Abuja, Jan. 25, 2021 A financial expert, Mr Okechukwu Unegbu, has urged Nigerians in diaspora to make remittances to relatives in dollars and other foreign currencies to preserve Nigeria’s foreign reserves.
Unegbu, a past president of Chattered Institute of Bankers of Nigeria (CIBN), gave the advice in an interview with newsmen on Monday in Abuja.
He also called on commercial banks to comply with the Central Bank of Nigeria (CBN) directive to always pay such remittances to their beneficiaries in foreign currencies.
Unegbu said that defaulting banks could be sanctioned to serve as deterrent.
“Remittances from abroad, if paid in dollars, pounds sterling or other foreign currencies will bring some gains in terms of exchange rate differentials.
Unclaimed dividends, dormant bank accounts and FG’s quest for improved revenue
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President Muhammadu Buhari signed 2021 N13.588 trillion Appropriation and 2020 Finance Bills into law, saying the government deliberately chose to pursue an expansionary fiscal policy to accelerate the economic recovery process, promote social inclusion, and strengthen economic resilience.
He said that the government was intensifying domestic revenue mobilisation efforts so that adequate resources can be realised to fund the budget.
“Revenue-generating agencies, and indeed all ministries, departments, and government-owned enterprises, must work very hard to achieve their revenue targets, control their cost-to-revenue ratios, as well as ensure prompt and full remittances,’’ he said.
FG offers former N-Power beneficiaries exit strategies
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Beneficiaries of the N-Power initiative who have concluded the two-year job programme will now be able to access permanent job opportunities or business prospects in line with the N-power exit strategy now activated by the Muhammadu Buhari administration.
Under the plan, 200,000 beneficiaries will be engaged as financial services operators under a Shared Agent Network Expansion Facility (SANEF) scheme operated by the Central Bank of Nigeria.
Another 30,000 have already been engaged as geospatial experts and enumerators in the Economic Sustainability Plan’s Mass Agric programme while several others will have the option of benefiting from the GEEP micro-enterprise loans.
N-Power beneficiaries who have concluded the two-year job programme will now be able to access permanent job opportunities or business prospects in line with the N-power exit strategy, the Nigerian presidency has announced. Under the plan, 200,000 beneficiaries will be engaged as financial services operators under a Shared Agent Network Expansion Facility (SANEF) scheme operated by the Central Bank of Nigeria; over 30,000 have already been engaged as geospatial experts and enumerators in the Economic Sustainability Plan’s Mass Agric programme, while several others will have the option of benefiting from the GEEP micro-enterprise loans, a statement details.
A platform known as N-exit portal has been opened to collate and process beneficiaries’ information in line with government’s exit strategy.