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FCC commissioners accuse Chairman of ”selling jobs” in dollars

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Federal Character Commission (FCC

Some commissioners in the Federal Character Commission (FCC), have accused the chairman of the commission, Mrs Farida Dankaka of ”selling jobs” in dollars in Federal Ministries, Department and Agencies (MDAs) of Government.

The commissioners made the allegations during the House of Representatives Ad hoc committee investigating MDA and parastatal and Tertiary Institutions on employment racketeering in Abuja.

Some of the commissioners who made the allegations include: Mr Abdulrasaq Adeoye, FCC, commissioner, representing Osun, Mr James Dan’iya, representing Kwara.

Others are Abdulwasiu Bawa-Allah, representing Lagos State, Mr Moses Anaughe, representing Delta, Mr Mamman Alakayi, representing Nasarawa among others.

The commissioners also alleged that Dankaka connived with the Economic and Financial Crime Commission (EFCC) to stop petition written against her on job racketeering by the commissioners.

“We petitioned the EFCC to investigate her but to our dismay nothing has been done.

“Job seekers pay as low s N750, 000 and as high as N 7 million depending on the MDAs where the jobs are being sought.”
“The money from the various accounts are transferred into the main account in Access bank.

The commissioners alleged that the chairman often moved her son from one lucrative agencies to the other
In a sweift reaction to the barrage of allegations, Dankaka said, “when you fight corruption, corruption will fight back, ” adding that this is what is happening at the commission.

“I did not come to make money, but to serve my father land, what some of them are looking for is money, before I come here, I have made my money, some of them have their reasons for attacking me.

“For instance, Osun commissioners is always in my office, what they are accusing me of is not true, ” she said.

Dankaka said before she came into office in July 2020, all the commissioners were selling jobs, adding that her refusal to join the fray spurred their anger against her.

According to her, for instance, the commissioner representing, Osun bought a property and told the person that he will be paying with job slots.

This according to her necesitated her letters to MDAs that if they do not see her signature , they should not honour any letter from any commissioner.

The chairman said she refused their offered to compromise, adding that she would be the last person to sell job., adding that the commissioners were behind all the campaign of calumny in the media and on social media.

On the issue of EFCC, she said the agency wanted to employ personnel and got the approval, adding that at no time did she compromise.

Rep Gagdi Yusuf, the chairman of the committee however said that the committee would no be part of politics of any agencies, “we will do our job and justice will be done. “

He queried why document relating to the activities of the commission in terms of employment would be said to have been missing.

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Job Losses, Factory Closures Loom As Unsold Goods Pile Up — MAN

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AGAINST the backdrop of sustained pressure in the foreign exchange market and high cost of production, the Manufacturers Association of Nigeria, MAN has indicated that inventory of unsold goods is escalating to levels now threatening the existence of companies operating in the production sector of the economy with attendant job losses.

Findings show that as of the weekend the foreign exchange market had recorded over 254 per cent plunge in the value of the naira since flotation of the currency by the Central Bank of Nigeria (CBN) in June 2023.

Recall that the naira traded for N471 per dollar in the official I&E market on June 13, 2023 before the floatation of the currency, but exchanged for N1,665.50 to a dollar as at February 23, 2024 on the Nigerian Foreign Exchange Market (NAFEM), indicating a depreciation of more than 253.6 per cent over the eight-month period. The forex crisis is also stoking inflation, and coupled with high energy costs, purchasing power has continued plummet, stifling demand for goods.

Speaking on the impact of this development on the manufacturing sector, Director General, MAN, Segun Ajayi-Kadir, said: “There are reports that across the board, many warehouses and plants of many manufacturing firms are stockpiled with unsold goods manufactured last year. “The development is as a result of the devastating effects of the exchange rate crisis, inflation, fake and sub-standard goods, smuggling and other macro-economics challenges.”

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CBN Lifts Ban On BDCs, Introduces New Operational Mechanism

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In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

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