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FG, development partners strengthen social registry to address poverty

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The Federal Government says it is working closely with development partners to strengthen the National Social Registry (NSR) to make it serve as a single database for poverty reduction interventions.

 

It said such interventions would be made by all stakeholders in policy and programme design.

 

Sen. George Akume, Secretary to the Government of the Federation (SGF), stated this in Abuja on Tuesday, during a policy dialogue on Nigeria’s poverty and vulnerability profile.

Akume was represented at the event by Mrs Esuabana Asanya, the Permanent Secretary, Political and Economic Affairs, SGF’s office.

He explained that the move was to ensure that the social register reflects the true poverty and vulnerability profile in Nigeria that would support effective targeting of interventions.

The secretary to the government of the federation pointed out that poverty and vulnerability remain pressing challenges in the country, saying that the advent of the Coronavirus has aggravated the problem.

He said current data indicated that 63 per cent of Nigeria’s population “is multi-dimensionally poor”, of which about 70 per cent constituted children.

The SGF also said that Nigeria’s social inequalities further exacerbate the situation, as access to essential resources such as food, education, healthcare, and infrastructure was unevenly distributed.

“Women, children, and persons with disabilities are among the most vulnerable groups facing poverty, ill-health, and economic shocks.

“This setback emphasizes the urgency to strengthen our efforts in mitigating these issues and improving the lives of millions of Nigerians,” he said.

He said that the dialogue was organised by the Social Protection Development Partners group, in partnership with the Federal Government to find ways to address the challenge.

Akume said the primary objective was to develop a common understanding of poverty and vulnerability in Nigeria and identify key indicators for measuring them, adding that the meeting was also to devise strategies that would strengthen the registry.

“At the end of the meeting, we will develop a shared understanding of poverty and vulnerability in Nigeria among all relevant stakeholders, including government officials, civil society organisations, and development partners.

“This common understanding will pave the way for more coordinated and efficient policy design and programme implementation.

“The meeting will equally help us to identify key indicators for measuring poverty and vulnerability in Nigeria and how to align them with a nationally agreed measure.

“By establishing these indicators, we will enhance our ability to accurately assess poverty levels and progress over time that will lead to better-informed decision-making processes,” the SGF said.

He expressed optimism that the stakeholders would establish a comprehensive framework that accommodates various dimensions of poverty and vulnerability in Nigeria.

This, according to him, will arm the government and stakeholders with the knowledge and strategic approach to design and implement effective poverty reduction and social protection policies and programmes.

“This is particularly crucial in our efforts to collectively address the critical development issues of poverty and vulnerability in Nigeria, with a particular focus on the most vulnerable populations,” he said.

Dr Nasir Sani-Gwarzo, Permanent Secretary, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, noted that understanding the nature and extent of poverty was vital in developing targeted interventions and strategies.

Sani-Gwarzo said that the registry captures community profiling, to establish paucity of social infrastructure and its interconnectedness with poverty and issues of access to social assistance.

“The NSR is the foundational database for the poor and vulnerable in Nigeria, and this is the first time we have developed such a valuable system.

“In the past few days, this database has come into sharp focus.

“The outcome of the workshop will provide valuable insights as to the ways to strengthen what we already have,” he said.

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EFCC bars dollar transactions, orders embassies to charge in naira

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The Economic and Financial Crimes Commission has barred foreign missions based in Nigeria from transacting in foreign currencies and mandated them to use Naira in their financial businesses.

 

The EFCC has also mandated Nigerian foreign missions domiciled abroad to accept Naira in their financial businesses.

 

The anti-graft agency said the move is to tackle the dollarisation of the Nigerian economy and the degradation of the naira

The Commission, therefore, asked the government to stop foreign missions in Nigeria from charging visa and other consular services in foreign denominations.

The EFCC gave the advisory in a letter to the Minister of Foreign Affairs, Amb. Yusuf Tuggar, for onward transmission to all foreign missions in the country.

In the letter, the EFCC said it issued the advisory because the practice of paying for consular services in dollars was in conflict with extant laws and financial regulations in Nigeria.

In a letter dated April 5, 2024, which was addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled: “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” the EFCC Chairman, Ola Olukoyede expressed dismay over the invoicing of consular services in Nigeria by foreign missions in dollars.

The EFCC cited Section 20(1) of the Central Bank of Nigeria Act, 2007, which makes currencies issued by the apex bank the only legal tender in Nigeria.

The letter read, “I present to you the compliments of the Economic and Financial Crimes Commission, and wish to notify you about the commission’s observation, with dismay, regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in United States dollar ($).

“It states that ‘the currency notes issued by the Bank shall be the legal tender in Nigeria on their face value for the payment of any amount’.

“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is, therefore, illegal.”

The commission further stated that the rejection of the naira for consular services in Nigeria by certain missions, along with non-compliance with foreign exchange regulations in determining service costs, is not just unlawful but also undermines the nation’s sovereignty embodied in its official currency.

The letter continues: “This trend can no longer be tolerated, especially in a volatile economic environment where the country’s macroeconomic policies are constantly under attack by all manner of state and non-state actors.

“In light of the above, you may wish to convey the commission’s displeasure to all missions in Nigeria and restate Nigeria’s desire for their operations not to conflict with extant laws and regulations in the country.”

Diplomatic sources said yesterday, May 10, that some embassies were wondering whether the EFCC’s advisory represented the position of the Federal Government.

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Suspend cybersecurity levy– Reps to CBN

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House of Reps

The House of Representatives on Thursday asked the Central Bank of Nigeria to withdraw the circular directing all banks to commence charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country, The Nation reports.

 

The motion on the urgent need to halt and modify the implementation of the cybersecurity levy was moved by the member representing the Obio/Akpor Constituency, Kingsley Chinda.

 

The House urged the CBN to withdraw the circular and “issue a more understandable one,” as Chinda had drawn the attention of the House to multiple interpretations of the CBN directive against the specifications in the Cybersecurity Act.

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