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CBN: N2bn disbursed to over 7,000 beneficiaries under youth investment fund

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CBN: N2bn disbursed to over 7,000 beneficiaries under youth investment fund

The Central Bank of Nigeria (CBN) says a total of N2.04 billion has been disbursed to 7,075 beneficiaries under the National Youth Investment Fund (NYIF).

A total of 4,411 beneficiaries were individuals and 2,646 were small and medium enterprises (SMEs).

The CBN disclosed this in a communique issued at the end of its two-day monetary policy committee (MPC) meeting on Tuesday.

In 2020, the federal executive council (FEC) had approved a N75 billion youth investment fund targeted at young people between ages 18-35 years and with the ministry of youth and sports development, responsible for budgetary provisions and for funds mobilisation.

The programme financially empowers Nigerian youth to generate at least 500,000 jobs between 2020 and 2023.

The CBN said under the ABP, N631.4 billion was granted to 3,107,949 small holder farmers cultivating 3.8 million of land hectares; N111.7 billion granted to 29,026 beneficiaries under AGSMEIS; and N253.4 billion granted to 548,345 beneficiaries under the TCF, which comprises of 470,969 households and 77,376 SMEs.

CBN said these initiatives were used to inject liquidity into employment generation and enhance growth in the economy.

The apex bank also said N3.19 billion under its creative industry financing initiative to 341 beneficiaries across movie production, movie distribution, music and software development.

It further said that N1.84 trillion has been disbursed to real, healthcare and electricity sectors.

MPC said there is a strong need for the monetary authorities to consolidate on all administrative measures not only to tackle inflation but also on the actions so far taken to grow output.

It added that such measures should include boosting consumption and investments, as well as diversifying the base of Nigeria’s economy through foreign exchange restrictions for the importation of goods and food products that can be produced in the country.

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JOHESU, AHPA issue fresh 15 days nationwide strike notice

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The Joint Health Sector Unions and Assembly of Healthcare Professional Associations have issued a fresh 15 days strike notice.

This followed an unanimously resolution adopted by the two groups to step down the notice of strike due to expire midnight September 17 and issue a fresh notice of 15 days.

It would be recalled that the union had on September 2 issued the Federal Government a 15 days ultimatum to meet its demands or embark on nationwide strike at the expiry date.

The JOHESU Acting General Secretary, Chief Matthew Ajorutu, said this in a communique issued at the end of an Expanded National Executive Council emergency meeting of the union via Zoom and physical attendance on Friday in Abuja.

The expanded NEC had the Presidents and General Secretaries of affiliate unions and professional associations, NEC members of affiliate unions and JOHESU Chairmen and Secretaries at the state and branch levels.

Ajorutu said that NEC-in-session had critically appraised the reports of JOHESU negotiation and conciliation meetings with the Federal Government since the declaration of the trade dispute through the 15 days strike notice issued on September 2.

He said that NEC also noted the appeal from President Muhammadu Buhari on the need to show understanding with his administration and the President’s pledge to pay any debt owed health workers.

He said that NEC also received and examined reports of congresses held at various health facilities across the country on the mobilisation for the strike action due to commence at midnight on September 18.

According to Ajorutu, NEC, after long hours of exhaustive deliberations on issues surrounding the planned industrial action, resolved that the Federal Ministry of Health should ensure speedy circularisation of all establishment and welfare matters as agreed during negotiation meetings.

He said: “The Federal Government should ensure that the new data for the computation of the adjusted Consolidated Health Salary Structure (CONHESS) for JOHESU members be completed and submitted to the ‘High Level Body (HLB)’ of the FG not later than Wednesday, September 22, as agreed.

“NEC-in-session urges the Federal Government to ensure that the High Level Body (HLB) complete and submit the computation of the adjusted CONHESS for inclusion in the 2022 budget within the September 30th, submission window.

“NEC urges the Federal Government to reciprocate the patriotic humanitarian gesture of JOHESU in the interest of the larger Nigerian masses to expeditiously resolve all the demands within the fifteen days window.

“Finally, NEC-in-Session unanimously adopts a resolution to step down the notice of strike action due to expire mid-night September 17, and issue a fresh notice of fifteen days.”

The communique further said that NEC commended all members for their commitment and understanding towards the struggle for better working conditions, improved healthcare services and social justice for all.

Eagle Online

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Defection: Gumi knocks Fani-Kayode, calls him ‘Judas of Oduduwa’

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Popular Islamic cleric, Sheikh Ahmad Gumi, has described Femi Fani-Kayode as the ‘Judas of Oduduwa’ following his defection from the opposition party (PDP) to the All Progressive Congress (APC).

In a Facebook post on Thursday, Gumi wrote:

“I have for long, neglected the rantings of the Judas of Oduduwa attacking me knowing fully well that he is fake and a traitor.

“Time has now caught up with him and thanks to Allah, all his vituperations are cast in the dustbin of merciless history.

“It is him now, one wonders which of the seven circles of hell this duper will settle if he doesn’t repent.”

Recall that the Fani-Kayode, a former minister of aviation under President Olusegun Obasanjo, berated those fronting for bandits and terrorists in the country. Though he never mentioned names but his rhetorics suggested he was referring to Sheikh Gumi.

On joining the APC, Fani-Kayode, however, said that he was moved by the Spirit to defect from the Peoples Democratic Party (PDP) to the APC, pointing out that he was a founding member of the ruling party.

Arogbonlo Israel,Vanguard News Nigeria

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BDCs funding Boko Haram, kidnappings, says CBN governor

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The Central Bank of Nigeria (CBN) has accused operators of Bureaux de Change (BDC) of funding terrorism and kidnapping in the country.

Governor of the CBN, Godwin Emefiele, stated this in Abuja on Friday after the Monetary Policy Committee (MPC) meeting.

He also vowed that CBN would not rescind its decision to ban the sale of foreign exchange to the BDCs.

Emefiele said the CBN had resolved to stop funding the BDCs in the name of stabilising the forex market.

He said, “We have decided that this will stop and it has stopped for good. It beats my imagination that Nigeria carried on with this kind of practice that tended to support illegal activities of people who are involved in graft and involved in corrupt practices.”

He also said, “We have unwittingly supported activities of those who illegally buy foreign exchange from this illegal market, carry them in aircraft out of the country and go to buy arms and ammunition and bring them back into the country and conduct crime whether it is Boko Haram, kidnapping or all sorts of nefarious activities.

“We the CBN take our country’s dollar and sell to people to go and buy arms ammunition to come and hurt us. That is what we are saying that people want us to continue to do. We cannot do that any longer.”

He told bank customers with legitimate requests for forex exceeding the official limit that “your bank will speak to us and we will give you what is even more than the limit. We will continue to monitor the banks.

“We conducted a study, one of the banks sold in one day forex to 52 people who wanted to travel. After two weeks, they went to check, 40 out of the 52 had cancelled their tickets. They will have to return the forex or we will pursue you if you are involved in this nefarious activity. We are not going to go back there again.”

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