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Nigerian Youths Creating Global Lalue, Okonjo-Iweala Lauds Burna Boy, others

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The new Director-General of World Trade Organisation, Dr. Ngozi Okonjo-Iweala, has stressed the need to invest in young Nigerians and the global value that the country will attract through such investment.

Specifically, she said talents abound in Nigeria including Afrobeat musicians, Burna Boy and Wizkid, who won their first awards at the 63rd Grammys this week.

Burna Boy, whose real name is Damini Ogulu, won the best global music album category with his Twice As Tall album released in August 2020.

Wizkid, on the other hand, won a Grammy for the Best Music Video’ for his role in ‘Brown Skin Girl’, Beyonce’s 2019 hit song.

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Speaking at a press briefing in Aso Villa Abuja this week, Okonjo-Iweala said, “Nigerian has many young people with a lot of talents. I just saw today that one of our musicians, Burna Boy won a Grammy Award. Our music, our movies are exported…and technology. Our young people are on the internet creating value. In Fintech, have the investment in Flutterwave that has led to the company being valued at almost a billion dollars.

“Our young people are doing so many things in services that can also be exported, and that is one area we need to look at. I was very heartened when the President spoke about investment in young people.”

The 66-year-old former finance minister is on her first working visit to Nigeria after she resumed office as WTO chief on March, 1, 2021, breaking a 26-year record to become the first African and first female director-general of the global trade and settlement body.

Okonjo-Iweala had also met with the President, Major General Muhammadu Buhari (rted), and Vice-President Yemi Osinbajo at Aso Villa as well as other ministers to thank them for their support right from her nomination stage to her emergence as WTO chief.

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Labour Force

Kogi Governor Approves Implementation of N30,000 Minimum Wage for workers

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Kogi Governor Approves Implementation of N30,000 Minimum Wage for workers

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

 

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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

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Finance

CBN to End Forex Sales to Commercial Banks in 2022

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Author: Eunice Johnson, Abuja 

The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022. CBN Governor Godwin Emefiele made this known in Abuja on Thursday at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme.

 

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Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas. The CBN, Emefiele said, will support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves.

He also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022. He added that the CBN would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.

He said international bodies, including some embassies and donor agencies, have been complicit in illegal forex transactions that have hindered the flow of foreign exchange into the country.

 

Read Also: CBN Encourages Nigerians to Accept E-Naira

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Customs Corner

Customs CG Deploys 37 Comptrollers as Comptroller Attah Heads Kebbi Command

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Customs CG Deploys 37 Comptrollers as Comptroller Attah Heads Kebbi Command

Author: Gift Wada, Abuja

The Comptroller General of Customs Col. Hameed Ibrahim Ali (Rtd.) has approved the deployment of 37 Comptrollers to various Units, Departments and Commands across the country.

This was disclosed in a release signed on Tuesday by the Customs Deputy National, DC Timi Bomodi for the Comptroller General of Customs.

Among those deployed are the present National PRO of Customs Comptroller Joseph Attah who will assume the office of Area Controller of Kebbi Command, Comptroller AAS Oloyede who shall be moving from ICT/MOD to Tin Can Island Port Command, while Comptroller SI Bomoi to FCT Command. Other postings are Comptroller BA Jaiyeoba to Oyo/Osun Command, Comptroller A Dappa-Williams to Eastern Marine Command, Compt. MA Umar Kano/Jigawa, Compt. KC Egwuh ICT/MOD, Compt. LM Mark Enugu/Anambra/Ebonyi, Compt. T Tachio CTC Kano, Compt. AA Umar Western Marine, Compt. M Dansakwa North Eastern Marine, Compt. AC Ayalogu T & T and Compt. KD Ilesanmi will assume duty as Comptroller Board among others.

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Ali in postings released on 7th of February, charged the newly posted Comptrollers to justify the confidence reposed in them by NCS Management by bringing to bear their years of experience and training in trade facilitation and anti-smuggling activities on their new assignment.

 

Given the enormous expectations of government regarding revenue generation in the current year, the Comptroller General reiterated the need for all Area Controllers and Unit heads to take full charge of the affairs of their Commands by ensuring absolute compliance with extant fiscal policies while leveraging on the efficient management of data to optimize trade facilitation and revenue collection.

Furthermore, the CGC directed all officers to be extremely vigilant in protecting the lives and wellbeing of Nigerians by ensuring the full fortification of our borders against the incursion of smugglers and other cross border criminals.

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