By Ifeanyi Nwoko
Abuja, Feb. 5, 2020 The Federal Government has disbursed N27 billion to Micro Small and Medium Enterprises (MSMEs) as part of the MSMEs Survival Fund Scheme.
Minister of State, Industry, Trade and Investment, Amb. Mariam Katagum, disclosed this on Thursday while briefing newsmen in Abuja.
Katagum said that government would also roll out the last two schemes that make up the Survival Fund.
She said that the Steering Committee for the Survival Fund would turn in its reports to the Ministry of Finance as well as await the second tranche of the fund.
Katagum, who is also the Chairperson, Steering Committee, MSME Survival Fund And Guaranteed Off-Take Schemes (GOS), said the existing schemes were progressing seamlessly.
Alex Enumah in Abuja
Justice Inyang Ekwo of the Abuja Division of the Federal High Court on Friday ratified the appointment of a liquidator for Process and Industrial Developments (Nigeria) Limited (P&ID Nigeria), a company registered in Nigeria.
The federal government, acting through the Economic and Financial Crimes Commission (EFCC), had appointed the liquidator to help trace and secure all assets and property of P&ID Nigeria, which the court earlier ordered to be forfeited to the Nigerian government after the firm’s conviction in a September 19, 2019 judgment.
While delivering ruling in an ex-parte application moved by the federal government’s lawyer, Mr Bala Sanga, Justice Ekwo made an order ratifying “the appointment of Messrs Christie Makar of Lexfield Chambers, Abuja, as the liquidator of P&ID Nigeria”.
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Leke Baiyewu, Abuja
THE House of Representatives Committee on Public Accounts has queried the duty waiver granted a Chinese company, China Harbour, valued at N5bn, to import construction materials.
The committee specifically expressed dissatisfaction that a Chinese firm was given such an opportunity despite the fact that Nigeria had multi-billion dollar loans to repay China.
Chairman of the committee, Wole Oke, spoke at an investigative hearing on Wednesday based on an audit query issued against the Nigeria Customs Service by the Office of the Auditor General of the Federation.
Oke condemned the complacency of the various regulatory agencies that approved such waivers allegedly in breach of due process and extant financial regulations, which he said had caused the country a huge loss of revenue.
By James Emejo
The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, Thursday said a total sum of N27 billion has so far been released for the implementation of the Survival Fund Scheme.
The fund was launched November 2020 alongside the Guaranteed Offtake Scheme (GOS), both targeted at assisting Micro Small and Medium Enterprises (MSMEs) to overcome the challenges posed by the COVID-19 pandemic.
The N75 billion project forms the core part of the N2.3 trillion Nigeria Economic Sustainability Plan (NESP) currently being implemented by the President Muhammadu Buhari-led administration to help cushion the impact of the pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities.