felicia Aningo, Chairperson of Team Seven (South-South).

‘Speed is of the essence because each team has only 10 weeks to complete this assignment and deliver results.

‘That is two weeks for desk review and eight weeks for the assignment,’ he said.

Ms Chinenye Anosike, Executive Director, Business Development and Portfolio Management, FMBN, congratulated the members of the task teams.

She told the teams that they were carefully selected to deliver on the mandate.

Anosike, therefore, urged them not to pay lip service to the loan recovery task but to work hard and
use their expertise to deliver good results within the expected timeframe.

Mr Muhammed Abdu, Executive Director, Loans and Mortgage Services, FMBN, said the loan recovery task given to the teams was an onerous responsibility and an epoch-making exercise aimed at reinventing the growth, development, and future of the bank.

Abdu then assured the bank’s management of the team’s commitment to working in synergy, to be selfless, objective, time-conscious, and passionate about the job, to make the bank very proud and bigger at the end of the day.

Source: News Agency of Nigeria

A group known as Emmanuel TV Partners, on Sunday, distributed food items worth over N15 million in FCT communities.

Mrs Ogechi Tagbo, Coordinator of the group, said that the food items were distributed in commemoration of the third anniversary of the passing of Temitope Joshua (TB Joshua), Founder of the Synagogue Church of all Nations (SCOAN).

The News Agency of Nigeria (NAN) reports that Emmanuel TV is the media arm of SCOAN

According to Tagbo, the initiative is to honour the legacy of the late Joshua and support the less privileged in the society.

She recalled his humanitarian services and its impact both within and outside Nigeria, especially during natural disasters and conflicts.

‘Emmanuel TV Partners Abuja made a vow to continue spreading the love and teachings of Jesus Christ, as exemplified by TB Joshua.

‘Our outreach today is a testament to the selfless and generous spirit of our late Prophet. We aim to continue his legacy of love, faith, and support for the less privileged,’ she said.

She sa
id that the essential items including 350 tubers of yam, 300 bags of rice, 350 cartons of noodles, wrappers, mobile phones for the elderly, bread, and beverages, drinks, toiletries and cash gifts were distributed.

Tagbo said these would support the elderly, widows, and other vulnerable members in the community, especially with the economic challenges bedevilling the nation.

Tagbo said that the group would also visit the Gifted and Talented Orphanage in Trademore and the FCT School of the Blind in Jabi to support the vulnerable groups as part of the evangelical outreach.

She revealed that similar gestures would also be replicated by Emmanuel TV partners all over the world, where food items and livelihood support would be distributed to support the less privileged.

Eno Ekanem, one of the partners, said that the outreach was to show love and give back to the community to show God’s blessing.

‘Our goal is to reach out to those who can not provide for themselves, especially the elderly and the downtrodden,’ h
e said.

Similarly, Nneka Mba, another member, commended the substantial nature of the donations in spite of the current economic situation.

‘Considering the current economic situation, we have managed to gather significant quantities of rice, beans, noodles, and other essentials.

‘Our contributions are valued between N15 million to N16 million,’ she said.

Japhet Akawu, traditional ruler of Tasha Village Jiwa Chiefdom, expressed appreciation for the gesture.

‘Today’s generosity from Emmanuel TV Partners signifies a turning point for our community. This act of kindness brings hope and is a blessing for us all,’ he remarked.

Source: News Agency of Nigeria

Addis Ababa: Ethiopian Civil Aviation International Security Audit began in Addis Ababa today.

The international security audit will be held until the 13th of June, 2024.

The international audit is underway for the first time under the coordination of the National Intelligence and Security Service in partnership with the International Civil Aviation Organization.

The opening of the audit was attended by senior government officials from the National Intelligence and Security Service, Information Network Security Administration (INSA), Immigration and Citizenship Service, Ministry of Transport and Logistics, and Civil Aviation Authority among others.

Source: Ethiopian News Agency

Addis Ababa: Ethiopia’s Minister of Education, Berhanu Nega conferred with South Korean Deputy Prime Minister and Minister of Education, Lee Ju-Ho.

On the occasion, the two sides exchanged views on ways to work together in the education sector.

The Deputy Prime Minister affirmed that South Korea will provide support to Ethiopia’s education sector in the areas of higher education, general education and teachers training programs.

Source: Ethiopian News Agency