CBN and NNPC Accepts Funding of Accommodation and Feeding of Returnees
The Minister of Foreign Affairs ‘Geoffrey Onyeama’ on Monday May 18th , announced that the Central Bank of Nigeria (CBN) and Nigerian National Petroleum Corporation (NNPC) will take care of the hotel accommodation and feeding bills of Nigerians who were recently evacuated from countries they were stranded in.
It was reported earlier that the evacuees were directed by the federal government to pay N297,000 for their 14-day mandatory isolation.
Following the criticism which directive sparked off, Onyeama said he approached the Governor of the Central Bank of Nigeria and Group Managing Director of NNPC who both agreed to pick the bill.
He further revealed that the initial decision was taken due to paucity of funds even though they were not happy with it.
According to Onyema, on Friday night after getting all the barrage from around the world including saying that they were somehow conspiring with hotels to fleece Nigerians and make money for themselves and other form of accusation.
They continued never the less trying to find a way through—as rightfully said “two heads are better than one”. However, the honorable Minister of Environment, Dr. Mahmoud Abubakar suggested to Onyema to try NNPC and CBN since they have corporate social responsibility funding.
“I got in touch with Governor of the CBN and used as much persuasive channel as possible to get him over and told him I will do the same with GMD of NNPC and the Governor of the CBN, very generously and very kindly, agreed and said the amount that I was talking about was over N1 billion because we have over 4,000 Nigerians out there, and if over 3,000 or something of them come back the cost of accommodation and feeding and everything else is over a billion that we don’t have.” Said Onyema.
“He said he was ready to explore and share the cost with NNPC. I spoke to the GMD of NNPC and he said he was going to consult and we kept our fingers crossed.
“Thanks be to God, today he got back to me to say he was ready. he was going to meet up with the Governor of the CBN and together they would fund this portion. A very very important portion, the accommodation and feeding of evacuees. So we go forward in a better environment.”
The Central Bank of Nigeria and the Nigerian National Petroleum Corporation have agreed to fund the cost of quarantine, accommodation and feeding for returnee-Nigerians from foreign countries. The Minister of Foreign Affairs, Geoffrey Onyeama, disclosed this in Abuja yesterday at a briefing of the Presidential Task Force on COVID-19.
He said: “The governor of CBN, very generously and very kindly, agreed; he said the amount I was talking about, over N1bn because we have over 4,000 Nigerians out there… he said he was ready to explore and share the cost with NNPC. “And I spoke to the GMD of NNPC and he said he was going to consult. And thanks be to God, today, he got back to me to say he was ready, he was going to meet up with the CBN governor and together, they’ll fund this portion; a very important portion, the accommodation and feeding of evacuees”, the minister added.
The minister said the government ran out of funds and found itself in a situation where either it stopped evacuation for lack of funding or it passed the cost to the evacuees. He said the decision to seek support from the CBN and NNPC was taken in national interest
Wikipedia Lists Nigeria Among the “Failed States”
Wikipedia Lists Nigeria Among the “Failed States”
Web based encyclopedia – Wikipedia has updated its list of failed states and Nigeria is now one of the countries on the list.
The free web-based encyclopedia project which contains information on a wide variety of subjects, described a failed state as a political body that has disintegrated to a point where basic conditions and responsibilities of a sovereign government no longer function properly.
It further added that a state can also fail if the government loses its legitimacy even if it is performing its functions properly. For a stable state, it is necessary for the government to enjoy both effectiveness and legitimacy. Likewise, when a nation weakens and its standard of living declines, it introduces the possibility of total governmental collapse.
Some countries listed as a failed state include; Syria, Somalia, Myanmar, Nigeria, Iraq, Yemen, Turkey, Democratic Republic of Congo, Central African Republic, Rwanda, Liberia, Yugoslavia, Lebanon, Afghanistan, Sudan, South Sudan.
Tim Cook Officially becomes a Multi- Billionaire
Tim Cook, the Chief Executive Officer of multinational tech company – Apple, has joined the billionaires club as he officially becomes a billionaire.
Apple’s market value has been on the rise following strong results and the upbeat outlook for tech giants.
Mr Cook owns 847,969 shares directly and took home more than $125m (£96m) last year as part of his pay package.
Last week, Facebook founder Mark Zuckerberg saw his personal wealth hit $100bn (£76bn).
Technology companies including Apple, Facebook and Amazon have seen their profits grow during the coronavirus pandemic as more people went online.
Silicon-Valley based Apple is now closing in on the milestone of being the first company to be valued at $2tn. Two years ago it become the first company to be valued at $1tn.
Mr Cook took over from Apple founder Steve Jobs nine years ago. His billionaire status is based on the shares he owns and the compensation he has been paid at Apple, and calculated by the Bloomberg Billionaires Index.
In 2015, he said he planned to give most of his fortune away and has already donated million of dollars worth of Apple shares.
Facebook’s Zuckerberg has made a similar pledge to give away the majority of his shares.
Mr Zuckerberg, along with Amazon’s Jeff Bezos and Tesla’s Elon Musk, accrued their wealth from the huge stakes in the companies they founded.
In comparison, Mr Cook’s stake in Apple is minuscule at about 0.02%.
Based on US federal and state taxes for California, Mr Cook would face a tax rate of just over 50%, as a top-bracket earner.
While Apple has not revealed any new products as groundbreaking as its iPhone, the company has still thrived since Mr Cook took over the reins.
He has overseen the development of devices such as the iPhone X and Apple Watch, along with new services like Apple Music.
Domak Shelter Ltd. Partners with VIO, Offers 1000 Housing Units
DOMAK SHELTER LTD. PARTNERS WITH VIO, OFFERS 1000 HOUSING UNITS
A Leading real estate firm in Nigeria ‘Domak Shelter Ltd.’ is partnering with the Directorate of Road Services, Vehicle Inspection Office (VIO) to offer 1,000 Housing units to its Staff at Domak Garden City, Karshi.
Few days ago, Domak Shelter Ltd. launched the Face of Domak Project- a marketing competition platform through which all Domak products will be sold while the best marketer would be rewarded handsomely.
Interestingly, the Face of Domak project kick-started with 25,000 easy House ownership scheme and the marketers have already step up their games.
In line with this innovative project, the Management Team of Domak Shelter Ltd. ably led by the Chief Executive Officer ‘Amb. Kingsley Azonobi’ signed and sealed a Memorandum of Understanding (MoU) today, 4th August, 2020 at the VIO Headquarters, Mabushi with the Management team of the VIO Home & Welfare Staff Cooperative Society Ltd. to build 1,000 Housing Units for the staff of VIO.
This agreement was signed in the presence of the 9 members of the Face of Domak Board of Trustees, Management team of the VIO Home &Welfare Staff Cooperative Society Ltd. and the members of the press.
Bar. Felix Nnadi who is head of Consultancy Units of the Cooperative Society commended the leadership of Domak Shelter Ltd. for this innovative project and expressed his excitement about the signing of the MoU.
In his statement, He said the initiative came along with liberal terms which will mark a legacy in the life of the VIO officials. According to him, the approval for the signing of this MoU was obtained from the Head of National body of the Organization ‘Engr. Sir Paul Bebe’ as well as the excos of the Cooperative Society Nationwide.
Speaking on the August event, Usman Yahaya who is the Director of Administrations VIO made reference on a similar project with the former Minister of Federal Capital Territory Administration (FCTA) who is now the Governor of Kaduna State ‘Gov. Nasir El- rufai’ and how benefiting the project was to the civil servants at that time.
However, he urges Domak Shelter Ltd to make the Housing Scheme an affordable venture for the civil servants.
“The issue of Housing is very important in any civil servant life. When you come to look at it critically, after you must have served for 35-36 years then you retire and the pension is not forth coming. (Even the Housing, where to put your head is no longer there). Therefore, this forms a very important aspect of any civil servant life.” He said
“Coming up with this very exercise is a very nice one for the VIO. This will go along way to help the staff of VIO plan their retirement life” He added.
Mr. Mberi Yaro, the Vice chairman of the Directorate, Conference of Directors VIO stated his willingness for every VIO officers to participate in this opportunity. He therefore advised the both parties involved in the MoU to ensure commitment to this laudable project.
Responding, Amb. Kingsley Azonobi expressed his gratitude and commended the VIO management team for the partnership deed. In his statement, he assured them his commitment towards delivering affordable 1,000 housing units to their staff as well as real time monitoring technology ‘Project Watch’ which will enable all subscribers get the actual coordinates to their land.
Worthy of note, the legal adviser to the VIO ‘Bar. Udah’ a 33 years legal practitioner commended the efforts put together in the preparation of the Memorandum of Understanding (MoU). He therefore advised the both parties to honor the terms and conditions of the MoU.
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