FG: Agric to solve challenges arising from COVID-19

Awele Madu

  The Federal Government has disclosed that agriculture is the best way to beat the triple problem of low foreign exchange, huge unem­ployment and negative growth caused by COVID-19 in line with Mr. President’s mantra ‘to produce what we eat and eat what we produce.’   With this, the government is focusing on agriculture, increasing the acreage under cultivation and engaging thousands of young people in farming and agro-allied jobs.   Also, the government is expecting the N2.3 trillion stimulus package under the Economic Sustainability Plan to bring between 20,000…

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African Alliance earns ISO 22301:2012

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  Nigeria’s foremost life insurer, African Alliance Insurance Plc, has been awarded the ISO 22401:2012 certificate for Business Continuity Management (BCM).   The certificate, which was awarded by the Professional Evaluation and Certification Board (PECB) signifies that African Alliance has met the requirements for BusinessContinuity Management (BCM).   ISO 22301:2012 is a globally recognized Business Continuity management standard developed and published by the International Standards Organization (ISO). This standard provides a model that organizations of all types and sizes can use in building an effective Business Continuity System.   ISO…

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Recapitalisation: NAICOM tightens noose on underwriters

Dorothy Ewah

  …says assets, others must be converted to cash   With four months left to the end of the first phase of recapitalisation, the National Insurance Commision (NAICOM) has further tightened its noose on insurance companies  with regard to meeting the minimum paid-up share capital in cash.   The first phase of the recapitalistion exercise is expected to end December 31, 2020 while the whole process ends September 2021.   In a circular issued yesterday, which is furtherance to earlier ones referenced /25/2019, dated May 20, 2019, July 23, 2019…

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COVID-19: Expert raises security concern over virtual meetings

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Organisations leveraging various online platforms for virtual meeting as a result of the coronavirus pandemic face the risk of data compromise, a cybersecurity expert has warned. Process engineering analyst at Mi-C3 International, Mr. Adote Rock, who gave this warning during a webinar organised by the Nigeria Internet Registration Association (NiRA), said meetings over platforms such as Zoom could be recorded by anybody who is a participant and the information could be used against the organisation. “Zoom gives you the false impression that only you can authorise the recording of a…

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$111,500 fraud: EFCC arrests  undergraduates

Dorothy Ewah

  Operatives of the Port Harcourt zonal office of the Economic and Financial Crimes Commission, EFCC, have arrested four students of the University of Port Harcourt for their alleged involvement in internet fraud.   The quartet, who allegedly defrauded 15 victims of $111,500 are Prince Hyacinth; Rex Emadifie Oghene, Odili Ifeayi and Uduak Samuel Williams.   They were picked up on Thursday, August 20, 2020 from their hideout at Chibiak Avenue, Elenpranwo, Ada George,  Port Harcourt.

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Allocation: FG, states, LGs share N676.407bn

Dorothy Ewah

  The three tiers of government comprising federal, states and local government councils shared the sum of N676.407 billion in the month of July.   The amount was revenue that accrued into the federation purse in July 2020.   The figure was confirmed at the end of the monthly Federation Account Allocation Committee (FAAC) meeting for August 2020 held through virtual conferencing and chaired by Dr Mahmud Isa-Dutse, Permanent Secretary, Federal Ministry of Finance.   According to a statement issued by Henshaw Ogubike, Director (Information, Press and Public Relations) in…

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NIPC: Oil, aviation firms file for tax holiday

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Eight firms from power, oil and gas, ICT, and aviation sectors have filed fresh applications to the Nigerian Investment Promotion Commission (NIPC) for tax holiday. The commission disclosed this in its Q2 Pioneer Incentive Status report just released. A pioneer status incentive grants companies making investments in qualifying industries and products a tax holiday of three years from the payment of company income tax. The three-year tax holiday has the possibility of an extension for one or two additional years to enable the industry concerned to make a reasonable level…

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Factions: Uneasy calm as pensioners maintain conflicting stance

Dorothy Ewah

  The registration of a new pension body, Federal Parastatals and Private Sector Pensioners’ Association of Nigeria (FEPPAN) in the first quarter of 2019 by Minister of Labour and Employment, Sen. Chris Ngige, is still generation friction among the retirees.   Recently, majority of the affected pensioners under the Sectoral Units and Parastatals urged the Federal Government to respect their decision to remain under the Nigeria Union of Pensioners (NUP).   This was contained in a communique signed by the Chairman of all Sectoral Unions and Parastatals, Alex Abu, after…

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NBS scores Edo high on job creation

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  The unemployment rate in Edo State dropped from 25.1 per cent in the 3rd quarter of 2018 to 19 per cent in the 2nd Quarter of 2020, the National Bureau of Statistics (NBS) has said.   According to the “Labour Force Statistics: Unemployment and Underemployment Report,” released by the NBS last Friday, Edo State has the lowest unemployment figure in the South-South region.   Specifically, the report said: “The unemployment rate among states in the South-south is as follows: Akwa-Ibom 45.2 per cent; Bayelsa 27.8 per cent; Cross River…

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Group describes revelations from NDDC as nauseating

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A Niger Delta-based civil society organisation- Niger Delta Movement for Peace & Justice, has noted with great concern and total displeasure the ongoing massive looting, corruption, abuse of office and impunity in the Niger Delta Development Commission (NDDC) perpetuated by interim management committee under the supervision of the Minister of Niger Delta Affairs. In a statement signed by the National Coordinator of the movement, Comrade Etifit Nkereuwem,  the group said the recent revelations of accusations, allegations and counter accusations and allegations by the Minister of Niger Delta Affairs and IMC against…

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