FG Pays N1.6bn To YouWin Awardees

The Federal Government has paid N1.6 billion to 638 awardees of the Youth Enterprise with Innovation in Nigeria (YouWin) programme, a statement from the Ministry of Finance has said.

The statement by Mr Na’inna Dambatta, the Director of Information in the ministry, which was issued on Tuesday in Abuja, said the amount was paid in June.

It recalled that under the programme which took off in 2011, a total of 18, 000 young entrepreneurs were trained in management and business skills for Small and Medium Enterprises (SMEs).

It said that 3, 900 of the trainees, including 1, 200 women, were each given non-repayable take-off grants ranging from N1 million to a maximum of N10 million for businesses of their choice.

“The third edition of the programme, which is still running with 1,500 beneficiaries has received the sum of N11.2 billion in funding.
“So far, grants totaling N7.4 billion have been disbursed to the awardees, ’’ the statement said.

It also quoted the Minister of Finance, Mrs Kemi Adeosun as saying that the present administration was set to restructure the programme in line with its “change” agenda.

Adeosun said that the restructuring would ensure efficiency, transparency and accountability in investing the capital grants given to the beneficiaries.
She assured that all the commitments made by the Federal Government under the YouWIN programme would be fully met.

She said that every beneficiary would be duly verified, using tools like Bank Verification Number (BVN), before disbursements.
The minister added that the Federal Government would begin consultations with the beneficiaries and other stakeholders of the programme to inject new ideas for its sustainability.

According to the statement, the ministry of finance, which has been running the programme from inception, will hold the consultation on July 22 in Abuja.

“Representatives of the beneficiaries drawn from the six-geo-political zones and other stakeholders will chart a way forward for the programme,’’ she added.

Credit: NAN

Pacquiao Pays Tribute To Ali ‘The Greatest’

Manny Pacquiao, one of the greatest boxers of his generation, led Philippine tributes to Muhammad Ali on Saturday, as he joined his fellow countrymen in mourning the American legend’s death.

“We lost a giant today,” Pacquiao, the only man in boxing history to win world titles in eight different weight divisions, said in a statement.

“Boxing benefited from Muhammad Ali’s talents but not nearly as much as mankind benefited from his humanity. Our hearts and prayers go out to the Ali family,” Pacquiao added.

The boxing-crazy Asian nation was the scene of one of Ali’s greatest triumphs, the epic “Thrilla in Manila” on October 1, 1975, when he scored a 14th round technical knockout of Joe Frazier in their third and last fight.

A Manila shopping mall, built near the coliseum that hosted the bout, unfurled a large poster of Ali on Saturday in tribute. Hours before the family announced Ali’s death, Pacquiao, who won a seat in the country’s Senate in last month’s elections, posted Ali’s picture in his Instagram account and urged fans to “keep Muhammad Ali in your thoughts and prayers”.

Credit: vanguardngr

FG Pays N48.2bn Subsidy Arrears To Marketers

The federal government last week paid N48.2 billion outstanding subsidy arrears to oil marketers as claims for 2015 to enable them import petroleum products and meet up with their other financial needs, the Ministry of Finance revealed on Tuesday.

A statement issued by the Director (Information) in the ministry, Salisu Na’inna Dambatta quoted the Minister of Finance, Mrs. Kemi Adeosun to have said that the federal government authorized the Debt Management Office (DMO) to pay the claims less tax liability of N5.171 billion, which was computed by the Federal Inland Revenue Service (FIRS).

“The gross total outstanding subsidy claims accruable to the oil Marketers for 2015 stood at N48, 207, 176, 262.44, while deductable tax liabilities payable to the Federal Inland Revenue Service stood at N5, 171, 186, 373.05 only.

“Giving details of the payments, Mrs. Adeosun stated that Oil Marketers without Tax Liabilities were paid in full, while Oil Marketers with net subsidy claims and FIRS liabilities were paid net claim after deduction of tax liabilities.”

Credit: Thisday

PDP Battles Ghost Workers, Pays Staff In Cash

The national leadership of the Peoples Democratic Party has detected ghost workers on its payroll after ordering the workers to line up and collect their salaries in cash.

Investigations by our correspondent showed that the precarious financial situation of the party forced its leadership to take the action.

It was gathered that the National Chairman of the party, Ali Modu Sheriff, was worried about the huge salary bill of the workers and decided to take action aiming at ascertaining the actual number of workers at the party’s national secretariat in Abuja.

Sheriff was said to have inherited about N872m debt when he assumed office about a month ago.

Worried by this, Sheriff was said to have taken members of the National Workers Committee by surprise when on Thursday he directed the workers to get their salaries in cash.

A management employee, who spoke with our correspondent on Sunday, said that they were surprised when they (the workers) were directed to assemble inside the National Executive Committee hall at the national secretariat.

He said, “Sheriff has started the restructuring of the PDP for efficient and effective performance.

“March 24 will ever be a day to remember in our party. On that day, as early as 11am, the NWC and members of  staff of the PDP, under the instruction of our national chairman, moved into the conference hall.

“The chairman also joined everyone in the hall. And to the surprise of all, the business of the day was the payment of staff salaries, which was done department after department.

“One after the other, after individual’s physical verification of each file and identity, thereafter you are then paid your salary in cash.”

The exercise was chaired by the national chairman who directed the National Treasurer, Mr. Buhari Bala, to call the workers by their departments.

Another management worker said, “Names of all the workers were called according to their departments and once you heard your name, you would come out to collect your salary by hand.

“This order was followed by the national treasurer and some employees of the Finance Department, who assisted him.

“All heads of departments were on the ground to observe the exercise.

“So, when a name was called, the person came out and his/her file was opened for verification before cash was paid to such a worker.

“And at about 6:30pm, the chairman left the hall to attend to other meetings, while the national treasurer continued to call the names of employees.

“In the absence of the national chairman, he called four departments, amongst them were the Youth Department and Security Department.”

Before calling the security staff on the list submitted, Bala was said to have complained that the list was too lengthy.

It was gathered that Bala realised during the payment that the security department had what he described as ghost workers and security personnel, as the names of policemen called were those who had left the service of the PDP immediately after the resignation of the then National Chairman, Alhaji Bamanga Tukur, about two years ago.

Some of the workers at the national secretariat had called on Sheriff to set up a panel to investigate those behind the scam.

One of them said, “The outcome of what happened on Thursday was an indication that salaries of those ghost workers were being collected by someone over the years.

Ghost workers were also discovered in the other departments.”

It was gathered that seven policemen, who had left the party more than two years ago, were still being paid.

Credit: Punch

NIMASA Pays Tompolo N1.5bn Monthly- Ex-Chairman

The pioneer chairman of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Ahmed Tijani Ramalan, has disclosed that the agency pays the sum of N1.5bn monthly to the ex-militant leader of the Movement for the Emancipation of Niger Delta (MEND), Mr. Government Ekpemupolo, alias Tompolo, to protect the nation’s maritime areas.

Dr Ramalan, however, lamented that despite such gesture, the country still loses over 400,000 barrels of crude oil daily from the nation’s shores.

The former NIMASA chairman, who revealed this to LEADERSHIP in an interview in Kaduna, called on President Muhammadu Buhari to cancel the contract given to the ex-militant by the administration of former President Goodluck Jonathan.

He said, “Over 400, 000 barrels of crude oil are being stolen daily from our shores under President Jonathan; yet we had a government that has the Navy, the Army and the Air Force, and the government of Jonathan decides to hand over the security of our maritime waters to Tompolo at a very exorbitant amount of money.

“And these same people that are given the job of our maritime security are the ones that are collaborating with the international shipping companies to steal our oil.”

According to him, one of the ways to help the country’s economy to bounce back is to revoke Tompolo’s contract.

“And if Buhari does not do so, we will be the first to start attacking him. There is no basis to give that kind of billion naira job to ex-militants,” he declared.

Making further clarification on how long the payment has been going on, Ramalan said it started “sometime after 2011 when Jonathan won his election and since then the payment has been on.

“I was the pioneer chairman of NIMASA, and NIMASA is the one funding the contract given to Tompolo. This is a guy that is collecting about N1.5bn every month and yet our Armed Forces are not well funded. So, we call on the president to discard such contract.”

He further stated that Buhari’s strong character and honesty would help him to lead country well.

“We supported President Buhari’s presidency because we believe that the country needs a strong leadership. The insecurity and economic problem that we are having in the country today is because of lack of a strong and quality leadership,” he said.

“We believe the country needs a leader that is not corrupt, because the issue of corruption in the country has led the country to its knees.

“The country would have gone down if the administration of Jonathan was allowed to continue. For us, we believe that having a new leader is what the country needs because of the massive corruption. We believe in President Buhari; we believe there is hope in having him as the president.”

He also expressed confidence in Buhari’s ability to solve the problem of insecurity in the country.

Creditleadership

Finance Minister Pays Importers As City Petrol Queues Grow

Finance ministry has paid importers 156 billion naira ($790 million) to cover subsidy payments owed from 2014, it said on Thursday, seeking to ease fuel shortages in major cities.

Queues at petrol stations have been growing over the last few weeks and worsened in recent days. A neglected refining system means the country is almost wholly reliant on imports for the 40 million litres per day of gasoline it consumes.

The fuel crisis began in early March when slumping oil prices and an impending general election sent the local currency to record lows, hitting importers who have struggled to open letters of credit with banks. Truckers, unable to discharge tankers, went gone on strike over the cash crunch.

The finance ministry issued Sovereign Debt Notes (SDN) to fuel marketers in March, but banks remained reluctant to issue letters of credit until they matured.

“Even though we had the SDNs, they (banks) never had enough confidence. Now that it has been honoured, they can open L/Cs (letters of credit),” Obafemi Olawore, the executive secretary of the Major Oil Marketers Association of Nigeria (MOMAN) said.

“We didn’t have the money to place orders and pay contractors, like the truckers … who went on strike.”

The post-dated SDNs of 100 billion naira matured on Thursday, an emailed statement from the finance ministry said, along with an additional 56 billion naira in interest to marketers, which is expected to allow importers to complete their deals.

Oil traders said plenty of product was waiting offshore to discharge but payment uncertainties have held it back.

Despite the payment, another 200 billion naira is still outstanding, which includes foreign exchange from 2014 and 2015 and about 40 billion in subsidies accumulated so far in 2015, Olawore said.

Gasoline is heavily subsidised by the government via the Petroleum Products Pricing Regulatory Agency (PPPRA), and outgoing President Goodluck Jonathan’s own efforts to scrap subsidies in early 2012 caused riots. Slow repayment of subsidies has been a problem for the last few years. ($1 = 198.0000 naira)

Reuters