Business and Economy
$311 Million Recovered Abacha Loot: Nigerians WillI Hold Your Administration to Account – Social Action Tells Buhari
A Non-governmental Organisation(NGO), Social Action Nigeria has said the recently recovered three hundred and eleven million dollars loot of the former Nigeria’s military dictator, General Sani Abacha by the Nigeria government headed by President Muhammadu Buhari, is yet one of the key points upon which the present administration in the country will be assessed in terms of transparent and accountable use.
It said, the era and practice of frittering away Nigerians’ common patrimony through contrived and bogus means was over as citizens would keep close track on the returned funds and insist on justified and transparent use.
According to the Head, Social Action, Nigeria, Vivian Bellonwu-Okafor, “apart from the accountability demands of the citizens, and the gaping need for the resources by the country, it is instructive to note that even the sovereign entities that returned the money to us have warned that Nigeria will refund the money if it fails to keep to the terms of the repatriation agreement, that is, using it judiciously for what it was meant for.
“And so it was from all angles, pertinent on the federal government to ensure it does not go the ignoble way of many of the country’s recovered assets and resources, which till date cannot be properly accounted for”.
Bellonwu-Okafor further stated that coming at a time as this, when the country is grappling with the challenge of the COVID-19 pandemic and the multi-faceted socio-economic challenges, arising therefrom, including with global dynamics of same, a conscious effort must be made by government to bring development to critical sectors of the economy including the health sector, of which the COVID-19 pandemic has exposed the inherent weakness in the sector and the dire need for critical intervention to re-position it to play its vital role in the polity, as well as bring discernible improvement to the lots of the Nigerian masses, who has been the victims of orchestrated corruption and looting of the nation’s resources over the years.
“The federal government must ensure prudent utilization of this fund. To this end, it must be applied to specific projects that Nigerians can see and benefit from. This is against its touting of being used to finance the budget. Such amorphous nature of deployment is what engulfs resources in intractable non-clarity and ultimately end in pillaging. The government must, therefore, publish list of specific projects it intends to utilize the fund on and with concrete timelines for its implementation.
It is noteworthy, however, the pledge Attorney General of the Federation and Minister of Justice, Abubakar Malami, that the Federal Government would ensure the transparent use of the returned assets. It is, therefore, our hope that the authorities concerned, would follow through on this commitment towards ensuring that the purposed intendment of the return of the funds was not lost on both the country and its citizens.”, the statement concluded.
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- Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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Business and Economy
Kogi GOBO Initiative Empowers Petty Traders in Kabba Central Market, Reinforces Support for Governor Ododo
By Abah Benjamin Eneojoh
The Kogi Forum of Senior Special Assistants (KFSSA) and leaders of the Governor Ododo Business Outreach (GOBO) today 22-11-2024 visited Kabba Central Market to empower local traders and engage community leaders.
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Led by Hon. Yahaya Shehu Ahmed, Chairman and Director General of GOBO, the delegation began their activities with a courtesy visit to the palace of His Royal Majesty, Oba Solomon Dele Owoniyi. The traditional ruler commended the initiative and the foresight of Governor Ahmed Usman Ododo in appointing competent individuals dedicated to improving the lives of citizens.
The team then visited the official residence of the Executive Chairman of Kabba-Bunu Local Government Area, Hon. (Barr.) Zacchaeus Dare Michael. He expressed his appreciation for the efforts of KFSSA and GOBO, noting that the outreach was a commendable step toward bridging the gap between government appointees and the grassroots.
At Kabba Central Market, the GOBO team provided direct financial support to 20 petty traders, including sellers of berneseed, tomatoes, and roasted plantains. Each beneficiary received 50,000 naira to expand their businesses. The gesture aimed to improve the economic situation of the traders and inspire confidence in the government’s dedication to addressing the needs of ordinary citizens.
The initiative also included plans to monitor the progress of the beneficiaries, ensuring that the financial assistance achieves its intended purpose. Hon. Femi Esemikose and Hon. Augustine Egbebi were tasked with following up on the traders’ activities.
The success of the Kabba-Bunu outreach is expected to serve as a model for similar initiatives in other parts of Kogi West Senatorial District and the state. As the GOBO program continues to expand, more communities will benefit from its efforts to empower individuals and enhance economic development.
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Business and Economy
Naira appreciates N28.85 against dollar at official market
The Naira on Thursday, November 21st, 2024 appreciated at the official market trading at N1,658.67 against the dollar.
Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N28.
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This represents a 1.7 per cent gain, compared to the previous trading date on Wednesday when it exchanged at N1,687.52 to a dollar.
However, the total daily turnover reduced to 163.66 million dollars on Thursday, down from to 173.29 million dollars recorded on Wednesday.
At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,707.50 and N1,631.00 against the dollar.
Source: NAN
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Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
By Abah Benjamin Eneojoh
The Executive Governor of Kogi State, His Excellency Alh Ahmed Usman Ododo has thrown his weight behind the Governor Ododo Business Outreach (GOBO) initiative, a program aimed at uplifting marginalized groups and providing economic opportunities at the community level.
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During a strategic meeting with the Kogi State Forum of Senior Special Assistants in his office on 06-11-2024, the Governor expressed his support for GOBO, which aligns with his vision of inclusive governance.
Launched on October 31, 2024, GOBO has already shown positive impact, with increased visibility and support among petty traders and small businesses. The initiative provides sustainable business avenues for those previously lacking access to financial resources and market opportunities.
Hon. Yahaya Shehu Ahmed, Chairman of the Kogi State Forum of Senior Special Assistants, thanked the Governor for his encouragement and support.
The Governor commended the forum’s dedication to GOBO and its commitment to improving citizens’ quality of life, assuring continued support and encouraging ways to deepen GOBO’s impact across the state.
The forum also presented an award of excellence to former Governor Alhaji Yahaya Adoza Bello, recognizing his contributions to the state’s growth and effective governance , particularly the choice of Gov Ododo and his Deputy.
This development is consistent with research highlighting the importance of government support for entrepreneurship development in Kogi State.
Shehu noted that Small and medium-scale enterprises have significantly contributed to the state’s economic growth, stressing that the GOBO initiative demonstrates the power of grassroots-driven solutions and inclusive growth, marking a step towards sustainable development in Kogi State.
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