Flowerbud News

Blog

  • Table tennis star, Quadri donates to less privilege

    Table tennis star, Quadri donates to less privilege

    Aruna Quadri, winner of the recently-concluded 2018 ITTF Challenge (Seamaster Nigeria Open Championship), has donated food items and mini table to the SOS Children’s Village at Isolo in Lagos.

    ITTF-Africa Media said in a statement in Lagos on Wednesday that Quadri was accompanied to the village by his wife, Ganiat Aruna.

    Quadri was quoted as saying that the gesture was to identify with the less privileged in the society.

    “Having gone through a lot to become what I am today, supporting and giving to the less privilege in the society is a thing of joy for me.

    “This is another way to show love to those who are not privilege and I believe this small gesture will augment what others have been doing for them.

    “I am doing this to also give back to the society where I emerged from and this will not be a one-off thing,” he said.

    Quadri, who is also the world number 18 table tennis player, called on other Nigerian successful athletes to give back to the society.

    Gboyega Fadowole-Aje, the National Fund Development and Communication Coordinator of the home, commended Quadri for the gesture.

    “We want to first of all congratulate you on your victory at the just concluded Nigeria Open and wish you well in your endeavours.

    “We were indeed touched by your gesture and we believe your presence in the village has surely inspired the children to aim high like you in their dream career.

    “ On behalf of the country director, we are grateful and we wish you well,” he said.

    Apart from the donation, the player also played table tennis with some of the children at the centre.(NAN)

  • 2019: Bafarawa picks PDP presidential nomination form

    Alhaji Attahiru Bafarawa, former Sokoto governor on Wednesday, obtained the nomination form from the headquarters of the People’s Democratic Party (PDP) to run for President.

    Bafarawa is the first to pick the nomination form among many other PDP gladiators who are interested in the position.

    Speaking after picking the form, Bafarawa expressed confidence that he was the right person to hold the office of President given his antecedents and experience.

    “I am aspiring for the leadership of this country not for the sake of personal interest, I have done it before when I was a governor in Sokoto State for eight years.

    “As a democrat who has been in politics for the last forty years, I have been a party council chairman, a local government council deputy chairman, rose to the state chairman of NRC of Sokoto, Zamfara and Kebbi and a member of  constitutional conference:

    “I served eight years as a governor, acting national chairman of ANPP for almost 12 and half years, I conducted convention where we produced current President Muhammadu Buhari under my leadership of ANPP, I think I have what it takes to vie for this position,” he said.

    He added that he has been a successful businessman and as such understands what it means to be a leader and a manager.

    He assured the PDP that he would always respect the Party’s constitution because he relises that even if he wins the election, he is still only an agent of the party.

    He went on to buttress his earlier position that once the party primary is conducted in a fair manner, he would accept whatever result that comes from it.

    “Am assuring you if there is going to be transparency true leadership of good convention, I believe every one of us will accept whatever outcome of the convention.

    “We are all one, forget about the numbers of all aspirants, we are brothers, we are partners in progress of the great party and also the nation.

    “Therefore am assuring you we the aspirants we are one and we are members of the PDP and we are going to work as one to get this government out of office.

    Reacting to questions from newmen on the number of aspirants in the PDP, Bafarawa said that he was not concerned but was encouraged.

    He said that the number of aspirants in the PDP demonstrates that the party was a democratic and free party where people were allowed to aspire, unlike other parties that did not give room for multiple aspirants.

    “Honestly speaking is giving us encouragement that is to show that our party is democratic party, it is popular party acceptable party by Nigerians that is why people are aspiring more to join the party.

    “Unlike other party that is not democratic party where they have only one man show so is very encouraging to all of us who are aspiring for this seat, we are brothers, we family, we are the same father the same mother, our ambition is to get rid of APC,” he said.

  • Hajj 2018: Nigerian pilgrim dies in elevator pit

    By Idris Abdulrahman

    A pilgrim from Niger was on Wednesday feared dead in Makkah, Saudi Arabia, after mistakenly falling into the pit of an elevator  under repair.

    The News Agency of Nigeria (NAN) gathered that the  deceased stepped on the system without knowing it was under repair and immediately sunk inside the pit.

    Rescue workers were immediately mobilized to the site by the National Medical Team of NAHCON.

    According to the Medical team Leader, Dr Ibrahim Kana, “following the tragedy that occurred this morning in house no three of Niger Sate, men of the National Medical Team were there for the rescue”.

    He said the CCTV footage of the incident was being reviewed to get full details.

    This brings to seven, the number of Nigerian pilgrims that have died since the arrival of the first batch on July. 21.(NAN)

  • Illegal repatriation: MTN to refund $8.13bn as CBN fines 4 banks N5.87bn

    By Racheal Ishaya

    The Central Bank of Nigeria (CBN) has imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged illegal remittance of foreign exchange to offshore investors of MTN Nigeria Communications Limited.

    This is even as the  CBN has directed MTN to refund 8.13 billion dollars which was illegally repatriated by the company with the aid of the four Nigerian banks.

    In a statement issued by the CBN on Wednesday, the nation’s apex bank accused the commercial banks of carrying out the transaction without regular ‘Certificates of Capital Importation (CCIs)’ which is a compulsory pre-requisite for such transactions.

    The CBN Acting Director, Corporate Communications, Department, Mr Isaac Okorafor who issued the statement described the action of the banks and MTN as ‘flagrant violation of extant laws and regulations of the Federal Republic of Nigeria,”.

    Giving a breakdown of the imposed fines, Okorafor said Standard Chartered Bank would pay a fine of N2.47 billion, Stanbic IBTC, N1.88 billion, Citibank Nigeria, N1.26 billion and Diamond bank, N250 million.

    Okorafor while explaining the banks’ offenses, disclosed that investigations by the CBN revealed that 3.45 billion dollars was repatriated by Standard Chartered Bank on the basis of illegally issued CCIs.

    Similarly, he said the sums of 2.63 billion dollars, 1.766 billion dollars and 348 million dollars were repatriated by Stanbic IBTC Nigeria, Citibank Nigeria and Diamond Bank Plc, respectively during the period 2007 and 2015.

    He said the CBN had directed the affected banks to pay the fines to the apex bank immediately.

    Okorafor said that “the CBN investigation further revealed that on account of illegal conversion of MTN shareholders’ loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by the company.

    He advised all banks and multinational companies in Nigeria to adhere strictly to the provisions of all extant laws and regulations of Nigeria in their foreign exchange transactions.

    He warned that failure by the management of banks and companies to abide by the existing guidelines, they would be appropriately sanctioned adding that the  sanctions may include denial of access to the Nigerian foreign exchange market.

    More Details:

    CBN’s letter to MTN says:

    Our investigation also revealed the following, among others:

    1. The shareholders of your company invested the sum of $402,590,261.03 in the company from 2001 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfers and equipment importation, which was evidenced by the CCIs issued by Standard Chartered Bank (SCB), Citi Bank (CB) and Diamond Bank (DB);

    iii.     The CCIs issued at the time of the investment by the above banks to your organization in respect of the $402,590,261.03 showed that $59,436,923.44 was invested as shareholders’ loan and $343,153,339.56 as equity;

    1. However, a review of your organization’s financial statements for the year ended December 31, 2007 revealed that $399,594,146.00 was recorded/invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by the banks in (iii) above;
    2. Following a request by your organization through Standard Chartered Bank for CBN’s approval to convert the shareholder’s loan to preference shares, an approval-in-principle was granted vide our letter dated November 13, 2007; with the grant of final approval made subject to the fulfillment of the following conditions by your organization.

     

    1. Implementation of the decision in item 5B of your board resolution dated November 08, 2007 and submission of documentary evidence to that effect to the Director, Trade and Exchange Department of the Central Bank of Nigeria; and
    2. Provision of an undertaking that no remittance for either interest or principal repayment would be made to the shareholders from the date of the loan to the date they were converted to preference shares.
    3. In spite of the non-fulfillment of the conditions in (v) above and consequently, the non-issuance of a final approval by the CBN, your organization converted the shareholders’ loan to preference shares with Standard Charted Bank issuing new CCIs in respect of the illegal conversion;

    vii.    The action of your banker in aiding your organisation in the illegal conversion of the shareholders’ loan was later described by SCB in a letter to the CBN dated December 10, 2009 as an “unintended omission”; and

    viii.   On account of the illegal conversion of your shareholders’ loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated on behalf of your company by the aforementioned banks between 2007 and 2015.

    CBN’s Letter to Standard Chartered bank says:

    Our investigation also revealed the following, among others:

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2001 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfers and equipment importation, which was evidenced by the CCIs issued by your bank, Citi Bank (CB) and Diamond Bank (DB) at the initial stage of the investment.
    • The CCIs issued at the time of investment by your bank along with the other banks in respect of the $402,590,261.03 showed that $59,436,923.44 was recorded/invested as shareholders’ loan and $343,153,339.56 as equity. This position was, however, contrary to the position in the financial statements of MTN Nigeria Communications Limited for the year ended December 31, 2007, which revealed that $399,594,146.00 was invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by your bank, Citi Bank (CB) and Diamond Bank (DB). Your action in this regard constituted a rendition of false returns to the Central Bank of Nigeria.

     

    1. Your bank subsequently applied to the CBN on behalf of MTN Nigeria Communications Limited for the conversion of the shareholder’s loan to preference shares, for which an approval-in-principle was granted vide our letter dated November 13, 2007 with the grant of final approval made subject to the fulfillment of the following conditions by MTNN:

     

    1. Implementation of the decision in item 5B of MTN Nigeria Communications Limited board resolution dated November 8, 2007 and submission of documentary evidence to that effect to the Director, Trade and Exchange Department of the Central Bank of Nigeria; and

     

    1. Provision of an undertaking that no remittance for either interest or principal repayment would be made to the shareholders from the date of the loan to the date they were converted to preference shares.

     

    1. In spite of the non-fulfillment of the above conditions in (iv) above and consequently, the non-issuance of a final approval by the CBN, your bank issued new CCIs in support of the illegal conversion of the shareholders’ loan to preference shares; an action that was later described by your bank in a letter to the CBN dated December 10, 2009, as an “unintended omission”; and

     

    1. On account of the illegal conversion of the shareholders loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by your bank and the other banks on behalf of MTN Nigeria Communications Limited between 2007 and 2015.

     

    • Other findings from our investigation included the following:

     

    1. Your bank issued three (3) CCIs outside the regulatory 24 hours without the approval of the CBN;

     

    1. In contravention of Memorandum 24 (ii) of the Foreign Exchange Manual, which requires that CCIs should be transferred based on customer’s instructions to a bank of the customer’s choice along with the transaction history of the CCI, you provided confirmation to two other banks, Citibank and Diamond Bank, instead of transferring the CCIs to them as required by the Foreign Exchange Manual.

     

    The two banks on the strength of your confirmation subsequently remitted various sums as dividend for MTN Nigeria Communications Limited at different times; and

     

    1. Your bank failed to issue a letter of indemnity to the CBN against double remittance in respect of ten CCIs transferred by Diamond Bank and Citibank to your bank as required under subsection 5(iii) of Memorandum 24 of the Foreign Exchange Manual.

     

    Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matter.

     

    CBN’s letter to Stanbic-IBTC says:

    Our investigation also revealed the following, among others:

     

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2001 to 2006;

     

    1. The investment was carried out through the inflow of foreign currency cash transfers and equipment importation, which was evidenced by the CCIs issued by Standard Chartered Bank, Diamond Bank and Citibank, out of which eight of the CCIs totaling $377,216,508.30 were transferred to your bank by Standard Chartered Bank. Consequently, your bank repatriated the sum of $929,051,331.83 as proceeds of divestment from the CCIs valued at $42,704,408.61.

     

    • On account of the illegal conversion of the shareholders loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by your bank and the other banks on behalf of MTN Nigeria Communications Limited between 2007 and 2015.

     

    • Other findings from our investigation included the following:

     

    a). Your bank falsely reported thirty five CCIs valued $313,683,925.84 inappropriately as “other purchases” in your MTR 203 returns for February 2008 instead of “capital importation”;

     

    1. Your bank issued eight CCIs of $58,359,616.67 in respect of foreign exchange sourced locally as shareholders’ loan. This constituted a contravention of the requirement of Section 15 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 and Memorandum 20 (1.3) (iii) of the Foreign Exchange Manual, which stipulate that CCIs should only be issued on capital imported;

    c). Your bank issued eight CCIs for capital inflows in form of machinery outside the 24 hours regulatory requirement of receipt of shipping documents in contravention of paragraph 4.1.1 (IV) of the Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2012 to 2013;

     

    1. d) Your bank failed to issue a letter of indemnity to the CBN against double remittance in respect of twenty CCIs transferred by Standard Chartered Bank to your bank as required under subsection 5(iii) of Memorandum 24 of the Foreign Exchange Manual; and

     

    1. e) Your bank repatriated dividends totaling $905,260.20 in respect of CCIs illegally issued on the strength of locally sourced capital.

     

    • Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matter.

     

     

    CBN’s letter to CitiBank says:

    Our investigation also revealed the following, among others:

     

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2001 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfer and equipment importation evidenced by the CCIs issued by your bank, Standard Chartered Bank and Diamond Bank;

     

    • The CCIs issued by your bank along with the other banks in respect of the $402,590,261.03 showed that $59,436,923.44 was recorded/invested as shareholders’ loan and $343,153,339.56 as equity at the time of the investment. This position was, however, contrary to the position in the financial statements of MTN Nigeria Communications Limited for the year ended December 31, 2007, which showed that $399,594,146.00 was invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by your bank, Standard Chartered Bank (SCB) and Diamond Bank (DB). Your action in this regard constituted a rendition of false returns to the Central Bank of Nigeria;
    1. Your bank issued seven (7) CCIs to MTN Nigeria (MTNN) totaling $42,126,803.04 that were subsequently transferred to Standard Chartered Bank Limited at the request of your customer (MTNN) on February 6,
    2. 2006, which constituted part of the CCIs that were consequently irregularly re-issued;
    3. Four of the CCIs issued by your bank evidencing the inflow of capital imported as cash were issued outside the period of 24 hours allowed by regulation upon the receipt of inflow, in flagrant contravention of Memorandum 22 of the Foreign Exchange Manual;

     

    1. Your bank failed to comply with extant regulations on the issuance of letter of indemnity to the CBN in addition to forwarding the transaction history of the CCIs to the CBN, as provided in Memorandum 24(5)(ii)(b) of the Foreign Exchange Manual in respect of the CCIs received by your bank from Standard Chartered Bank; and
    • Your bank purchased $535,000,000 on the basis of photocopies of Form “A” bearing the name of Standard Chartered Bank as the applicant bank and the referenced CCIs in contravention of Memorandum 24 (4) (a) of the Foreign Exchange Manual 2006.

    Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matters.

    CBN’s letter to Diamond Bank says:

    Our investigation also revealed the following, among others:

    1. The shareholders of MTN Nigeria Communications Limited invested the sum of $402,590,261.03 in the company from 2011 to 2006;
    2. The investment was carried out through the inflow of foreign currency cash transfer and equipment importation, which was evidenced by the CCIs issued by your bank, Citi Bank and Standard Chartered Bank;
    • The CCIs issued illegally by your bank along with the other banks in respect of the $402,590,261.03 showed that $59,436,923.44 was recorded/invested as shareholders’ loan and $343,153,339.56 as equity. This position was, however, contrary to the position in the financial statements of MTN Nigeria Communications Limited for the year ended December 31, 2007, which showed that $399,594,146.00 was invested as shareholders’ loan and $2,996,117.00 as equity investment, in accordance with the shareholder’s agreement but contrary to the CCIs issued by your bank, Citi Bank (CB) and Standard Chartered Bank (SCB). Your action in this regard constituted a rendition of false returns to the Central Bank of Nigeria; and
    1. On account of the illegal conversion of the shareholders loan to preference shares (interest free loan) of $399,594,146.00, the sum of $8,134,312,397.63 was illegally repatriated by your bank and the other banks on behalf of MTN Nigeria Communications Limited, within a period of six years.
    • Other findings from our investigation included the following:
    1. a) Your bank issued three CCIs in favour of Dantata Investment for the sum of $5million without converting the foreign exchange received into Naira as required by our regulations. On the basis of these illegally issued CCIs, your bank repatriated the sum of $102,545,336.77 in respect of these CCIs;
    2. A further review of the CCIs also showed that no Form “M” was opened as evidence of the utilization of the FX for the importation of goods (as “Not valid for FX”) into the country;
    3. Your bank remitted the sum of $348,914,501.38 as dividend to MTN Nigeria Communications Limited offshore corporate shareholders without any documentary evidence of the audited account of the company to justify the basis of the payment of the dividend declared and paid by MTNN. This action was a violation of the provision of Memorandum 24(4)(b) of the Foreign Exchange Manual;
    4. Your bank failed to indemnify SCB for losses and/or liabilities that may arise from the use of the CCIs you transferred to SCB in violation of the provisions of the Foreign Exchange Manual 2006;
    5. Your bank issued three CCIs outside the regulatory 24 hours without the approval of the CBN contrary to provisions of Memorandum 22 of the Foreign Exchange Manual 2006; and
    6. Your bank illegally remitted the sum of $352,222,358.39 on behalf of Standard Chartered Bank and Stanbic IBTC Bank in respect of the various CCIs issued to MTN Nigeria Communications Limited.

    Upon the conclusion of the investigation, the Committee of Governors of the Central Bank of Nigeria met with the management of your bank and the other banks as well as representatives of MTN Nigeria Communications Limited in Lagos on May 25, 2018. This was to give all the parties fair hearing, towards taking an informed decision on the matter.

  • Corps members in Niger take orientation in Kaduna- NYSC

    The National Youth Service Corps (NYSC) in Niger says its 2018 Batch B stream II members will take their orientation in Kaduna State.

    It said that this was based on directives to hold the orientation in cluster in 19 States due to the limited number of corps members in the batch across the country.

    This was contained in a statement by Mrs Theresa Arokoyo, the NYSC Coordinator in Niger and made available to the News Agency of Nigeria (NAN) on Wednesday in Minna.

    “The corps members are to take their orientation course at the NYSC Kaduna (Black Gold) orientation camp, one of the venues of the cluster camping exercise nationwide,” she said.

    Arokoyo said that the corps members after the three weeks orientation course would return to the state for posting to their primary places of assignment.

    NAN reports that only 600 corps members were deployed to the state in the batch. (NAN)

  • 2019: Why youths must get PVC – group

    A non-governmental organisation, Healthy Sense Initiative (HSI), says Nigerians, especially youths,  who fail to vote in 2019 will lack the grounds to complain of bad leadership.

    “Politics has always been a game of numbers, which is domiciled in the youth as they are more than a half of Nigeria’s population,’’ the Founder of the group, Mr Chris Chukwu,  said on Thursday.

    Chukwu spoke with the News Agency of Nigeria (NAN) in Enugu.

    He advised youths yet to register for PVC to take advantage of the extension of the registration.

    Chukwu said that youths should also take advantage of the passing and signing of the Not-Too-Young-To-Run Bill to be more active in politics and leadership.

    He described the law as one of the greatest steps taken by the current administration.

    “The signing of the bill shows that President Muhammadu Buhari and lawmakers believe in the Nigerian youth.

    “It is an opportunity for the youth to dominate their world. Every Nigerian youth should embrace the uncommon change in Nigeria politics.

    “It is time to get ready for the future, and the only way to do this is by getting involved and getting the PVCs.

    “Your vote is your voice. It is the only way to vote for whoever you want to represent you from councillors to the president,’’ he said.

    Also in an interview with NAN, a state house of assembly aspirant in Imo State, Mr Chijioke Uzomba, said that the Nigerian youth was ripe and ready for leadership and governance.

    Uzomba, who aspires to represent Ideato South Constituency on the platform of APC, advised youths to be focused and diligent and selfless as well as possess integrity and courage to be good leaders.

    The aspirant urged cooperation of all Nigerians to ensure that elections at all levels would be credible, peaceful, free and fair to place Nigeria on a strong pedestal for advancement.

    He advised Nigerians of voting age to ensure registration for PVC before its Aug. 31 deadline.

    NAN reports that the Independent National Electoral Commission extended the deadline from Aug. 17.

    Collection of PVCs will, however, continue until the last week of the 2019 General Elections. (NAN)

  • Libya evacuates with UN help migrants trapped by Tripoli clashes

    Libya evacuates with UN help migrants trapped by Tripoli clashes

    Hundreds of migrants have been relocated from government-run detention centres in Libya’s capital, Tripoli, after getting trapped by clashes between rival groups, UN and aid sources said on Thursday.

    The migrants had been abandoned after their guards fled fighting pitting rival groups vying for power and state funds, a recurring theme in the North African country since the chaotic overthrow of Muammar Gaddafi in a 2011 NATO-backed uprising.

    Hundreds of migrants had been brought to a “safer place’’ from two centres run by the UN-backed government from the Ain Zara area in southeastern Tripoli, aid workers said.

    The UN refugee agency UNHCR “in coordination with other agencies and the Department for Combatting Illegal Migration (DCIM) facilitated the transport of all persons in Ain Zara,’’ it said in a statement.

    The migrants were mainly Eritrean, Ethiopian and Somali nationals, who were brought to a separate detention centre away from fighting.

    However, a few people were still awaiting their evacuation at Ain Zara, an official at a separate international organisation said.

    Libya is the main departure point in North Africa for migrants crossing the Mediterranean Sea to Europe, mainly from other parts of Africa.

    The number of crossings has sharply fallen off since Italy provided the coast guard with more boats and brokered deals with local groups in a smuggler hub in 2017. (Rueters/NAN)

  • Denmark now net importer of oil

    Denmark will presently  have to get used to being a net oil importer according to  figures released by Denmark’s energy agency Energistyrelsen.

    It said that  2017 was the last year when more oil was produced than was used on the Danish domestic front.

    At least the gas scene looks a bit brighter – here, it is predicted that Denmark will be a net exporter until around 2035 except for a single year when the rigs in the Tyra field are renovated.

    Denmark has been a net exporter of oil and gas since 1993, the last one in the EU for most of this decade.

    The energy agency has scaled down future oil production by 8 per cent compared to last year’s forecast.

    On top of that, it is expected that the utilisation of several fields and finds of oil and gas will be postponed, while the renovation of the Tyra rigs will mean a fall in production during 2020 and 2021.

    As of January 2018, oil reserves and potential reserves were estimated at 139 million cubic metres – which is enough for 18 years’ consumption.

    When it comes to gas, resources are estimated to be 72 billion normal cubic metres, which equates to 30 years’ gas supply.

  • FG’ll explore all avenues to benefit from Green Climate Fund — Minister

    The Federal Government said on Thursday that it would explore all possible avenues to ensure that Nigeria benefitted immensely from the Green Climate Fund (GCF).

    The Minister of State for Environment,  Mallam Ibrahim Jibril, stated this at a Gala Dinner and Certificates Award Night organised by the African Union’s (AU) Scientific, Technical and Research Commission in Abuja, to mark the end of a three-day Capacity Building Consultative Workshop for AU member states.

    The consultative workshop was an avenue to train representatives of African states on how to access the GCF.

    According to the minister, accessing the fund will go a long way towards addressing climate change-related issues in the country.

    He said that towards that end, the environment ministry was working closely with the Federal Ministry of Power, Works and Housing to generate renewable energy as a way of mitigating the effect of climate change.

    He added that it was in a bid to address climate-related issues that Nigeria became the first African country to raise the Sovereign Green Bond in line with the objectives of the Paris Agreement of 2015 to which it is a signatory.

    The minister stated that the government would encourage the 36 states of the federation to put beautiful proposals that would stand the test of time, to benefit from the GCF.

    He then urged participants and other stakeholders that participated in the consultative workshop to return to their various countries and apply the knowledge and lessons learned during the interactive sessions to help grow the various agencies, parastatals, organisations and academic institutions in their countries to grow.

    Highpoint of the evening was the award of certificates of participation to all the key stakeholders, participants and resource persons that were at the workshop.

    The New Agency of Nigeria (NAN) reports that at least 20 African were represented at the workshop. (NAN)