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ECOWAS Agree On $187m Capital Base For Regional Central Bank
ECOWAS Agree On $187m Capital Base For Regional Central Bank
By: Michael Mike
Member countries of the Economic Community of West African States (ECOWAS) have agreed to put forward $187 million as capital base for the proposed Central Bank of West Africa.
This would make fund available for infrastructure development and solid liquidity of the region.
The President of the ECOWAS Commission, Dr. Omar Alieu Touray disclosed this while presenting the status of the community at the ongoing First Ordinary Session of the ECOWAS Parliament in Abuja on Wednesday.
He said studies on the size and distribution of the capital and reserve pooling have been finalized, explaining however that ” the criteria for pooling reserve, the voting system and establishment of the solidarity and stabilization fund for ECOWAS are still in progress.”
Touray lamented that the region is still grappling with the negative effects of the COVID-19 pandemic in terms of macroeconomic convergence.
He said: “The performance in terms of macroeconomic convergence of the member states, the preliminary data from member States in 2022 showed negative impact of lingering effects of COVID-19 pandemic, the Russian-Ukraine war, which have put more pressure on member states performance in terms of macroeconomic convergence.”
He said the situation of the region deteriorated further in 2022 compared to 2021, adding that more work needs to be done towards meeting both the primary and secondary convergence criteria for the ECOWAS single currency.
He said that none of the member states met all the primary or secondary convergence criteria in 2022 same in 2021.
He disclosed that in response to the challenges facing the community, the commission has embarked on numerous activities and increased efforts towards Economic and Monetary Union and efforts to deploy the right infrastructure to address the deficits in the community as well as building bridges and the connectivity necessary for economic integration and improvement in the well-being of the people.
He revealed that other areas of interests where the commission has made great strides include; investment in human capital development in the community, humanitarian assistance to citizens who are victims of both man-made and natural disasters and promoting gender equality and youth empowerment.
ECOWAS Agree On $187m Capital Base For Regional Central Bank
KARAN Appeals for Support for the ministry of Livestock Development
By: Michael Mike
The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has appealed to President Bola Tinubu to urgently support the Ministry of Livestock Development in getting its office ready.
The association decried that nearly eight months after the establishment of this crucial ministry, the renovation of the permanent office allocated to it for its operations is yet to be started, noting that this delay has impeded the
implementation of essential policies and programmes aimed at promoting the livestock sector and its value chains across Nigeria.
KACRAN, in a statement on Saturday, signed by its National President, Hon. Khalil Bello said: “When the Ministry was established on July 9, 2024, we, Nigeria’s pastoralists, viewed it as a long-awaited answer to our prayers and a significant step towards addressing over 50 years of
neglect in the livestock sector.
“However, the lack of progress since then has been disheartening, preventing the Ministry from fulfilling its critical role in ensuring food security and contributing to
the national economy.
“Currently, the Ministry functions more as a Directorate of Animal Husbandry Services, lacking the resources and infrastructure necessary for it to operate independently and effectively.
“Despite the critical nature of its mission, the allocated office space/building remains unrenovated and a timeline for starting the renovation or completion has not been provided. This situation severely hampers the ability of the Honorable Minister, Permanent Secretary, Directors and staff to coordinate effectively and execute
their responsibilities.
“Moreover, the financial resources allocated to the Ministry for the 2025 fiscal year are
insufficient for the Ministry to achieve its objectives.
“KACRAN is deeply concerned that without immediate attention to these challenges, the foundational goals of the Ministry will remain unattainable. As the political landscape evolves, it is vital that the focus remains on policy timely implementation rather than allowing the future of this very important Ministry to be muddling through uncertainties.
“We urge President Bola Ahmed Tinubu to prioritize the renovation and operation of the Ministry’s office so that the Honourable Minister and staff can effectively promote and develop the livestock sector.
Additionally, we implore the President to invest significantly in the livestock
sector, for enabling the Ministry to actively engage in ensuring food security, enhancing the nation’s GDP, and reducing heavy reliance on imported milk and food products, which costs Nigeria billions of
dollars annually.
“Finally, KACRAN expresses gratitude to President Tinubu for appointing Professor Muhammadu Attahiru Jega as an Advisor on Presidential Livestock Reform Programmes. We hope that under his
guidance, the Ministry can achieve its goals and bring tangible benefits to Nigeria’s pastoralists and the wider population.”
KARAN Appeals for Support for the ministry of Livestock Development
Armed Robbers Kill Watchman, Injure Another in Katsina School Attack
By: Zagazola Makama
Armed robbers attacked Government Secondary School Yashe in Kusada Local Government Area of Katsina State, killing one night watchman and injuring another before escaping with a solar inverter.
Intelligence sources told Zagazola Makama that the attack occurred at about 5:00 a.m. when the hoodlums stormed the school and assaulted the security guards with machetes.
One of the watchmen, Abdullahi Sanusi, 50, died on the spot, while his colleague, Aliyu Ahmed, 65, sustained serious injuries and was rushed to Kankia General Hospital for treatment.
Armed Robbers Kill Watchman, Injure Another in Katsina School Attack
Police, Security Operatives Foil Kidnap Attempt in Kaduna EX LGA Chairmans home
By: Zagazola Makama
Security operatives in Kaduna have rescued a former Executive Chairman of Kaura Local Government Area, Seimon Matthias, from a kidnap attempt at his Kagoro residence.
Intelligence sources told Zagazola Makama that the attack occurred on February 14 at about 11:00 p.m. when an unspecified number of kidnappers stormed Matthias’ residence, shooting sporadically in an attempt to abduct him.
However, the sound of gunfire attracted the attention of police officers and other security operatives stationed nearby, leading to a fierce exchange of fire.
The assailants, overwhelmed by superior firepower, abandoned their victim and fled to the mountains.
Police said the victim was rescued unhurt, and a joint operation involving the Army and Kaduna Vigilante Service (KadVS) was ongoing to flush out the criminals from the surrounding bush areas.
Police, Security Operatives Foil Kidnap Attempt in Kaduna EX LGA Chairmans home
KARAN Appeals for Support for the ministry of Livestock Development
Armed Robbers Kill Watchman, Injure Another in Katsina School Attack
Police, Security Operatives Foil Kidnap Attempt in Kaduna EX LGA Chairmans home
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