Tag: Osinbajo

  • Discord in Buhari’s Choir – Chidi Amuta

    Chidi Amuta

    President Muhammadu Buhari would have made a bad orchestra conductor. In that line of business, a certain faithfulness to synchrony and harmonious outcome is the secret of success.

    Even in his primary lifelong career of soldiering, order and uniformity have remained the hallmarks of the best traditions of the military endeavour. His present occupation of politics is however somewhat different. Politics is the pursuit of ultimate order by means of organized incoherence and deliberate multi speak. Yet power, which is the end of politics, assures governance. Success in governance is the triumph of order in the service of everyone’s good. Disorderly governance is the harbinger of something frightful: anarchy by whatever its various aliases.

     

    In recent months and weeks, Nigerians have been treated to a festival of discordant tunes from the apex of national power and governance. Sustained public outcry led to a belated firing of jaded and incompetent service chiefs. Before the public could decide on whether the service chiefs were pushed out or forced to jump off the wagon, the President nominated all of them for ambassadorial positions.

    Buhari administration seems to be posing fresh challenges for political science on the proper definition of governance in a democracy. Is government a collective responsibility with a unified position and voice? Or, is it an incoherent choir of privileged citizens as lone wolves in which each man or woman in authority sings what he pleases on public issues?

    A Senate that is ever ready to rubber stamp literally any knee jerk or sneeze from the executive branch readily confirmed the former service chiefs to represent Nigeria anywhere the president may send them in the world. No questions asked. No recourse to proper security clearance. No audit clearance by the different arms of the services over which they presided. Not even a public hearing to allow the ex chiefs to defend their track record of public service in their controversial recent roles against the background of spiraling nationwide insecurity. There was not even an opportunity for the Nigerian public to decide whether the former chiefs understand civics let alone Nigeria’s foreign policy imperatives. Just “Carry Go” in popular Nigerian parlance! Take a bow and go!

     

    Just last week, a controversial BBC interview by the president’s National Security Adviser, Mr. Babagana Monguno, raised disturbing questions about basic accountability under the ex service chiefs. Before Mr. Monguno was obviously compelled to readjust his position, he had raised questions concerning the use of the over $1 billion commandeered from the Excess Crude Account belonging to the states to fund military supplies in aid of the counter insurgency operations in the North East. By Monguno’s original account, there is as yet no verifiable evidence of arms and equipment procurement with the funds nor could the funds be located or properly accounted for. An embarrassed presidency jumped to reduce the damage, insisting that no money was missing. But the damage had been done in terms of the considerably degraded credibility of the Buhari administration who keeps swearing by its commitment to the fight against corruption.

     

    While the embers of this potential scandal are still glowing, two major media outlets have recently treated the public to even more damning obviously leaked stories around the office of the NSA. According to a report in The Cable and substantially amplified by the San Francisco based The Will, Mr. Monguno was barely stopped from committing the nation to a $2.5 billion arms purchase deal with a United Arab Emirates third party arms supply company in aid of the same North East counter insurgency enterprise.

     

    According to this yet uncorroborated report, the deal was only scuttled by the intervention of late presidential Chief of Staff Abba Kyari who along with the president insisted that arms purchases of that magnitude should only be on a government-to-government basis. This position was later reaffirmed by Vice President Yemi Osinbajo when the matter resurfaced when he was acting president during Buhari’s medical leave.

     

    What is brewing around the NSA’s office is an obvious armsgate hurricane scandal with vast implications for the Buhari presidency. From the numerous reports of money and arms racketeering around the office of the NSA under former president Goodluck Jonathan, it is emerging that the office of the NSA in Nigeria has become a giant clearing house for nefarious arms and security fund related corruption. These range from funneling of funds for political purposes to questionable black market and middle man arms deals.

     

    This trend, now being amplified under Mr. Buhari, raises many disturbing questions. In a country with a Ministry of Defence with extant bureaucratic structures of accountability and arms purchase procedures, it is strange that a black market structure has been allowed to grow in the office of the NSA. Instructively, the Nigerian Ministry of Defence has considerable experience in arms procurement transactions spanning a full -fledged civil war and numerous peace keeping operations for over four decades. Why would matters of arms purchases be left to the whims of the office of the NSA? Why would the office of the NSA be commandeered to carry out nefarious transactions and illicit covert security related operations in spite of the existence of the existence of agencies like the Defence Intelligence Agency(DIA), the Department of State Security(DSS), the National Intelligence Agency(NIA) and even the Police? Many informed opinions in Nigeria have since come to the conclusion that the insurgencies and terrorist related problems of the country have persisted for this long mostly because the entire military operations around them have since transformed into an industry of armed corruption, an over laden gravy train that is not in a hurry to end.

     

    There is nothing in the section of the Constitution establishing the office of the NSA that entrusts it with the numerous underhand money laundering, humongous stealing and scam errands that we have witnessed both under Mr. Jonathan and now Mr. Buhari. The aberrations are typical exhibits of Nigeria’s institutionalized political rascality and leadership without accountability.

     

    In the US tradition that we pretend to be copying, the office of the National Security Adviser is essentially meant to be one of an intellectual sounding board for the president on National Security issues. Its roles ought to include the generation of policy options as well as liaising with and among national security institutions and agencies on behalf of the president. It even includes strategic projections on future national security threats and building scenarios that would guide the president to avoid future national security emergencies that may grow into credible threats. This why US presidents have tended to traditionally prefer either renowned intellectuals or former military and intelligence persons with a certain measure of intellectual depth and curiosity to fill the position.

     

    On a strictly governmental pecking order, while the NSA is a senior cabinet rank presidential adviser, the only difference between him/her and the other senior advisers of the president is in the nature of the NSA’s subject: security and intelligence. But strictly speaking, the office of the NSA in the US tradition is essentially one of the intellectual multiplier centres for increasing the options available to the president on matters of national security.

     

    On matters of arms and armaments, the views of the NSA would only be important to the extent that such materiel affect the nation’s strategic advantages. Between the NSA’s office and the Pentagon there is both physically and conceptually a very long distance. I could not imagine former US NSAs like Condoleeza Rice, Collin Powell, Zbibigniew Brzenski or Jake Sullivan featuring as glorified arms merchants and political paymasters in any Pentagon arms procurement transaction!

     

    For the office of our NSA to be reduced to an unlicensed mini bureau de change, politicians casino or an Arab street bazaar of infamy is the hallmark of a leadership decay that can only be Nigerian. Furthermore, to use that office to usurp or dilute the functions of the Ministry of Defence is a tragic institutional devaluation. Even worse is the anomaly of allowing the service chiefs to be absorbed in the mundane gritty of direct arms procurement transactions instead of serving as technical advisers to the Ministry of Defence as end users of the armaments. On the potential scandals now flying around on arms and money around the office of the NSA and the former service chiefs, the least that the Nigerian public expects from president Buhari is the urgent institution of a credible investigation into these allegations. The benefit of such an investigation belongs ultimately to the president whose legacy may be further tainted by the potential scandals.

     

    To nearly every ordinary Nigeria, economic calculations begin and end at the gas station. The pump price of petrol and diesel determine most other things that are important to ordinary lives. And for successive Nigerian governments, routine and frequent increases in the price of petroleum products has become the readiest form of lazy taxation. Claims of subsidy on imported petroleum products has fueled the frequent price increases. Barely a fortnight ago, the Petroleum Price Regulatory Agency (PPRA) which administers the prices of these products on behalf of government announced a sudden increase in petroleum products prices, the third or fourth in the last two years. The public woke up to find either shut gas stations, long queues or increased prices. Labour unions were caught unawares. A showdown between government and labour accompanied by spontaneous public unrest was imminent. Government panicked but feigned lack of awareness of the decision to hike prices. The NNPC and the Petroleum Ministry went into a damage control mode by disowning an condemning the increases as unauthorized. The imminent price increase was doused and reversed pending consultations between government and labour.

     

    Here again, on something as important as petroleum product prices, this government was as incoherent as can be. The Ministry of Petroleum and a parastatal under its direct purview were discordant. There is no greater indication that this government lacks internal cohesion and consensus on even the most fundamental issue that affect the welfare of most Nigerians.

     

    While all that lasted, news came that the United Kingdom government was in the process of returning the sum of £4.2 million recovered from former Governor James Ibori of Delta State. Even before the funds were received, President Buhari’s over politicized Attorney General, Mr. Abubakar Malami, quickly announced that the anticipated funds would be appropriated by the federal government to pay for ongoing federal projects ranging from the Second Niger Bridge, the Kano-Kaduna highway and the Lagos-Ibadan expressway etc. Interestingly, no senior official of government or even the presidency itself offered any view in support of the Attorney General. There was no indication that the Attorney General’s position reflected the collective stance of government resulting from any systematic consultations, logic or concerted policy position.

     

    Quickly, the position of the AG was greeted by a firestorm of nationwide controversy which was clearly avoidable. Common sense dictates that the recovered funds should on receipt revert to Delta State from whose coffers they were stolen in the first place. It is of course the responsibility of the federal government and specifically the office of the Attorney General’s office to stage all the legal processes required to deal with any legal matters between the Nigerian sovereign and any external jurisdiction. Once that matter is resolved, the proceeds of the outcome will automatically revert to whatever Nigerian province of state where remedy and restitution is deserved. In the case of the Ibori funds, the money belongs squarely to Delta State and should be accordingly returned to it. A father who fights off robbers who invade his home to steal the property of one of his children can only restore the stolen item to the affected child when recovered, not distribute the recovered item to the entire family. It does appear that what we are dealing with in the Ibori matter is once again the overbearing ego of an Attorney General who may have sliced off a portion of presidential authority and domiciled it in his brief case. Only a few days ago, the AG regaled the nation with self adulation on why he single handedly chose the newly confirmed EFCC chairman, Mr. Bawa, to succeed his political adversary Mr. Magu, for the job!

     

    There is further growing evidence that an increasing number of high officials of this administration are functioning more like policy lone wolves. Highly placed government officials are coming up with disjointed policy positions of their own fabrication and announcing same as government positions even where such policies have far reaching implications for the national economy and the livelihood of many Nigerians. This may be partly because they look in vain for policy direction from the top or informed consensus within government on important issues. A recent example is the Central Bank of Nigeria policy circular arbitrarily banning crypto currencies. That policy announcement quickly destabilized the growing digital economic outreach of some Nigerian entrepreneurs. It also sent out a warning signal to international digital economy players. A number of Nigerian digital economy startups had made considerable inroads and investments in crypto currencies. They were caught napping.

     

    Obviously, the CBN position was patently uninformed either about the crypto currency phenomenon or indeed the current trend in the global economic space as it concerns crypto currencies. Coincidentally, barely 48 hours after the CBN announcement, Elon Musk, the US tech billionaire owner of Tesla and Space X invested $1.5 billion in Bitcoin, a leading crypto currency. The international stock price of Bitcoin went astronomically high and attracted many more high stakes investors. In a somewhat related development, a major Nigerian owned but US based digital economy payment company Flutterwave hit $i billion in capitalization within weeks of the CBN announcement. On its part, the Bank of England announced its policies and regulatory framework on crypt currencies while encouraging British investors to explore possibilities in that zone.

     

    Clearly then, Mr. Emefiele, Nigerian’s Central Bank Tsar, may have taken a decision based mostly on his own conservative economics orientation, not on current global economic trends. Instead of using the vast resources of the CBN to increase knowledge on crypto currencies in order to evolve a suitable regulatory framework for the country, the CBN governor adopted the usual Nigerian lazy approach of staying on the familiar road. Mr. Emefiele was quickly summoned by the National Assembly in a bid to sanctify a pre-ordained medieval policy choice. The NASS hearing produced neither heat nor light on the subject of crypto currencies as a good number of the legislators displayed patent ignorance of the crypto currency phenomenon. Luckily for all of us, the President’s spokespersons kept a dignified silence on Emefiele’s unfortunate misadventure.

     

    While the mostly ignorance driven controversy raged, Vice President Yemi Osinbajo stepped forward as usual to add light to an unnecessary controversy. Speaking at a Bankers Committee Webinar a few days into the debate, the Vice President directly contradicted and cancelled out the CBN governor. He insisted that the challenge of Nigeria was to evolve a robust regulatory framework for crypto currencies instead of an outright ban as had been announced. Mr. Osinbajo, ever the persistent voice of enlightenment and reason in the Buhari administration, was advocating the adoption and creation of room for disruptive technologies if Nigeria is to occupy any place in the new world. In a new world ruled by knowledge especially the power of digitization, it is odd that a country with the knowledge base and economic potentials of Nigeria should be marooned in policy antiquity as conveyed in Mr. Emefiele’s recurrent policy positions.

     

    Interestingly, the Vice President is the chairperson of the National Economic Council(NEC) which is constitutionally mandated to oversee the national economy at the apex. Yet he obviously did not have any fore knowledge of such a major policy decision of the Central Bank. It is also interesting that no single member of the president’s Economic Advisory Council came forward to comment on Mr. Emefiele’s ancient policy on cryptocurrencies. Here again, we are face to face with avoidable discord on what ought to be a major government policy position.

     

    On these and numerous other issues, the Buhari administration seems to be posing fresh challenges for political science on the proper definition of governance in a democracy. Is government a collective responsibility with a unified position and voice? Or, is it an incoherent choir of privileged citizens as lone wolves in which each man or woman in authority sings what he pleases on public issues?

     

     

     

     

     

     

     

     

     

  • Osinbajo, Zulum, Amaechi for Dakuku’s book launch

    Osinbajo, Zulum, Amaechi for Dakuku’s book launch

    Vice President Yemi Osinbajo, Borno State Governor Babangana Zulum and Minister of Transportation, Rotimi Amaechi are among the distinguished personalities billed for the public presentation of ‘Strategic Turnaround: The story of a government agency’ authored by Dr. Dakuku Peterside, the immediate past Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA).

    The book, which chronicles the transformation of a strategic government agency is scheduled for public presentation virtually (via Zoom) on March 25, 2020.

    See details below:

     

     

  • I’m indebted to Nigerians- Osinbajo

    I’m indebted to Nigerians- Osinbajo

    Vice-President Yemi Osinbajo on Monday noted that he was indebted to Nigerians who showed him affection as he clocked 64 years old.

    He made this known in an interview with State House correspondents shortly after cutting his birthday cake on Monday at the Presidential Villa, Abuja.

    He said, “I must say that I am extremely grateful; first, to the Almighty God for preserving my life till day; 64th birthday.

    “But also to say how deeply indebted I am to the Nigeria people and to so many who have shown so much love and so much affection and so many across the nation who have wished me a happy birthday.

    “I wish them also not just great birthday but I pray that the Almighty God will celebrate them just as they have celebrated me,’’ he said.

    The Permanent Secretary, State House, Tijani Umar, joined other top government officials who honoured Osinbajo in his office.

    He said? “First and foremost, let me say that I have come here on behalf of management and Staff of the State House to wish the vice president a very happy birthday; he is being a great boss.

    “I think the simple conclusion is that we have somebody who is very studious; somebody who absolutely understands and then, we have a boss who cares and he portrays the very clear sign that every staff member matters to him.

    “There is this unbelievable empathy when you deal with the vice president and for this, every staff member is happy today that he is celebrating his 64th birthday and they sent me on their behalf to pass the message of happy celebration to him.”

     

  • Osinbajo is a reliable, competent Deputy – Buhari

    Osinbajo is a reliable, competent Deputy – Buhari

    President Muhammadu Buhari has described Vice President Yemi Osinbajo as “a reliable and dedicated deputy who is not only admirably competent, but also exudes confidence and passion in the performance of his job.”

    Buhari, in a message to celebrate Osinbajo on his 64th birthday today (Monday) said” “I’m proud to have selected Osinbajo as my running mate and he has given a good account of himself since our journey began in 2015.

    “The vice president is a cool-headed gentleman who puts the interest of Nigeria above other narrow considerations.

    “Vice President Osinbajo is an incredibly patient politician who demonstrates remarkable intellectual and mental energy in the discharge of his duties.”

    The president, according to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, wished Osinbajo many more prosperous years and Almighty God’s continued guidance.

  • Buhari, Osinbajo took malaria injections not Covid-19 injection – Pastor Giwa claims

    Buhari, Osinbajo took malaria injections not Covid-19 injection – Pastor Giwa claims

    The Senior Pastor of Awaiting The Second Coming Of Christ Ministry, Adewale Giwa has dismissed the COVID-19 vaccination of President Muhammadu Buhari and his Vice, Yemi Osinbajo.

    Giwa said the COVID-19 vaccines they took were meant to cure malaria.

    Addressing his members on Sunday, Pastor Giwa urged Nigerians to be watchful.

    In a statement widely circulated on Sunday , the cleric recalled that he had earlier warned the world in April, 2020, that those who brought coronavirus pandemic were just buying time to prepare for vaccines aimed at shortening the lives of the people.

    Buhari and Osinbajo had received jabs of the COVID-19 vaccines on live television on Saturday.

    The President was vaccinated by the Chief Personal Physician to the President, Suhayb Sanusi, while Osinbajo was vaccinated by his personal physician, Nicholas Audifferen.

    However, Giwa described the exercise as fake, saying the president and his vice only took malaria injections.

    He said, “Hear me again God’s people, the vaccines they took were meant for malaria. Do not let anyone deceive you to go take a vaccine that will shorten your life.

    “It’s not important to agree with me, but be watchful and careful. Many of you were here in April when I told the world that a vaccine was coming.

    “It has finally come, and they are doing everything possible to convince you to be vaccinated. None of my members was diagnosed with COVID-19, so, why must you convince me to take the injection?

    “They have also hinted that very soon, nobody will be able to travel without the Covid-19 vaccination certificate.

    “Why do you want to force me to get what I don’t want to? Do not forget that they had wanted to implement this through Infectious Diseases Bill but God said no.

    “Now, the devil is using them again to deceive the people. Were you there when they made the vaccines?

    “If coronavirus could not kill all of us in March till date, why introduce a vaccine that will shorten our lives? Let those who need it take it. As for me, the only name on my lips is Jesus Christ.

    “At the cross over service on December 24, I told you to expect great tribulation anytime soon and only those who endure who will be saved.

    “You can’t kill me before God’s appointed time and I refuse to be cajoled, deceived or manipulated. Their plans will fail unless it’s God’s will.”

  • COVID-19: Vaccination wasn’t painful, I didn’t feel a pinch-Osinbajo

    COVID-19: Vaccination wasn’t painful, I didn’t feel a pinch-Osinbajo

    Vice President Yemi Osinbajo on Saturday alongside President Muhammadu Buhari, got vaccinated with the Astra-Zeneca Covid-19 vaccine at the Presidential Villa, Abuja.

    The President and his Deputy got the vaccine following the launch of the vaccination exercise in the country with front line health workers.

    According to tweets by the VP’s Spokesperson, Mr. Laolu Akande, Osinbajo was given the vaccination by Dr. Nicholas, his personal physician.

    Akande tweeted, “Mr. President and his deputy, VP Osinbajo just got vaccinated with the Astra-Zeneca Covid-19 vaccine at the Presidential Villa following the launch of the vaccination exercise yesterday with frontline health workers. We should all take turns when time comes to get the happy jabs!

    “Why did I say happy jabs? Well first & foremost it’s the beginning of the ending of this yearlong pandemic or so we hope. And secondly, VP says right after the jab by Dr. Nic, his Personal Physician “the thing was not painful at all. I didn’t even feel the pinch.” That’s Happy!”

    TheNewsGuru recalls that health workers at the National Hospital in Abuja were the first to receive the Oxford-AstraZeneca vaccines in Nigeria, with a medical doctor, Cyprian Ngong, becoming the first person to receive a jab, alongside three other health workers during the flag-off event in Abuja.

  • Buhari, Osinbajo to take COVID-19 vaccines Saturday

    Buhari, Osinbajo to take COVID-19 vaccines Saturday

    President Muhammadu Buhari and Vice-President Yemi Osinbajo, will take shots of AstraZeneca/Oxford COVID-19 vaccines on Saturday.

    Executive Director, National Primary Health Care Development Agency, Dr Faisal Shuaib, disclosed this at a State House briefing in Abuja on Thursday.

    According to him, the exercise will increase the confidence of Nigerians to receive the about four million doses of AstraZeneca/Oxford COVID-19 vaccine shipped into the country this week.

    Shuaib said, “The next step in the vaccination programme given that we’ve now received the vaccines is a launch that will be taking place at the National Hospital tomorrow (Friday). The time scheduled for that launch is 10am. The launch will be conducted by the Chairman of the Presidential Task Force on COVID-19, (Boss Mustapha).

    “The plan is to vaccinate the frontline health workers that work in the treatment centre of the National Hospital, those will be the first people just like we’ve communicated that frontline health workers will be the first people to take the vaccines.

    [ “After that, the plan is to vaccinate Mr President, Mr Vice-President and strategic leaders on Saturday. Again, we are hopeful that when Nigerians see leaders like Mr President and Mr Vice-President take the vaccines; it will increase their confidence around the safety of the vaccines.

    “As you are well aware that even before the vaccines arrived Nigeria, there is a lot of hesitancy. It is a global phenomenon. Vaccine hesitancy is similar no matter where you are, you have to provide the right information and to those people who have questions, we cannot dismiss their cynicism.

    “It is our responsibility as public health workers not to only offer the vaccines but do the extra work in terms of providing the resources that are needed and to convince people that these vaccines are safe.”

    The NPHCDA boss also charged Nigerians who wish to receive the vaccines to register on the website of the agency.

     

  • Buhari, Osinbajo set to take COVID vaccine on Saturday

    Buhari, Osinbajo set to take COVID vaccine on Saturday

    President Muhammadu Buhari, Vice President Yemi Osinbajo, the Secretary to the Government of the Federation (SGF), Boss Mustapha and other prominent Nigerians will be among the first set of Nigerians to receive the COVID-19 vaccine on live television.

    They are expected to receive the first dose of the vaccine on Saturday, March 6.

    The Executive Director/CEO, National Primary Health Care Development Agency (NPHCDA), Dr Faisal Shuaib, said this on Monday at the joint national briefing of the Presidential Task Force (PTF) on COVID-19.

    Daily Trust reports that four million doses of the Oxford-AstraZeneca COVID-19 vaccines will arrive in the country from India on Tuesday.

    Shuaib had, on January 7, said Buhari, Vice President Osinbajo, the SGF and other prominent Nigerians will be among the first set of Nigerians to receive the vaccine.

    According to him, this is to help drive awareness on the virus and the vaccine administration in the country when it finally arrives.

    He urged Nigerians not to be hesitant about the vaccines when they arrive.

    At Monday’s briefing, Faisal said the first batch of the Oxford/AstraZeneca COVID-19 vaccine, which is about 3,924,000 doses, is expected to arrive in Nigeria Tuesday, 2 March 2021 at 11:10 am.

    He assured Nigerians that all necessary safety and quality control measures have been put in place for the arrival, storage and successful administration of the vaccine in the country.

    According to him, there is going to be a mini ceremony chaired by the Chairman of the PTF on COVID-19 to receive the vaccine at the VIP Protocol section, General Aviation Terminal of Nnamdi Azikiwe International Airport, Abuja.

    He said at the end of the ceremony to mark the arrival of the vaccines, a few vials of the vaccines would be handed over to the NAFDAC team which they will analyse over a period of two days (Wednesday, March 3 and Thursday, March 4).

    “Further to the clearance by NAFDAC, the PTF, FMOH, NPHCDA and strategic leaders will be at the treatment centre of the National Hospital on Friday, March 5th 2021, where the first vaccination site will be set up to commence the vaccination of the frontline health workers and support staff.

    These Staff would also be electronically registered in the COVID-19 vaccine database and would receive their COVID-19 vaccination card which has a QR code that can be verified worldwide.

    “On Saturday, March 6th, key strategic leaders will receive the first dose of the vaccine,” Faisal said.

    They are expected to receive the first dose of the vaccine on Saturday, March 6.

     

  • CBN reacts to Osinbajo’s counsel on regulation of cryptocurrency

    CBN reacts to Osinbajo’s counsel on regulation of cryptocurrency

    The Central Bank of Nigeria (CBN) has acknowledged the counsel of Vice – President, Prof. Yemi Osinbajo, in support of the regulation of digital currencies.

    TheNewsGuru.com, TNG reports that the apex bank had earlier ordered commercial banks to restrict cryptocurrencies related transactions.

    TNG reports that the Vice President on Friday said there is a role for regulation whereby both the monetary authorities and the security and exchange commission would “provide a robust regulatory regime that addresses these serious concerns without killing the goose that might lay the golden eggs.”

    Acknowledging Osinbajo’s knowledge-based advise on cryptocurrency, the CBN via its official twitter handle, @cenbank, noted that VP’s advice is so as to ensure that they are in a position to prevent any of the adverse side effect or even possible criminal acts that may arise as a consequence of adopting blockchain technology.

     

    The tweet reads “#Osinbajo advises #CBN to put in place a thoughtful & knowledge based regulation, cautioned on the need to ensure that we are in a position to prevent any of the adverse side effects or even possible criminal acts that may arise as a consequence of adopting blockchain technology.

    “The banking sector plays a crucial role in promoting increased & inclusive growth in Nigeria, VP #Osinbajo commended #CBN for the forward looking support for growth related initiatives, especially under the economic sustainability plan.

    “The VP #Osinbajo also commended the DMBs for their patriotic contributions to sustain growth but called for the need to further deepen the provision of capital that would allow businesses to grow over the long term.”

  • We are close to lifting 20 million Nigerians out of poverty – Osinbajo

    We are close to lifting 20 million Nigerians out of poverty – Osinbajo

    Vice President Yemi Osinbajo (SAN) has said that the Federal Government’s vision to lift at least 20 million Nigerians out of poverty in the next two years is now within reach.

    Professor Osinbajo stated this on Tuesday in Abuja during the virtual flag-off of the cash transfer scheme, called the Rapid Response Register (RRR), to be facilitated through a wholly technology-based approach.

    This followed the successful activation of the Economic Sustainability Plan’s (ESP) Cash Transfer scheme aimed at delivering financial support to at least 1 million urban-based households.

    According to the Vice President, RRR is a means by which the urban poor and vulnerable population can be speedily identified using geographic satellite technology and other related means for the purposes of delivering cash to households affected by the fallouts of the COVID-19 pandemic in the country.

    “The groundbreaking success of the RRR, now emboldens us to achieve our aspiration of a social security programme for a minimum of twenty million Nigerians in the next two years. This will be the largest of its kind on the continent. This (aspiration) is, at least from the perspective of this tested approach, now well within our reach,” a statement by the Vice President’s aide, Laolu Akande quoted him as saying.

    “The only constraint, of course, is the funding which we must look for because, this country deserves a social security scheme that will not merely alleviate poverty but also create wealth for the millions of those who are waiting for this opportunity.

    “Our government launched the National Social Protection Policy (NSPP) in 2017 to provide the framework for institutionalizing the work we started since 2016 on reducing extreme poverty in Nigeria, based on our administration’s vision to create a comprehensive social security programme for the poor and vulnerable and thereafter the pledge to lift 100 million Nigerian’s out of poverty in ten years.”

    The Vice President maintained that the launch of the (RRR) social protection method of targeting, which is the first strategy to be developed and tested in the Sub-Saharan Africa region, would enable Nigeria tackle poverty in a more systematic manner, leveraging technology to expand the scope of the interventions.

    “As of 31st December 2020, we have identified and registered about 24.3 million poor and vulnerable individuals into the National Social Register; equivalent to about 5.7 million households. Through this project, we are currently injecting about N10 Billion directly into the hands of about 2 million poor and vulnerable people every month,” the Vice President said.

    “This is about the largest evidence-based effort by any administration on poverty reduction and its impact on the lives of the poor is huge; by way of improving the livelihoods of the beneficiaries through enhanced household purchasing power; smoothening consumption; increasing savings and acquisition of household assets; and improving the local economy. There are many more ramifications.”

    Earlier in her remarks, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Farouq, said the initiative would provide a gateway to other important government programmes, adding that Nigeria now has a database for impact tracking and the expansion of social interventions and related programmes, in line with President Muhammadu Buhari’s vision of extending financial support to more Nigerians.

    She said: “By design, this register links to other databases such as banking information of respondents and national identity numbers. It is also a process that is advanced in unifying national databank towards the delivery of social development in Nigeria. There is no doubt that in future, as has been demonstrated in the previous presentation, we would be reverting to the process used here and the register itself, to aid emergency assistance”.

    On his part, the World Bank Country Director for Nigeria, Mr Subham Chaudhuri commended the Federal Government for the initiative, noting that it as a critical component in the country’s response to the COVID-19 pandemic.

    While pledging the support of the World Bank for the project, Mr Chaudhuri emphasized the need for stakeholders to remain transparent in the selection and disbursement of the funds to the beneficiaries.

    About 3,115 households received alerts of payments instantly at the flag-off of the project by the Vice President.

    A total of 1 million households would be impacted directly under the scheme in the next 6 months.

    The Cash Transfer scheme which is part of the ESP is designed to build a shock responsive framework for capturing and registering the urban poor and vulnerable populations across Nigeria. The RRR focuses mainly on the urban poor wards selected using scientifically validated methods of satellite remote sensing technology, machine learning algorithm and big data analysis.

    Also present at the event were the Minister of Labour and Employment, Sen. Chris Ngige; the representative of the European Union (EU) mission in Nigeria, Mr Ketil Karlsen, among others.