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Buhari signs Mou to facilitate the return of illegally acquired assets to the country.
Buhari signs Mou to facilitate the return of illegally acquired assets to the country.
President Muhammadu Buhari Signs (MoU) between Nigeria, the Swiss Federal Council, and the International Development Association to facilitate the return of illegally acquired assets to the country.
The President said the arrival of the illegal assets would not only enhance his administration’s anti-corruption drive but also provide supplementary funds for critical infrastructure.
President Buhari, in a Report signed by his Special Adviser on Media and Publicity, Femi Adesina, yesterday said the MoU which came after the approval of the Federal Executive Council (FEC), will aid the restitution of the assets confiscated by Switzerland to Nigeria through a Return, Monitoring, and Management arrangement.
The President also signed the Instrument of Ratification of the agreement between the Government of the Federal Republic of Nigeria and the Government of the Republic of Singapore for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains.
He said with the execution of these instruments, Nigeria’s trade relations with Singapore and income therefrom are expected to rise.
The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami in December 2017 gave indication that the government of Switzerland was set to return in tranches the sum of $321m stolen from Nigeria and stashed in the European nation by the late former Head of State, Gen. Sani Abacha, and his family.
A statement by the AGF’s Special Adviser on Media and Publicity, Mr. Salihu Isah, stated that the development followed a tripartite MoU signed by Buhari representing Nigeria along with Switzerland and the World Bank in the United States of America on Monday.
According to Isah, Malami, on behalf of Nigeria, signed the MoU alongside representatives of Switzerland and World Bank at the ongoing Global Forum on Asset Recovery in the U.S.
Isah said the Director of the Directorate of International Law and head of the Swiss delegation to the GFAR, Roberto Balzaretti, signed on behalf of the government of Switzerland, while the Country Director of the World Bank office in Abuja, Mr. Rachid Benmessaoud, signed on behalf the World Bank.
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Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.
The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja
She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.
The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.
Read Also: FCTA Set to Implement Minimum Wage for FCT Workers
The Federal Government on Friday said it would not increase petrol price in June despite the recommendation by the Nigeria Governors Forum that the cost of the commodity is increased.
A committee set up by the Nigeria Governor’s Forum had on Wednesday recommended a petrol price of between N408.5/litre and N380/litre, and also called for immediate removal of petrol subsidy.
However, in a statement issued and signed by the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja on Friday, the government ruled out the possibility of a hike in petrol price any time soon.
The minister guaranteed Nigerians that the cost of the commodity would remain the same at between N162/litre and N165/litre.
Sylva said, “Once again it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit (petrol) to reflect current market realities.
“The current price of petrol will be retained in the month of June until the ongoing engagement with organised labour is concluded.”
“This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol.” He added.
The minister stated that he would like to strongly urge petroleum products marketers, not to engage in any activity that could jeopardise the supply and distribution system in place.
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The National Identity Management Commission (NIMC) on Thursday said that there is no cause for panic regarding the two weeks deadline for deactivation of subscribers identity module (sim) cards that are not linked with users’ national identity number (NIN).
The Commission explained that adequate arrangements have been made to capture the data of 200 million Nigerians within the next five years.
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It added that the steps taken so far to ensure that all subscribers have NIN in their sim cards are meant to address the security challenges facing the country.
The Commission also said the telecommunications operators would be involved in the exercise.
The Spokesman of NIMC, Kayode Adegoke said that government has approved licensing of over 200 institutions to carry out “enrolment of Nigerians and legal residents into the national identity database on behalf of the national identity management commission.”
Adegoke said the initiative was aimed at addressing the bottlenecks associated with the capturing of citizens data by NIMC.
He added that the method would increase the enrolment centres from the current 1,000 to 10,000 across the country.
He said the NIMC is desirous of scaling up its assignment to regulatory functions after the completion of the exercise.
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