NEWS
FCTA Pulls out of Treasury Single Account – Wike

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, s on Friday said that President Bola Tinubu has approved the pulling out of FCT Administration from the Treasury Single Account (TSA).
Wike, who disclosed this while briefing journalists in Abuja, said that the development would take Abuja capital city to where it was supposed to be.
He lamented that FCT was littered with prokects, adding that the projects were being awarded without the requisite financial backing.
Wike said that part of the problem was the inclusion of FCTA into the TSA, however describing it as a tool that unifies all government accounts in the Central Bank of Nigeria (CBN) for effective management of finances and cash position.
This, according to him, is not necessary for FCT Administration because it is not a revenue collecting agency for the Federal Government.
“Take for example, so many projects were awarded in 2002, 2007, and 2010 and up to now they have not been completed.
“You can imagine a project that was awarded in 2010, this is 21 years. Imagine what they will cost now,” Woke said.
The minister added that the utilisation of Internally Generated Revenue (IGR) was another problem, decrying that the FCTA IGR was spending funds as they came.
This, he said, could not tangibly be of any benefit to the administration.
“So, I went to Tinubu and said, Mr president, if you want FCT to carry out development projects and infrastructure among others, then they must come out from TSA.
“What is the essence of TSA; blocking of leakages and the rest, FCTA is not a revenue collection agency for the federal government so what are you blocking?
“If I need money for projects, I cannot go to the CBN and say give us money, CBN will not give us money.
“I can go to a commercial bank but how do we pay? I say the best bet is that we must pull out,” Woke said.
The minister explained that, if FCTA was out of TSA, it could approach a commercial bank, collect loan, and tie it to its IGR.
He said, “Assuming I want to collect N400 billion from the bank, I can say our IGR is about N20 billion a month, can you take N10 billion every month and in a year, we have paid N120 billion.
“That is the only way we can survive it and Mr President graciously agreed with us and approved that we should pull out from the treasury single account.”
Wike assured the residents of FCT that with this development, myriad of projects would spring up from next year in FCT.
He thanked Tinubu for his foresight, adding, “with this development, insecurity in the FCT will soon be a thing of the past.”(NAN
NEWS
ACCI Reiterates Commitment to Partnering FG, Stakeholders to Support SMEs Partnership

The Abuja Chamber of Commerce and Industry (ACCI) has reaffirmed its commitment to partnering with government and other relevant stakeholders to refine policies that support Small and Medium Enterprises (SMEs).Mr Agabaidu Jideani, Director-General of the ACCI disclosed this in an interview in Abuja on Monday.
Jideani said that the collaboration would enhance the SMEs by providing financial support through loans or grants, adding that such efforts can help them overcome financial challenges. He said that the partnership would expand businesses, thereby helping in refining policies that could support economic growth.“Abuja remains a vibrant hub and the ACCI is committed to partnering with the government to refine policies, support SMEs and drive inclusive growth.“Supporting the SMEs will help them expand into new markets and offer them valuable expertise and guidance to improve their operations.“By partnering with government and other relevant stakeholders, business can help refine policies that support economic growth, innovation and development,”he said.Jideani said that the partnership would also ensure that policies were practical, effective and beneficial to all stakeholders.Jideani said that the ACCI had strengthened its advocacy initiative driven by the chambers’ National Policy and Advocacy Centre (NPAC) through strategic partnership with various local and international organisations.He listed the organisations to include European Union, (EU) United Nations Development Programmes (UNDP), Small and Medium Enterprise Development Agency (SMEDAN), and the Ministry of Industry, Trade and Investments.He said that the partnership had advanced data protection and creative industry growth, thereby, safeguarding sensitive information from unauthorised access, and expanding and developing industries that focus on creative expression, innovation, and intellectual property.The director-general said that the chamber”s focus on SME insurance and gender-inclusive policies underscores it’s commitment to ensuring strong development.He said that the “SME Insurance” was insurance products and services designed specifically SMEs.“These insurance policies help SMEs to manage various risks, such as insurance coverage for losses due to business disruptions and protection against claims for damages or injuries,” he said.While assessing President Bola Tinubu’s two years administration on government policies and their impact on businesses and economic growth, Jideani said that the administration pursued ambitious reforms with positive intentions.He said that the administration, anchored on the “Renewed Hope” agenda, had addressed structural inefficiencies, boost private sector growth, and positioned Nigeria as a competitive economy.According to him, the policies have, however, produced mixed results, with notable achievements tempered by significant implementation challenges.“The administration’s policies have been driven by a commitment to fiscal discipline, market liberalisation, and infrastructure development. The reforms have delivered measurable gains,” he said. (NAN)NEWS
NAF Airstrikes Destroy Terrorists’ Enclaves in Lake Chad, Eliminate Scores

The Nigerian Air Force (NAF) says the Air Component of Operation Hadin Kai (OPHK), has destroyed major terrorist enclave used as a training ground, in Bukar Meram, on the southern flank of the Lake Chad region, Borno.This is contained in a statement by the Director, Public Relations and Information, NAF, Air Commodore Ehimen Ejodame, on Monday in Abuja.
Ejodame said the operation was conducted on Monday, following credible intelligence on the plan by the terrorists to attack Marte and Monguno communities. According to him, the airstrikes resulted in the neutralisation of several terrorists as well as the destruction of key logistics infrastructure, including supply vehicles, weapons storage sites, and makeshift shelters.“Battle Damage Assessment confirmed that the strike effectively disrupted imminent threats posed to the communities of Marte and Monguno, reinforcing NAF’s proactive posture in safeguarding civilian populations and critical territories.“The NAF remains resolute in its mandate to protect the sovereignty of the nation and ensure lasting peace and security across the Northeast and beyond,” he said. (NAN)NEWS
PDP Stakeholders, Leaders Reaffirm Anyawu as Substantive National Secretary

The Peoples Democratic Party (PDP)’ Eminent Stakeholders and Concerned Leaders have reaffirmed Sen. Sam Anyawu as the duly elected and substantive National Secretary of the party.The stakeholders made the reaffirmation in a communique in Abuja on Monday, after a closed-door meeting to find a lasting solution to the lingering crisis affecting the party.
Report says that the stakeholders and the concerned leaders were drawn from the various states of the federation. Mr Nyesom Wike, Minister of the Federal Capital Territory, who read the communique said that Anyawu’s reaffirmation followed the resolutions of the stakeholders, in line with the Judgment of the Supreme Court.Wike explained that the meeting was organised to review the state of affairs of the party and the need to reinforce internal democracy, equity and justice within the ranks of the party.He said that the stakeholders resolved that the seemingly intractable crisis in the party was as a result of the inexplicable refusal of a few to adhere to the party’s constitution.He particularly referred to Section 36(1) (a) (b) and (c); Sections 47(3)(5) and 48(1)(i) and the definitive Supreme Court Judgment regarding the position of the office of the national secretary of the party.The minister expressed the stakeholders’ worry that the party was on an inevitable path to self- annihilation.This, he said, was only feasible, if urgent steps were not taken to rein in the desperate, divisive and selfish tendencies that brought the party to its knees in the lead up to the 2023 election.He added that the divisive tendencies, unfortunately, have found expression in the conduct of certain interests within the ranks of the party both at National Executive Committee (NEC), National Working Committee (NWC) and Board of Trustees levels.The minister added that, to finally arrest the inexorable drift towards extinction in the party, the PDP must, without further delay, respect the judgment of the Supreme Court.“We, therefore, unequivocally reaffirm Sen. Sam Anyanwu as the duly elected and substantive National Secretary of our great party.“In line with the provisions of our party constitution, only the National Secretary, Anyanwu, can issue notices of meeting of the National Convention, NEC, National Caucus and the NWC.“To this end, all notices not issued by him and actions founded on them, including correspondences to the Independent National Electoral Commission (INEC) are null and void and of no effect whatsoever.“Furthermore, it is clear from the constitution that only the National Convention, properly and duly constituted can remove Anyanwu as the national secretary, arising from his status as a member of the NEC of the party.“We, therefore, demand that the acting National Chairman and the National Secretary jointly issue a notice to INEC with an attached agenda for the NEC meeting of the party, being the only pathway to abide by extant laws.Wike reiterated the stakeholders’ commitment to the great party and urged all members to uphold the rule of law and respect constitutional mandate.He also called on members of the party to resist all manoeuvres aimed at destabilising the party and support the efforts of the National Reconciliation Committee headed by Sen. Bukola Saraki.The minister further said the stakeholders had resolved that the party must make an unequivocal pronouncement, zoning its presidential candidate to the South in the 2027 elections.“This is in the spirit of fairness, inclusion, federal character principles and respect for our party constitution, after the unbroken years of former President Muhammadu Buhari, who is from the north,” Wike said. Report says that some of the stakeholders at the meeting included former Gov. Ifeanyi Uguanyi of Enugu, former Gov. Samuel Ortom of Benue and former Gov. Okezie Ikpeazu of Abia.Also at the meeting were the National Secretary of the PDP, Sen. Samuel Anyanwu and former Senate Minority Leader, Sen. Philip Aduda.Former federal and state lawmakers and some zonal and state party executives among others equally attended the meeting. (NAN)