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Heritage Bank to disburse CBN’s N100bn loan to health, sells FX to SMEs, education sectors

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As part of proactive measures to cushion the effect of the COVID-19 and revamp the nation’s dwindling economy, Heritage Bank is set to disburse the N100billion set aside by the Central Bank of Nigeria (CBN).

This is in line with the apex bank’s policy to introduce another intervention scheme directed to the health sector, which is known as the NGN100 Billion Credit Support for the Healthcare sector (the Scheme). Specifically, the scheme is to provide credit to indigenous pharmaceutical companies and other healthcare value chain players intending to build or expand capacity.

Also, the CBN resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees and small medium enterprises (SMEs) with plans to make essential imports needed to revamp economic activities across the country. In particular, the CBN is resuming the provision of over US$100 million per week for both categories.

Meanwhile, Heritage Bank serves as a conduit which will assess and channel the profiles of interested applicants to the CBN while using its platforms to create awareness for the scheme.

The CBN has also made complete arrangements to resume foreign exchange sales to the BDC segment of the market for business travels, personal travels, and other designated retail uses, as soon as international flights resume.

To access the N100bn loans provided by the CBN for firms in the healthcare sector, a corporate entity must submit its application to a participating financial institution (PFI) which could be either a Deposit Money Bank or a Development Finance Institution of its choice with a bankable business plan.

It stated in its latest guidelines that the PFI must appraise and conduct due diligence on the application; and upon approval by the PFI’s credit committee, the application would be submitted to the apex bank with relevant documents attached.

The CBN would process and disburse funds to the PFI for onward release to the project, it added.

The CBN stated that the PFI must receive and review applications submitted by its customers; undertake due diligence based on normal business considerations, and bear the credit risk.

They must also issue offer letters and forward qualified applications to the CBN; disburse the released funds to successful applicants; monitor the project and recover the loans from the beneficiaries, and maintain adequate records of all beneficiaries and facilities.

It requires the PFIs to register all movable assets with the National Collateral Registry; forward periodic returns in the prescribed format on the scheme to the CBN; comply with the guidelines, and carry out any other duties as the CBN may prescribe from time to time.

According to the CBN, eligible participants under the scheme comprise healthcare product manufacturers – pharmaceutical drugs and medical equipment; and healthcare service providers/medical facilities – hospitals/clinics, diagnostic centres/laboratories, fitness and wellness centres, rehabilitation centres, dialysis centres and blood banks, among others.

Others include pharmaceutical/medical products distribution and logistics services; and other human healthcare service providers as may be determined by the CBN from time to time.

Eligible activities under the scheme would include manufacturing of pharmaceutical drugs and medical equipment; establishment/expansion/upgrade of basic and specialised healthcare facilities; and medical/pharmaceutical supplies.

Others are medical/pharmaceutical research and development; distribution of medical/pharmaceutical drugs and supplies; Manufacturing of medical/pharmaceutical drugs distribution technology; and any other healthcare value chain activity as may be prescribed by the CBN.

The CBN said the term loan had a maximum of N2billion per obligor; and the interest rate under the intervention would not be more than five per cent per annum up until February 28, 2021; and that interest on the facility would revert to nine percent as from March 2021.

To access further details on the modalities, interested persons and institutions can logon Heritage Bank’s website (www.hbng.com).Please share… Sharing is caringWhatsAppFacebookTwitterSMSViberPlease Share… Sharing is caring0

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I Wont Reverse Minimum Wage Payment, But Heads Will Roll – El-Rufai

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El-rufai

The Governor of Kaduna state, Nasir El-Rufai has disclosed that his government has no intention to reverse the recommend minimum wage being paid civil servants in the state, he mentioned however, that workers would be sacked in view of the limited recourses available to the state.

 

The Governor made disclosure while informing newsmen in Kaduna, of the sack of 99 political appointees in his government.
He said the disengaged appointees constitute 30 percent of political office holders.

 

He said the state has started implementing its rightsizing policy but is yet to disengage any state civil servant.

 

 

The governor disclosed that only agencies connected to the local government system have disengaged staff and these include the 23 local government councils, SUBEB and the Primary Health Care Board.

 

“So far, 99 political appointees have lost their jobs but we have not commenced rightsizing civil servants. We want to be fair with regards to civil servants. We had earlier promised that before we reduce the size of the civil service, we will start with political appointees and we have done that,’’ he said.

 

The governor, who spoke in Hausa, said the rightsizing of civil servants will still go on as planned because of dwindling revenues that is accruing to the state government from the federation account.

 

‘’However, civil servants with question marks on the veracity of their data have to be given a chance to clear the doubts before any action is taken on them,’’ he clarified.

 

 

The governor said his government has employed 11,000 more workers in the health sector, Kaduna State University as well as primary and secondary schools across the state.

 

 

The governor disclosed that it is a fallacy to allege that the salaries of political appointees account for the bloated personnel cost of the State Government.

 

 

‘’In March 2021, the salaries of these political appointees amounted to N259 million , while civil servants were paid N3.13 billion, aside from costs related to state contributions to pension, accrued rights and other personnel costs. So, it is false to insinuate that political appointees are the ones that guzzle most of the state’s resources,’’ he said.

 

 

Justifying the rightsizing of the public service, he said that all states and the federal government are affected by the shortfall of revenue and some states have even reverted to paying the old monthly minimum wage of N18,000.

 

 

The governor, however, promised that Kaduna state will not reverse the N30,000 minimum wage that it has started paying.

 

 

“We are the first government, federal or state, to pay the minimum wage. We will retain the minimum wage of N30,000 and the consequential adjustments that gave most of our civil servants a 66% salary increase. We will also retain the minimum pension of N30,000 monthly.

 

“The unified Local Government Service continues to pay the minimum wage, even though they varied the consequential adjustments for their workers below the level for state civil servants,’’ he added.

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Ohanaeze, IPOB Rubbish Northern Group Over N100m Bounty On Nnamdi Kanu

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Ohanaeze

The Igbo socio-cultural organisation, Ohanaeze Ndigbo and the Indigenous People of Biafra (IPOB) on Friday hit back at the Northern Consensus Movement (NCM) which, on Thursday, declared IPOB leader, Nnamdi Kanu, wanted and offered a reward of N100m to anyone who can bring him to Nigeria.

 

 

Kanu had taken up residence in the United Kingdom after jumping bail in respect of treason charges filed against him in October 2015 by the federal government.

 

The NCM at a press conference in Abuja late Thursday blamed Kanu and the Eastern Security Network, which is suspected to be the militant arm of IPOB, for the recent attacks on Northerners in the Southeast.

 

 

Responding to the NCM’s statement, the Secretary-General of a faction of Ohanaeze, Mazi Okechukwu Isiguzoro, asked the northern groups to direct their efforts elsewhere.

 

 

He said their N100 million bounties should be placed on the successor of the slain Boko Haram leader, Abubakar Shekau.

 

 

He said: “We want to tell the groups being sponsored by some northern presidential aspirants to place the bounty on the new leader of Boko Haram terrorist group that has just emerged after the death of Shekau.

 

“Nnamdi Kanu has an address in London or in Germany where his headquarters of IPOB is. There is no need of searching for Kanu. He is not in Nigeria; he has an address in London as a British citizen.

 

 

“They should just use the N100 million bounties given to them by northern politicians, who are trying to destabilise the Southeast, to have easy root for the 2023 presidential ticket of major political parties in Nigeria, especially of the PDP.

 

 

“They should place the bounty on Shekau’s successor, who has no address, who is living in the forest, the terrorist group that took arms against the government for the last six years.

 

 

“They should not cry more than the bereaved; we will take care of the Southeast and ensure normalcy returns. As far as we are concerned, that bounty is inconsequential and political. It is not necessary, only a means to continue to heat up tension in the polity.”

 

 

Isiguzoro dismissed the NCM allegations of killing of Northerners in the Southeast, saying: “for the purpose of record and from the last time, there has not been any killing, except the accidental killing of Ahmed Gulak in Owerri.

 

 

“There has not been killing recorded anywhere in the Southeast about Northern people except some nefarious activities of unknown gunmen and killer Fulani herdsmen who have been attacking police stations and government facilities and killing both Igbo and indigenes from other parts of the country.”

 

 

Responding for IPOB, its spokesman, Emma Powerful, said the group would not dignify the northern groups with response because “they are inconsequential groups and they don’t know what we’re doing.”

 

 

He added: “claiming that they’re representing Arewa means they represent nobody.

 

 

“We pity them for challenging Mazi Nnamdi Kanu and IPOB because they don’t know what we are made of; they can rant from here to Arewa; we don’t know such groups before.

 

 

“They want people to hear their ranting so that people will know that they exist because people don’t know them.

 

 

“People that matter in the world are talking about Nnamdi Kanu, IPOB and Biafra. We are ahead of them all.”

 

 

During its Thursday press conference, NCM said it was declaring Nnamdi Kanu wanted for the continuation of criminal charges against him.

 

 

 

It is offering a reward of N100 million to anyone who can produce him in Nigeria for that purpose.

 

Kanu had taken up residence in the United Kingdom after jumping bail in respect of treason charges filed against him in October 2015 by the Federal Government of Nigeria.

 

The NCM blamed Kanu and the Eastern Security Network, which is suspected to be the militant arm of IPOB, for the recent attacks on Northerners in the Southeast.

 

It asked the United States of America, the United Kingdom and the European Union to ensure Kanu’s repatriation to Nigeria.

 

Dr. Awwal Aliyu, NCM spokesman, said members of the group took it upon themselves as active citizens of Nigeria to declare Nnamdi Kanu wanted for “crimes against humanity and for instigating the killing of innocent Northerners in the Southeast via his hate speech.”

 

Kanu, according to Aliyu, must answer for “the killing and destruction of Northerners residing and undertaking lawful businesses in the southeastern part of Nigeria.

 

He added: “So, we are placing a bounty of N100m as an offer to anyone who can produce him alive, hale, hearty, and uninjured to us for onward delivery to the security agencies for the continuation of his prosecution.”

 

He asked the US, the UK, and the EU, as champions of democracy, rule of law, and freedoms of speech and expression, to “kindly and humbly respect Nigeria’s sovereignty and facilitate the repatriation of Nnamdi Kanu to Nigeria so that he can face his treason, and possibly a fresh terrorism and genocide charges against innocent citizens of Nigeria.”

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Obasanjo Contributed To Nigeria’s Crisis, He Should Mind His Utterances –Femi Adesina

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Obasanjo

Special Adviser to the President on Media and Publicity, Femi Adesina, says former President Olusegun Obasanjo contributed to the current chaos in the country, adding that the ex-military general should mind his utterances.

 

He stated this on Friday in a piece titled, ‘Nigeria’s Unity And All The Iberiberism’.

 

 

Adesina wrote, “The sabre-rattling about Nigeria’s unity and the possibility of disintegration has got to the point of Iberiberism (a bastardised Igbo word which could mean stupidity). Some people have no other business than doomsday predictions of a crumbled, collapsed Nigeria, as if they actually fast and pray for that eventuality.

 

 

“When Chief Olusegun Obasanjo was President between 1999 and 2007, they predicted that he was going to be the last President of a united Nigeria. It didn’t happen. When Umaru Yar’Adua came, they said he was too sick to hold Nigeria together. The country stood.

 

 

“Under Goodluck Jonathan, they said the man was too weak, and different components of the country would soon say, ‘to your tents oh Israel.’ Nigeria survived. And for six years under Muhammadu Buhari, they have not changed their songs. The Somaliasation of Nigeria was on the way.

 

The Fulanisation of the country would be the final death knell. But Nigeria lives. It trudges on from day to day, month to month, and will surely survive.”

 

Adesina said though some people dwell on negativity, “some fathers of the land will not fold their hands and see Nigeria go down”.

 

“Fortunately, we have one of them as President now. The young Muhammadu Buhari spent 30 months in the frontlines as a young army officer, fighting the war of unity. And he has said it: we will not be around and watch Nigeria go down. Never. We will rather speak to insurrectionists in the language they understand.

 

“And what of Olusegun Obasanjo, a civil war hero. Despite all that he has contributed to the current upheavals by his actions and inactions, words and bile, he says it is idiotic to wish Nigeria disintegration now. Good. But let us put our money where our mouth is. Let Baba mind his thoughts, and his language,” the presidential spokesman added.

 

 

“Nigeria will survive. The polity will endure. And the component parts will live together in amity and brotherhood. Any other option is Iberiberism,” he concluded.

 

 

Obasanjo, a military head of state from February 1976 to September 1979, was Nigeria’s democratically elected president between May 1999 and May 2007.

 

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