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Commonwealth Meridian Deployed to Manage Public Debt Portfolio
Commonwealth Meridian Deployed to Manage Public Debt Portfolio
By: Michael Mike
A powerful software developed by the Commonwealth Secretariat is being deployed in Nigeria to transform how the country manages its public debt portfolio of US $114.35 billion while enhancing transparency.
A statement on Monday by the Commonwealth Secretariat, said at the request of the Government of Nigeria, the Commonwealth Secretariat hosted a two-week training workshop for 15 Nigerian debt managers at its headquarters in London this month.
The statement added that during the workshop, participants received hands-on training on getting their debt databases ready for seamless migration to the new software, known as Commonwealth Meridian, and learned essential skills for recording, analysing, and managing various types of debt using the advanced tool.
The Acting High Commissioner of Nigeria to the United Kingdom, Dr Cyprian Heen, according to the statement, opened the workshop on 5 February 2024 and described the software as a crucial tool for sound debt management practices in developing countries.
He highlighted the importance of monitoring debt liabilities to prevent escalating debt costs and risks, which hinder governments from spending on projects essential for sustainable development.
Heen said: “Meridian allows borrowers to record their debt accurately and comprehensively across the full range of debt management transactions and operations.
“In turn, this facilitates accurate and timely debt service payment to creditors while allowing governments to monitor their liabilities.”
Launched in 2019, Meridian replaces its predecessor, the Commonwealth Secretariat: Debt Recording and Management System (CS-DRMS), which has helped Nigeria manage its public debt since the 1990s.
The upgraded software gives managers access to real-time debt data to monitor liabilities and make informed decisions, while ensuring national financing needs are met in time and at an acceptable level of risk.
Speaking at the workshop, Senior Director of the Commonwealth Secretariat’s Economic, Youth and Sustainable Development Directorate, Dr Ruth Kattumuri, said Nigeria is the Commonwealth’s key partner in supporting Africa’s development.
She emphasised Nigeria’s catalytic role in driving growth and sustainable development across the continent, leveraging its abundant natural resources and human capital.
Kattumuri reiterated the Commonwealth’s full support for Nigeria’s development efforts, including through the deployment of essential tools, such as Meridian.
One of the training participants, Director of the Debt Recording and Settlement Department of Nigeria’s Debt Management Office, Maraizu Nwankwo,, welcomed the training initiative.
He said: “Meridian would help to address the challenges encountered by our debt officials in the use of CS-DRMS and support the Debt Management Office in meeting the increasing demand for public debt data in various forms by the stakeholders and users.”
The upgraded software is offered to Commonwealth countries as part of the Commonwealth’s debt management programme, which includes advocacy and policy advice on formulating debt management strategies.
Currently, the software is in use in 39 Commonwealth countries
Commonwealth Meridian Deployed to Manage Public Debt Portfolio
News
How cross-border smuggling increases Terrorism within the LCRBA
How cross-border smuggling increases Terrorism within the LCRBA
By: Zagazola Makama
The outlets and network of insurgency groups, invariably thrives on paddles of uninterrupted proliferation of smuggling of resources for survival. This is but the center of gravity of a more than a decade old insurgency campaign in the Northeast.
The network of proliferation and smuggling are tied to established strongholds, links and machinery of motions like couriers and spies who live by means to evade detection.
Despite means to curtail the nuisance, a persistent and sustained insecurity in the Lake Chad Basin is being threatened by exacerbated form of an intricate network of smuggling and illicit activities alongside funds and a strong ideological base that aids support to provide essential supplies to terrorist groups such as Boko Haram factions.
These networks, stretching across the Nigeria, Chad, Cameroon, Niger, the Sahel and greater SAHEL which have become disturbing, ugly and notorious lifeline for insurgency, enabling groups linked to global terrorist organisations to sustain their operations and pose significant threats to National Security always and to the wider regional stability.
Zagazola understands that smugglers transport food, fuel, arms, and even uniforms to insurgent camps through a carefully mapped routes. Observably to be precise in the heart of the extreme north of the Cameroons, villages like Bulgaram, Cikka, Guma, Maltam, Doron Liman, and Ramin Dorina serve as critical transit points for supplies destined for terrorist-controlled areas.
This maintains an uninterrupted supply to outlets in Marte, Gamboru Ngala, Bama, Dikwa Local Government Areas areas amongst others in Borno State as well established a hub for food supplies funneled from Cameroon’s the Darak village and also amongst others. These supplies are often moved under the cover of night, leveraging market activities in towns like Kinchendi to obscure the illicit trade.
Borno state is bordered by Chad, Niger and Cameroon. With Kukawa and Abadam local government areas of the state bordering Tchad-Abadam, Mobbar bordering Niger Republic and Gamboru, Kala Balge, Bama and Gwoza bordering Cameroon. The hinterland axis provided the route for easy movement of weapons to the terrorist cells in Nigeria as well as fuel supplies.
Equally, the waterways and island lands provide the strategic location to facilitates the group movements on flying boats to enable them reach the terrorists locations with ease. These activities have recorded increase in recent times due to the withdrawal of the MNJTF maritime operation contingent in Darak. Similarly, Fuel and arms smuggling are equally rampant, with supplies transported from Kaula village in Niger to Tumbum Jaki, a notorious insurgent stronghold.
Smugglers often use firewood sellers and livestock transported in trucks as cover, allowing insurgents to blend into local communities. In Nigeria, towns like Jakana, Minok, Banishaik, Babangida, and Gaidam in Yobe State, as well as Hadejia in Jigawa State, are key points for distributing smuggled goods, fuel and arms including motorcycles used by terrorists for mobility.
Beyond logistical support, the insurgents have established revenue-generation networks. These include taxing local smugglers and merchants in areas like Gegime, Niger Republic, and engaging in fish and livestock trading through towns like Hadejia, Jigawa State as well as the sale of livestock from the Lake Chad through MONGUNO town, going to other parts of the country. This income is funneled back into their operations, perpetuating the cycle of violence and instability.
ISWAP have also have maintained a logistical support base in Kano, where agents of Bereau de-Change and other collaborators received money on behalf of the insurgents to fund activities of the insurgents in the Lake Chad. Other networks are domiciled in Maiduguri, Borno capital.
Escape routes for terrorists and collaborators also highlight the sophistication of these networks. Using points in Niger Republic such as Gigeme, or Cameroon villages like Mokolo and Bulgaram, insurgents disguise themselves and infiltrate Nigerian towns, including Madagali, and Mubi in Adamawa State, and cities like Kano and Abuja, often starting new lives or regrouping for further attacks. In many cases, they are transported through trucks conveying livestock that is heading to other part of the country.
The scale of this smuggling underscores the urgent need for coordinated action. To dismantle these networks security agencies must enhance surveillance along identified smuggling routes in Nigeria, Cameroon, and Niger. Regional collaboration between Nigeria, Cameroon, and Niger is essential. Joint task forces and intelligence-sharing mechanisms can help track smugglers and cut off supply chains to terrorist groups.
The growing sophistication of smuggling networks in the Lake Chad region not only fuels terrorism but also undermines national security. A comprehensive and sustained effort is required to dismantle these operations and restore stability to the region. The time to act is now, before these illicit activities further entrench themselves as a permanent fixture of insecurity in the Sahel and beyond.
Zagazola Makama is a Counter Insurgency Expert and Security Analyst in the Lake Chad Region.
How cross-border smuggling increases Terrorism within the LCRBA
News
Bwala’s appointment: Tinubu has large heart, says Ndume
Bwala’s appointment: Tinubu has large heart, says Ndume
By: Our Reporter
Former majority leader of the Senate, Mohammed Ali Ndume, has commended President Bola Ahmed Tinubu for appointing Daniel Bwala as special adviser on public communications and media.
Ndume, who represents Borno South Senatorial District, a position that places him as Bwala’s Senator, noted that Tinubu has demonstrated that he is a leader with large heart through Bwala’s appointment.
Bwala served as the spokesman of the former Vice President Atiku Abubakar during the 2023 President election campaigns.
“I wish to commend President Bola Ahmed Tinubu for appointing Daniel Bwala as his special adviser to the President on public communication and media. This gesture deserves serious applause particularly in view of the roles played by Bwala in recent past.
“Bwala’s appointment is a rare demonstration of large heartedness in leadership, a quality that is difficult to find in many leaders today,” Ndume stated.
Recall that Bwala is among the recent persons appointed by President Tinubu to serve in the prestigious position of special Adviser to the President on public communication and media.
Ndume advice Bwala to seek forgiveness from the Vice President Kashim Shettima whose appointment made him to leave APC because he is a Muslim and work with him closely to as your second Principal to promote the renewed hope agenda of Mr President.
You should also learn from Sunday Dare and Ononuga who are long and loyal associates of Tinubu who always defend the policies of Mr President without being abusive and offensive.
You should also learn from the likes of Hadiza Bala and Nuhu Ribadu NSA who defend and market Tinubu’s policies backed by facts and figures.
Finally you should also link up with our people at the grassroots because charity begins from home.
Finally I wish you success in your new assignment.
Bwala’s appointment: Tinubu has large heart, says Ndume
News
DG of Great Green Wall, Borno State, Participates in COP29 Summit
DG of Great Green Wall, Borno State, Participates in COP29 Summit
By: Our Reporter
Amb. Usman Aliyu, the Director General of the Borno State Agency for the Great Green Wall, is representing Nigeria at the 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan.
His selection to join the Nigerian negotiation team highlights his exceptional contributions to climate action, following his distinguished performance during a UNFCCC-EU training in Abuja, which earned him sponsorship from the European Union.
Amb. Aliyu’s participation underscores the commitment of Governor Babagana Umara Zulum’s administration to combating climate change and fostering sustainable development. His efforts focus on climate finance, large-scale reforestation, and enhancing the resilience of vulnerable communities, which are critical to addressing environmental challenges in Borno State and beyond.
“Representing Nigeria at COP29 is an opportunity to advocate for practical solutions to the pressing climate challenges facing our region,” said Amb. Usman Aliyu.
This involvement positions Borno State as a leader in integrating local initiatives with global climate goals, promoting long-term sustainability and resilience for its communities.
DG of Great Green Wall, Borno State, Participates in COP29 Summit
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