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FG to Establish Gold Processing Cluster in Kogi

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The Federal Government is set to establish Gold Processing Cluster in Kogi State as part of its programmes in job creation and solid mineral development in the country.

The Permanent Secretary, Federal Ministry of Mines and Steel Development, Dr. Oluwatoyin Akinlade disclosed this during her courtesy visit on Governor Yahaya Bello at the Lugard House in Lokoja on Monday.

Dr Akinlade stated that Kogi was selected for the North Central Zone owing to the abundant mineral resources in the state.

She disclosed that the state was blessed with all kinds of mineral resources which the government and the people need to take advantage of it to create wealth and employment for the people.

“Establishment of Gold Processing plant as well as other facilities that will help local miners in the state will help in boosting the state and nation’s economies, job and wealth creation. The project is to be sited in Mopa Muro Local Government Area of the state,” she said.

Responding, the state governor, Yahaya Bello, commended the Federal Government for showing interest in solid mineral development in the country particularly in Kogi, noting that the state is home to all kinds of solid minerals and called for more investments in the development of the nation’s steel sector.

Bello noted that the setting up of Gold Processing Cluster in Kogi will again drive more investors into the state which he said will surpass investment inflow into the state in the last quarter of the year 2020 when Kogi recorded highest investment inflow in the country.

The governor assured the Federal Ministry of Mines and Steel Development of his administration’s readiness to partner with the ministry in harnessing solid minerals in the state.

He said his deputy, Edward Onoja who oversees the State’s Ministry of Solid Mineral will provide the needed input.

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Tinubu’s Refusal to Celebrate 72nd Birthday Mark of Good, Great Leadership – Aide

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Mr Tunde Rahman, a Senior Presidential Aide to President Bola Tinubu, says the President’s refusal to celebrate his 72nd  birthday due to challenging times in the country is a mark of good leadership.

Rahman made the remark in a statement signed by him on Friday, in Lagos.

The President directed that  there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour.

The President  urged anyone wishing to do such for him to donate the money to charity organisations.

According to Rahman, the decision was taken in deference to the present challenging times which  is a mark of good leadership for a leader  to have compassion for the people, identify with them and demonstrate he shares in their pains.

The presidential aide  described the President as an individual who is compassionate and emphatic toward the pain of others.

He recounted how Tinubu had on several occasions,  shelved his birthday celebrations just to identify with the weak and vulnerable in the society.

“In March 2020, on the cusp of his 68th birthday, the President cancelled his birthday colloquium over the outbreak of coronavirus,

“The President said the decision was important amid the overriding public concern over the pandemic.

“Also, on his 70th birthday in March 2022, Tinubu called off an ongoing birthday colloquium to honour victims of Abuja-Kaduna train attack.

“Likewise, in 2023, even after he had convincingly won the election, President Tinubu did not celebrate his birthday, saying he will devote the moment for reflection on the huge task ahead.

“This is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain,” he said.

Rolling out the achievements of the Tinubu led administration, Rahman said the President had instituted bold reforms,  notably the removal of fuel subsidy and the unification of the multiple foreign exchange rates

He assured that there is light at the end of the tunnel.

“Light is not only assured at the end of the tunnel, it is presently beginning to shine brighter and brighter through the tunnel.

“For instance, naira has continued its streak of rebound and steady appreciation.

“More remarkable is the courage, political will and personal commitment to effecting a change and improving the quality of life of the people in line with the Renewed Hope Agenda the President has brought to the fire.

“This shone brilliantly in his handling of hydra-headed problems.

“To speedily effect changes in the country’s security architecture and enhance safety of lives and property, the President, working in collaboration with state governments, has set up a high powered committee to draw up modalities for the introduction of state police.

“There is also the Pulaaku initiative, a non-kinetic effort aimed at addressing the root causes of farmer-herder conflicts and fostering national unity, ” he said.

Rahman also lauded the President’s order on releasing of N50 billion as operational fund for its immediate take off.

“The initiative, expected to revitalise the communities through the construction of residences, roads, schools, and essential facilities, will initially focus on seven states namely, Sokoto, Kebbi, Benue, Katsina, Zamfara, Niger, and Kaduna states.

“An executive order to further boost investment, create jobs and business opportunities in the oil and gas sector is in place while the Federal Government in collaboration with states,  again are engaging in mechanised agriculture among other initiatives,” he said.

Rahman stated that the Tinubu government is thinking and working frantically to ensure initiatives put in place were executed effectively and that his governance remained impactful and enduring.

The presidential aide, therefore, urged citizens to continue to play their part to  make Nigeria a prosperous nation. (NAN)

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New Banks’ Minimum Capital Requirement will Enable Long-term Loans, Says ex-ANAN President

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A financial expert, Dr Samuel Nzekwe, says the Central Bank of Nigeria’s (CBN) new minimum capital requirement for Nigerian banks will enable them to finance more long-term loans.

Nzekwe, a former President of the Association of National Accountants of Nigeria (ANAN), made this assertion in an interview with newsmen on Friday in Ota, Ogun.

NAN recalls that the Acting Director of the Corporate Communications Department of the bank, Mrs Hakama Sidi-Ali, on Thursday, in a statement, announced that the new minimum capital for merchant banks would be N50 billion.

Sidi-Ali also said that the new requirements for non-interest banks with national and regional authorisations are N20 billion and N10 billion, respectively.

For international authorisation, it was raised from N100 billion to N500 billion.

All banks are required to meet the new capital requirements within 24 months, beginning from April 1 to March 31, 2026.

Nzekwe commended the CBN’s decision to increase the minimum capital base of Nigerian banks, saying that move would enable them to fulfil their role as financial intermediaries effectively.

“It is a positive step as it will enable banks to finance large-scale investments in the country.

“For the economy to grow, we need strong banks capable of providing long-term loans, which sometimes require 10 to 15 years for repayment or even offering a five-year moratorium,” he said.

The former ANAN president highlighted the current difficulty faced by banks in financing long-term loans or major projects.

Nzekwe expressed optimism that this development would prompt the apex bank to inject more funds into the financial system.

This, he explained, would encourage more borrowing from banks and therefore stimulate the growth of industries.

He commended the CBN Governor, Yemi Cardoso, for raising the minimum capital requirement for banks to a new level.

The financial expert noted that the apex bank had structured it in a way that banks would not need to bring retained earnings to the capital base but generate new additional funds. (NAN)

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Board Sanctions 118 Immigration, Civil Defence Officers

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The Board of NSCDC, Fire Service, Correctional, and Immigration Service, has approved the sanction of 118 personnel for various offences.

The Board Chairman, Dr Olubunmi Tunji-Ojo, made this known at the end of their meeting on Thursday in Abuja.

Tunji-Ojo, who is also the Minister of Interior, told newsmen through the board Secretary, Alhaji Ahmed Ja’afaru, that the erring officers were punished after facing disciplinary panels  for various offences.

“These offences range from misconduct, negligence of duty and outright absence from duty posts.

“In the Nigerian Correctional Service (NCOs), there were 48 cases of offences, in the Nigerian Immigration Service (NIS), there were 21 cases.

“Also, in the Federal Fire Service (FFS) there were 12 cases while in the Nigerian Security and Civil Defence Corps (NSCDC), there were 37 cases,“the minister said.

Tunji-Ojo added that the board has reviewed and approved new guidelines for appointments, promotions, discipline and general purpose in the services.

He said that the board also considered and approved the timeline for the conduct of the 2024 promotion exercise in the four services.

“The board considered and approved the review timeline for the conduct of the 2023/2024 fire service recruitment.

“As for the ongoing recruitment in the fire service, we hope to publish the names of the successful applicants latest by June 15. That is where we are for now.

“We also want to use this medium to warn the general public to ignore whatever they have been seeing or hearing in the social media space as they did not emanate from the board.

“This is because, we have come to realise that the social media world had been awashed with fake news telling applicants to come for screening exercise or pay certain amount of money.

“Let me put it emphatically that the board is not asking anyone to pay money for recruitment.“

He urged applicants to be patient, saying successful candidates will be notified to come for further screening through their emails and mobile lines. (NAN)

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