FG plans direct credit to vulnerable citizens through BVN – Newstrends
Connect with us

Business

FG plans direct credit to vulnerable citizens through BVN

Published

on

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the Federal Goverment, through the National Social Safety Nets Coordinating Office, is developing a Rapid Response Register to quickly scale up the enrolment of poor and vulnerable citizens.

She said this at the Open Government Partnership 2020 Virtual Leaders Summit Roundtable.

The event was to advance discourse and innovation around open response and open recovery measures in response to the COVID-19 pandemic.

According to her, data for the register are being sourced through primary and secondary sources, including the Nigeria Inter-bank Settlement System and the National Communication Commission database on mobile phone users.

In order to ensure transparency as well as mitigate corruption risks, the Minister said that payments would be made directly to the accounts of the individuals, using their Bank Verification Numbers.

Speaking on the Federal Government’s response to the COVID-19 pandemic under the leadership of President Muhammadu Buhari, the minister said, “Our response to the COVID-19 pandemic has been proactive, people-oriented and aimed at averting drastic economic decline and protecting our most vulnerable citizens.”

The minister added that the government was currently implementing a multi-sector economic sustainability plan.

According to her, a key priority for government is to deploy funds transparently, and in a targeted and efficent manner that maximises the impact, in keeping with the government’s commitment under the OGP national action plan.

She said, “This is especially important given our limited fiscal space and low domestic revenues.

“To this end, in addition to existing OGP measures around budgeting, citizens’ engagement, open contracting, anti-corruption and others, we have introduced measures to sustainability enhanced fiscal prudence and transparency.”

She explained further that Government had also established a technology-enabled result-based performance management framework to track expenditures under the ESP, including the fiscal stimulus package and other government interventions.

Auto

Jetour unveils another SUV, X70 Plus, with elegant features

Published

on

Jetour unveils another SUV, X70 Plus, with elegant features

Jetour has flaunted to the Nigerian SUV lovers features of its new model, X70 Plus, also called Elegance in this market.
The auto Jetour Mobility Service says in a statement that the model is coming with stylish design and outstanding power.
“Looking for a compact Sports Utility Vehicle (SUV) that is pragmatic, stylish, and comfortable, delivering power on demand? Then the Jetour X70 Plus, newly introduced in Nigeria by Jetour Mobility Services, is what you desire. The Jetour X70 Plus has both 1.5T 6DCT and 1.6T 7DCT just like the Dashing,” it states.
It is equipped with a 20-inch aluminum wheel hub featuring light weight, higher firmness, faster heat dissipation and better aesthetics, which enhances better fuel consumption, stability and safety.

Still on the exterior features, the vertically aligned transparent LED light, as well as the shark fin antenna improves safety and reduces wind resistance respectively.

According to Jetour, “its impressive grill, large wheels and four LED daytime running lights perfectly complements its bold and muscular look. Featuring a wide, captivating, 62-inch ultra-wide angle panoramic roof that enhances your drive with natural lighting and ventilation.”

The Jetour X70 comes with a number of other features such as a touch screen panel that controls the air conditioning system; infotainment system compatible with latest generation smart phones; digital cockpit; front and rear parking radars; and a 10.25- inch full LCD Dual smart screen.

Its rear seat can be folded for increased cargo space, and the automatic luggage door makes access to the luggage compartment easier.

The vehicle also comes with intelligent air purification system, intuitive infotainment system, advanced wireless technology, 360-degree parking system and electrical 6-directional control driver seat.

Other features include cruise control, lane departure warning system, blind spot monitoring, keyless engine start, keyless entry start, multi-functional steering wheel, anti-lock brake system, front and back air bags and tyre pressure monitoring system.

Jetour X70 Plus advanced safety and stability features also include Hill Start Assist, Traction Control, electronic stability.

Paired with a 7-speed dual clutch automatic transmission, the vehicle’s 1.6 litre turbo engine produces maximum of 197 horsepower, facilitating better fuel consumption efficiency.

The suspension system has been engineered to withstand both On-road and Off-road terrain, be it city drive or highway drive.

The Jetour X70 Plus, known for its charming and radiant appearance and friendly ambience, comes in a variety of colours such as red, gray, blue among others.

With an apt slogan of Drive Your Future, Jetour is a product of a well-established family, the Chery Holding Group, with more than 120 billion Yuan in total asset.

Based on 23 years of production experiences, Chery Holding Group has sold over 8.5 million cars, exports exceed 1.6 million cars, and it has ranked number one in China’s passenger vehicle export 18 years in a row.
Deriving its name from two words: Jet + tour, the Nigerian representative says that the name connotes: “convenient tour”, meaning that clients who work hard in many industries can finally enjoy the benefit of their wonderful and happy lifestyle, because every moment on the road is worth cherishing and remembering.

Continue Reading

Business

Naira freefall: EFCC raids BDC operators in Abuja, arrests 50

Published

on

Naira freefall: EFCC raids BDC operators in Abuja, arrests 50

The officers of the Economic and Financial Crime Commission, EFCC, raided and arrested over 50 illegal Bureau De Change operators in Wuse Zone 4 Abuja, over the continued free fall of the Naira in the Foreign Exchange Market, News Direct reports.

Dayyabu Mistila, a Bureau De Change operator in Wuse Zone 4, disclosed this to News Direct on Monday.

According to Mistila, the operatives said the raid was because of the rising exchange rate of the US dollar and other currencies against the Naira at the forex market.

READ ALSO:

“Around 3 pm on Monday, officers of EFCC raided Wuse Zone 4 and arrested over 50 of our members. They were complaining that BDC operators are responsible for the rising exchange rate of the Dollar, the parallel exchange market”.

When asked the rate of Dollar to Naira on Monday, he told our Correspondent that it traded for N1,660 per Dollar.

Similarly, official FMDQ data showed that Naira dropped to N1574.62 per US dollar on Monday.

Efforts to speak with the spokesperson, Dele Olyewale, were unsuccessful at the time of filing this report.

News Direct recalls that the Minister of Finance, Wale Edun, Governor of Central Bank of Nigeria, Olayemi Cardoso and the Chairman of EFCC, Ola Olukoyede, met on February 3 2024, in an effort to curb the continued fall of the Naira in FX market.

Naira freefall: EFCC raids BDC operators in Abuja, arrests 50

Continue Reading

Business

BREAKING: Cement price set to crash to N7000

Published

on

BREAKING: Cement price set to crash to N7000

Cement manufacturers have agreed to lower the product’s price to between N7,000 and N8,000 per 50kg, depending on region nationally.

On Monday, February 19, the Minister of Works, David Umahi, convened a meeting in Abuja attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, to identify the underlying causes of the sudden increase in commodity prices.

READ ALSO:

The manufacturers present also emphasized their willingness to bring down the pricing in the future as long as the federal government intervention is satisfied.

BUA Industries also disclosed plans to bring 6 million tons of cement into the market to mitigate the surging prices.

The federal government has also declared its intention to encourage the introduction of six new manufacturers.

BREAKING: Cement price set to crash to N7000

Continue Reading

Trending

Skip to content