News
Oronsaye: Rejig Of Agencies Won’t Lead To Job Cuts — FG Insists
Following job loss anxiety over the implementation of Steve Oronsaye’s report, Minister of Information and National Orientation Mohammed Idris yesterday said the Federal Government would not retrench workers.
He said the merger of some parastatals was meant to ensure efficiency in the civil service and save cost.
Idris, who spoke at the Ministerial Press Briefing Series in Abuja, said some of the merged or scrapped agencies had been redundant or had outlived their usefulness.
He said: “The consideration of Steve Oronsaye’s report is to improve efficiency in the Civil service. This does not mean that the government intends to retrench workers.
“The whole idea is that the government wants to reduce cost and also improve efficiency in service delivery.
“It does not necessarily mean that the government is out to retrench or throw people to the labour market. That is not the original intention.”
He highlighted the rationale behind the merger of some of the departments and agencies.
He said: “Only two days ago, the President approved a revolutionary approach towards reducing the cost of governance through the implementation of the much-talked-about Oronsaye Report – 12 years after the report was submitted to the then President, Dr. Goodluck Jonathan.
“This is a clear demonstration of Mr. President’s unwavering commitment to fiscal prudence and responsible governance by championing a comprehensive review of the government‘s commissions, agencies, and parastatals.
“In recognition of the need to rationalise the size and scope of government, the President has taken decisive action to merge certain agencies and scrap others that are redundant or have outlived their usefulness.”
Idris insisted that the government did its homework before coming up with its decisions on Oronsaye’s report.
He added: “The merger of some agencies and parastatals and the scrapping of others are not decisions taken lightly.
“It followed careful consideration and strategic planning to ensure that essential services are not compromised and that the needs of our citizens are adequately addressed while putting the interests of the nation first and foremost.
“Through the implementation of the report, President Tinubu aims to achieve significant cost savings by eliminating duplication of functions, streamlining administrative processes, and optimising resource allocation.
“This proactive approach will enable the government to operate more efficiently while maintaining the quality and delivery of services to the Nigerian people.
“It is worth noting that these measures are not undertaken in isolation but they are part of a broader strategy to reform and modernise government institutions by leveraging technology, promoting innovation, and fostering a culture of performance and accountability across all sectors.”
Idris said Nigeria has begun to reap the benefits of the reforms being spearheaded by President Tinubu, citing some fundamental economic growth being recorded since May 2030,
According to him, the country recorded GDP growth of 3.46 per cent in the fourth quarter of 2023 as against 2.54 per cent recorded in the third quarter of 2023.
“Capital importation rose to 66 per cent in the fourth quarter of 2023, reversing a 36 per cent decline in the third quarter.
“Petrol importation has been reduced by 50 per cent since the withdrawal of the fuel subsidy.
“The Nigerian Stock Exchange All Share Index crossed the 100,000 mark – its highest ever, mainly due to the pragmatic reforms initiated by the President, which inspired investor confidence in the Nigerian economy,” he said.
The minister said the revitalised oil sector has started posting positive results.
He said: “It is also encouraging to state that oil production has risen from 1.22 million barrels per day in the second quarter of 2023 to 1.55 million barrels per day in the fourth quarter of 2023.
“The government’s concerns over the nation’s unemployment rate have led to the deployment of some mechanisms aimed at addressing the issue holistically.
“The President has also given a directive for the design of a Social Security Unemployment Programme to cater for the unemployed graduates.
“This is in addition to setting up of a Social Consumer Credit Scheme to boost the purchasing power of Nigerians, as they make adjustments in view of the temporary economic hardship.
“As the government rejigs the National Social Investment Programme, the direct payments to N25,000 to 15 million households will resume immediately.”
The minister emphasised the enormous burden of insecurity, which has led to certain proactive steps being taken.
“The government is equally tackling insecurity headlong and more success stories are coming in daily. Without any doubt, we are winning the war against insecurity.”
“These are indeed a testament to the bold initiatives taken by Mr. President to reflate the Nigerian economy and return it to the path of growth and sustainable development,” Idris added.
Following job loss anxiety over the implementation of Steve Oronsaye’s report, Minister of Information and National Orientation Mohammed Idris yesterday said the Federal Government would not retrench workers.
He said the merger of some parastatals was meant to ensure efficiency in the civil service and save cost.
Idris, who spoke at the Ministerial Press Briefing Series in Abuja, said some of the merged or scrapped agencies had been redundant or had outlived their usefulness.
He said: “The consideration of Steve Oronsaye’s report is to improve efficiency in the Civil service. This does not mean that the government intends to retrench workers.
“The whole idea is that the government wants to reduce cost and also improve efficiency in service delivery.
“It does not necessarily mean that the government is out to retrench or throw people to the labour market. That is not the original intention.”
He highlighted the rationale behind the merger of some of the departments and agencies.
He said: “Only two days ago, the President approved a revolutionary approach towards reducing the cost of governance through the implementation of the much-talked-about Oronsaye Report – 12 years after the report was submitted to the then President, Dr. Goodluck Jonathan.
“This is a clear demonstration of Mr. President’s unwavering commitment to fiscal prudence and responsible governance by championing a comprehensive review of the government‘s commissions, agencies, and parastatals.
“In recognition of the need to rationalise the size and scope of government, the President has taken decisive action to merge certain agencies and scrap others that are redundant or have outlived their usefulness.”
Idris insisted that the government did its homework before coming up with its decisions on Oronsaye’s report.
He added: “The merger of some agencies and parastatals and the scrapping of others are not decisions taken lightly.
“It followed careful consideration and strategic planning to ensure that essential services are not compromised and that the needs of our citizens are adequately addressed while putting the interests of the nation first and foremost.
“Through the implementation of the report, President Tinubu aims to achieve significant cost savings by eliminating duplication of functions, streamlining administrative processes, and optimising resource allocation.
“This proactive approach will enable the government to operate more efficiently while maintaining the quality and delivery of services to the Nigerian people.
“It is worth noting that these measures are not undertaken in isolation but they are part of a broader strategy to reform and modernise government institutions by leveraging technology, promoting innovation, and fostering a culture of performance and accountability across all sectors.”
Idris said Nigeria has begun to reap the benefits of the reforms being spearheaded by President Tinubu, citing some fundamental economic growth being recorded since May 2030,
According to him, the country recorded GDP growth of 3.46 per cent in the fourth quarter of 2023 as against 2.54 per cent recorded in the third quarter of 2023.
“Capital importation rose to 66 per cent in the fourth quarter of 2023, reversing a 36 per cent decline in the third quarter.
“Petrol importation has been reduced by 50 per cent since the withdrawal of the fuel subsidy.
“The Nigerian Stock Exchange All Share Index crossed the 100,000 mark – its highest ever, mainly due to the pragmatic reforms initiated by the President, which inspired investor confidence in the Nigerian economy,” he said.
The minister said the revitalised oil sector has started posting positive results.
He said: “It is also encouraging to state that oil production has risen from 1.22 million barrels per day in the second quarter of 2023 to 1.55 million barrels per day in the fourth quarter of 2023.
“The government’s concerns over the nation’s unemployment rate have led to the deployment of some mechanisms aimed at addressing the issue holistically.
“The President has also given a directive for the design of a Social Security Unemployment Programme to cater for the unemployed graduates.
“This is in addition to setting up of a Social Consumer Credit Scheme to boost the purchasing power of Nigerians, as they make adjustments in view of the temporary economic hardship.
“As the government rejigs the National Social Investment Programme, the direct payments to N25,000 to 15 million households will resume immediately.”
The minister emphasised the enormous burden of insecurity, which has led to certain proactive steps being taken.
“The government is equally tackling insecurity headlong and more success stories are coming in daily. Without any doubt, we are winning the war against insecurity.”
“These are indeed a testament to the bold initiatives taken by Mr. President to reflate the Nigerian economy and return it to the path of growth and sustainable development,” Idris added.
News
I Delivered $15m Agency Cash To Ex-NIMASA DG Akpobolokemi, EFCC Witness Tells Court
A prosecution witness, Captain Ezekiel Bala-Agaba, testified in a Lagos Federal High Court on Thursday, that he personally delivered $15 million in cash to former NIMASA DG, Patrick Akpobolokemi.
The witness, Bala-Agaba, a former Executive Director of Maritime Safety, Shipping Development and Marine Operations at NIMASA, made the disclosure while testifying before Justice Ayokunle Faji of the Federal High Court in Lagos.
Captain Agaba, who appeared as the 15th prosecution witness, told the court that funds meant for pipeline surveillance were withdrawn from NIMASA’s accounts, converted into dollars, and handed over to Dr Akpobolokemi.
According to him, the money was taken to a Bureau de Change, which converted it into $15 million before the cash was delivered to the NIMASA office on Burma Road, Apapa, Lagos.
He said he subsequently took the money to the office of the then Director-General.
“The money was sent to a Bureau de Change, which later brought the dollar equivalent to our office at Burma Road, Apapa, Lagos. I asked my Personal Assistant, Ekene Nwakuche, to carry the bag and follow me to the Director-General’s office,” he told the court.
The witness explained that he collected the bag from his aide before entering the office.
“When we got to the door of the Director-General’s office, I collected the bag from him and asked him to wait outside. I then personally delivered the sum of $15 million to the Director-General.”
The witness was initially a defendant in the case but later opted to testify for the prosecution.
While being led in evidence by prosecuting counsel, Suleiman Suleiman, he explained the chain of command within NIMASA and how financial approvals were processed in the agency.
According to him, the Director-General is the overall head of the agency and issues instructions to directors, who then implement policies in line with the NIMASA Act.
He told the court that he chaired the agency’s Intelligence Committee, which was responsible for certain security-related operations.
“As chairman of the committee, I oversaw its activities and reported directly to the Director-General, Dr. Patrick Akpobolokemi,” he said.
During the proceedings, the witness was also shown a document containing a letter from Access Bank to the Economic and Financial Crimes Commission (EFCC) detailing transactions in NIMASA’s accounts between 2013 and 2015.
When asked how much money he took to the former Director-General, Agaba replied: “$15 million.”
After listening to the testimony, Justice Faji adjourned the matter until April 22 and 23 for cross-examination of the witness.
The EFCC had in December 2015 arraigned Dr. Akpobolokemi and seven others before the court on a 30-count charge bordering on conspiracy, fraudulent conversion of funds and money laundering.
Those charged alongside the former NIMASA boss include, Warredi Enisuoh, Governor Juan, Ugo Frederick, Timi Alari, as well as Alkenzo Limited and Penniel Engineering Services Limited.
They pleaded not guilty to the offences.
The anti-graft agency alleged that the defendants conspired to divert funds running into over N1.15 billion under the guise of providing security intelligence in Nigeria’s maritime domain.
According to the EFCC, the NIMASA Intelligence Committee allegedly received N1,153,000,000 between December 2013 and July 2015.
Investigations further revealed that several companies contracted to execute the intelligence operations were either unregistered or lacked the capacity to perform the services, while some were allegedly linked to the defendants.
The prosecution also alleged that the defendants nominated or owned many of the companies used to execute the contracts.
One of the charges stated that the defendants conspired to commit offences punishable under the Money Laundering (Prohibition) Act, 2012.
News
CBN Bars Chronic Loan Defaulters from Accessing New Banking Services
The Central Bank of Nigeria (CBN) has issued a directive to all financial institutions to immediately restrict certain banking services for large-ticket borrowers with non-performing loans (NPLs).
This move is aimed at strengthening credit discipline and protecting the stability of the Nigerian financial system following a rise in the industry’s NPL ratio to approximately 7%, exceeding the regulatory 5% threshold.
This order is specifically targeted at large-ticket obligors.
The CBN issued the directive in a circular to banks on Monday.
The latest instruction comes almost a week after the CBN asked financial institutions to stress test.
It is uncertain if the two directives are connected or what may have triggered the loan-related instruction, but the apex bank said it furthers its mandate to protect Nigeria’s financial system.
“In furtherance of its mandate to promote a sound financial system, protect depositors, and enhance prudential compliance within the banking sector, the Central Bank of Nigeria (CBN) hereby directs all banks to restrict non-performing large ticket obligors, whose activities pose systemic risk to the financial system, from accessing specified banking services,” the circular reads in part.
“Any large-ticket obligor with a non-performing facility recorded in the CRMS and/or any licensed private credit bureau shall not be granted additional credit facilities. For the purpose of this restriction, credit facilities include loans and other forms of direct credit.
“In addition, such obligors shall not be granted banking facilities or contingent liabilities such as bankers’ confirmations, letters of credit, performance bonds, or advance payment guarantees.”
News
Makinde Only In PDP Because He’s Not Seeking Re-election – Otitoju
Babajide Kolade-Otitoju, the Director of News at TVC News, recently stated that Oyo State Governor Seyi Makinde would likely have defected from the People’s Democratic Party (PDP) if he was still serving his first term.
Otitoju stated this on Friday on TVC’s ‘Breakfast Show’.
He described the National Convention of the Peoples Democratic Party, PDP, in Ibadan last November as a mere waste of time.
“People must show good judgment at a critical phase. What was the point of having that convention? Two courts told you not to go ahead but you went ahead.
“I may not be a fan of former Senate President Bukola Saraki but if he says something that makes sense, I will be the first to admit it. He made sense when he said let’s go for caretaker. What’s the point of not listening to him?
“Later you will be shouting that the ruling party is behind your crisis, meanwhile you are the architect of your own misfortunes. You created this problem.
“If Makinde were in his first term, he would have fled like the dancing governor because his second term would have been in danger,” Otitoju said.
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