Economy
CCT: FG Pays Backlog of 74,657 Beneficiaries in Sokoto
The Federal Government has paid the backlog of Conditional Cash Transfer (CCT) to 74,657 benefiting households under the Household Uplifting Programme (HUP) in Sokoto State.
Head of Sokoto State Cash Transfer Unit, Alhaji Abubakar Balarabe-Binanchi, disclosed this in an interview with the newsmen on Thursday in Sokoto.
Balarabe-Binanchi said the HUP was introduced by the government in 2016 to fortify the social safety net and to uplift the living standards of the poor and vulnerable persons.
He stated that the payment of the N5,000 stipends to each of the beneficiaries covered from Oct. 2020 to June 2021.
The official noted that the gesture had improved household consumption and enhanced the economy of the affected communities, among other benefits.
Balarabe-Binanchi stated that initially, a total of 3,165 people from Tureta, Tambuwal, Binji, Raba and Isa Local Government Areas benefited from the scheme.
The official stated, however, that the programme had been enlarged to cover all the 23 local government areas of the state.
Earlier, the Training and Communication Officer of the Cash Transfer Unit, Sokoto State, Malam Zayyanu Marafa-Shuni, attributed the delay in payments to the strengthening of the system.
According to him, the scheme migrated from the physical cash payment to digital payment system.
“A pilot of digital payment has commenced in Sokoto-South, Sokoto-North, Isa and Tambuwal Local Government Areas, and they all embraced digitalised payment.
“The first and second phases of payment tranches have been completed and now, the third phase will commence soon,” Marafa-Shuni said.
The official commended Gov. Aminu Tambuwal for providing befitting office accommodation to the scheme, as well as other logistic supports that ensured the success of the programme.
He commended the Minister of Humanitarian Affairs, Hajia Sadiyya Faruk and the National Programme Coordinator, Hajia Halima Shehu, for their commitment towards achieving the desired successes. (NAN)
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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