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Commonwealth Meridian Deployed to Manage Public Debt Portfolio

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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

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Education Secretary calls on Islamiya schools to support the government in Yobe

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Education Secretary calls on Islamiya schools to support the government in Yobe

By: Yahaya Wakili

The Acting Education Secretary of the of the Nguru local education authority in Yobe state, Alh. Hamisu Ado Nguru, has urged the management committee of Ruhuddeen Islamiyya primary school, Nguru, to support the government in its quest to take education to all the nooks and crannies of the local government area.

Alhaji Hamisu Ado made the peal when the management committee of Ruhuddeen Islamiyya primary school, Nguru, paid him a courtesy visit at his office.

He promised to continue to carry every school along when the opportunity comes up.

Speaking earlier, the management committee leader, Khalifa Salisu Usman Fallatiya, said they were at the education secretary office to solicit for a more cordial working relationship with the local education authority.

He expressed their happiness at how their school was carried along on the scheme of things, unlike before.

“We wish and pray that the existing cordial working relationship will continue,” Khalifa Salisu said.

He pointed out that “we have witnessed changes in how things were done before; therefore, we are solely behind you and your management team.

Khalifa Salisu maintained that we are 100 percent in support of what the present administration is doing in the state.

“We are also grateful for the concern given to almost every school through their management team; we believed this was a good omen for everyone of us,” he added.

Education Secretary calls on Islamiya schools to support the government in Yobe

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FG should introduce price control across Nigeria, Gadodumasun Fika

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FG should introduce price control across Nigeria, Gadodumasun Fika

By: Yahaya Wakili

Former chairman of the National Road Transport Owners (NARTO), Potiskum local government chapter, Yobe state, Alhaji Abdullahi Garba Alele, and Gadodumasun Fika have called on the federal government to introduce price control in the country.

Alhaji Abdullahi Alele made the peal today in Damaturu while briefing the newsmen on the current hardships facing the people in the country.

He said that before, people were crying over the high price of dollars, but now dollars are down, and instead, businessmen are reducing the price of essential commodities.

Alele further calls on the businessmen to fear God in their minds, adding that whatever you do in the world, you must account for it before our creator, Allah (SWT).

He also urged the government to provide enough farm implements, such as fertilizer and seeds, among others. So people should participate actively in agricultural production for their sustainable means of livelihood.

“God blessed us with good land for farming, especially in the northern part of the country, and about 99 percent of the occupation of the people of Yobe State is farming.” Alele said.

FG should introduce price control across Nigeria, Gadodumasun Fika

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Violent extremism, terrorism, biggest threat to ECOWAS subregion —Commandant, Kofi Annan International Peacekeeping Training Centre

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Violent extremism, terrorism, biggest threat to ECOWAS subregion —Commandant, Kofi Annan International Peacekeeping Training Centre

By: Michael Mike

The Commandant, Kofi Annan International Peacekeeping Training Centre (KAIPTC), Maj. Gen. Richard Gyane has described violent extremism and terrorism (VET) as the biggest threat to the ECOWAS subregion, Africa and humanity.

Gyane stated this in Abuja during a chat with journalists during a mobile training course on women, youth, and VET, organized by KAIPTC on Wednesday.

The Commandant said that the security challenges in West Africa had informed KAIPTC’s decision to organize the capacity building for women and youth to build their resilience to tackle terrorism.

He said that the training, organized in collaboration with the Norwegian Government, would empower women and youth with the requisite knowledge about terrorists’ operations and build their resilience against VET threats.

Gyane said: “If you look at our subregion now, violent extremism is a big threat to us; If you look at the Sahel nations, most of these countries are virtually taken over by violent groups.

“If you look at Nigeria and the Boko Haram group, and the movement of these groups southwards, it is worrisome.

“Why are we particular about women and youth? They become vulnerable. These are the most vulnerable groups in our society, who are subject to radicalization by VETs.

“The aim is to engage these women and youth especially and let them understand the issues, the recruitment and all that about these groups who want to destroy our humanity within the subregion,” he said.

He noted that KAIPTC engages and empowers women and youth through its training programs because when people are empowered, it becomes difficult for VET groups, whose aim is to radicalize the people and take over their countries, to do so.

He however noted that no country could tackle VET alone, and stressed the need for collaboration among all stakeholders beyond the security space in order to curb VET’s surging scourge in West Africa and Africa at large.

Gyane said that, given the porous borders of ECOWAS countries, and the need for them to cooperate and share intelligence, ECOWAS member states should do everything possible to bring on board Mali, Burkina Faso and Niger, who are threatening to quit the bloc.

“It is not good for the subregion to have a divided front, and I think whatever we need to do to bring on board these countries, who want to separate themselves from the subregion, is very necessary.

“ECOWAS has done well in certain areas, especially the free movement of persons protocol and I think within the continent of Africa, ECOWAS has done so well.

“But I think we need to collaborate more beyond even the security space. I would want to see us one day using the same currency and all that.

“We should work more as one homogeneous subregion to ensure that people should be free to live and work wherever they are and do business.

“When we do that, it can help us to control violent extremism and terrorism,” Gyane added.

Violent extremism, terrorism, biggest threat to ECOWAS subregion —Commandant, Kofi Annan International Peacekeeping Training Centre

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