National News

EU, British Council Build CSOs Compliance to Regulatory Frameworks

Published

3 years ago

April 25, 2022

News Net Global

EU, British Council Build CSOs Compliance to Regulatory Frameworks

By: Michael Mike

The European Union and the British Council are building compliance of Civil Society Organisations (CSOs) in the country on regulatory frameworks.

Speaking at a workshop organized in Abuja to build the compliance of CSOs on regulatory frameworks, the Component 2 Manager of the European Union Agent for Citizen-driven Transformation (EU-ACT), Idem Udoekong, said the training which is beginning with CSOs/Networks/CBOs in the FCT (Abuja), would be extended to Lagos, Sokoto, Kano, Rivers, Edo, Adamawa, Enugu, Plateau and Borno States.

He noted that it would be extended to all states in the country through partners and higher institutions.

Udoekong while revealing that the training is sponsored by the European Union and British Council, noted that the issue of poor compliance of Civil Society Organisations (CSOs) on regulatory framework is attributable to lack of the requisite knowledge and information on regulations.

He noted that: “The issue of poor compliance of CSOs to existing civil society regulations can be attributed to so many factors including CSOs lack of the requisite knowledge and information about these regulations and how to go about such compliance. This assertion was reinforced by the outcome of the survey conducted by EU-ACT programme in March 2021 to establish the current levels of compliance with legal frameworks amongst its supported CSOs/Networks/CBOs in the FCT (Abuja), Lagos, Sokoto, Kano, Rivers, Edo, Adamawa, Enugu, Plateau and Borno States.

“The survey findings, for instance, indicated that out of the 119 CSOs’ responses that were processed, less than a third of the CSOs were compliant with the CAMA law, less than 10% of the CSOs were fully tax compliant and only 14% of the CSOs were SCUML compliant. And yet, compliance to regulatory frameworks is paramount to sustaining and strengthening civil society organisations.”

He said: “It was on this note that the Programme is organising trainings for its partner CSOs/Networks/CBOs across the aforementioned 10 focal states to improve CSOs’ awareness of the important regulations (CAMA, Taxation, Anti-Terrorism and Money Laundering, and Pension) and how they affect their operation; capacitate them on how to become effective in their compliance obligation to these regulations; as well as improve their compliance to them.”

He said working in partnership with relevant regulatory agencies, Corporate Affairs Commission (CAC), Federal Inland Revenues Service (FIRS), Special Control Unit Against Money Laundering (SCUML) and Pension Commission (PenCom), the training would enable EU-ACT CSO partners to gain in depth knowledge of the requirement of the laws/regulations as well as receive continuous guidance on how to effectively and efficiently meet these requirements, noting that: “Representatives of these regulatory agencies would participate (in-person) in the trainings to provide technical inputs as well as address any compliance issues participant organisations might have.”

Udoekong, while noting that compliant to regulatory framework is paramount to sustaining and strengthening CSOs and keep them out of trouble, said: “This help to sustain the organisation as if you do not comply with the law, it may create room for abuse of the system, so regulations helps credibility in organisation as they always advocate for change and reform. They also need to be credible enough to fight the cause as research shows low compliance of CSOs to regulations.

Also Read: Group tasks Govt. on women empowerment for economic growth

“This low compliance is because they do not understand what they have to do. For example filing annual returns for companies in allied matters act. We expect them to have better knowledge of the law and comply the more, we want to see the level of compliance go up as a result of this training, which will be ten rounds of training around marked states, then the states networks.”

The lead resource person at the training, Prof. Adedeji Adekunle in his address reiterated that compliance to regulation is knowledge-driven, noting that sometimes organisations do not know what to do at times and people are scared of meeting regulations which sometimes indicate they have something to hide.

He said: “These regulations if not adhered to have penalties.”

On his part, the Special Assistant to the Registrar General/CEO, Corporate Affairs Commission (CAC), Terver Ayua-Jor stated the need to deepen the knowledge on compliance and how it will benefit the regulator and those who are regulated.

Ayuba-Tor while noting that though so far the compliance level is encouraging, admitted that more education need to be done.

He said: “Some of these CSOs are not shying from compliance but sometime they have issues on how the best can be achieved so the office of the CAC is here to through more light on how it can be done in a seamless manner. Registration is a two way traffic, we expect that entities should comply with requirements of the registration as this is the way the commission can regulate CSO.”

One of the participants,James Ugochukwu of African Centre for Enterprenuership Information and Development, said the CSOs complement activities of the government, but lamented that over regulation of the space will be shutting the door to more person engaging in civil activities.

He said: “Persons come into CSOs to help solve a concern that people suffer. What we expect the government to do is to make the space safer for more persons to engage not to create stringent laws, like these laws are shrinking the CSOs space, these laws most times do not work positively. They are over regulating the activities of the CSOs.”

EU, British Council Build CSOs Compliance to Regulatory Frameworks

National News

Ogidigben $20 billion Gas Project: Nigeria Receives Investment Commitment from Chinese Firm

Published

7 hours ago

January 22, 2025

Ochuwa Ibrahim

Ogidigben $20 billion Gas Project: Nigeria Receives Investment Commitment from Chinese Firm

By: Michael Mike

The federal government has received a commitment from a Chinese firm, China National Chemical Engineering International Corporation Ltd (CNCEC), to support the development of the $20 billion Ogidigben Gas Project in partnership with Nigerian stakeholders in a restructured funding partnership.

The commitment was given to the Director-General of the Nigeria-China Strategic Partnership (NCSP) Joseph Tegbe who is presently leading a team to China to market Nigeria and its opportunities for investment.

A press statement on Monday read that Tegbe held strategic sessions with renowned Economist and former World Bank Director Prof Justin Lin Yifu, who pledged support for the NCSP office in areas of policy implementation, reforms, and attraction of Chinese investments.

The Director General delegation was also hosted by China National Chemical Engineering International Corporation Ltd (CNCEC), whose President Li Zhenyi, expressed his company’s commitment to contributing to Nigeria’s economic growth through construction and industrialization specifically their strong desire to support the development of the $20 billion Ogidigben Gas Project in partnership with other Nigerian stakeholders in a restructured funding partnership.

The Director-General acknowledged CNCEC’s technical capabilities and their previous accomplishments; and also reiterated the bold and audacious support of President Bola Tinubu on the major developmental projects across Nigeria as national priority to fast track the nation’s industrialization.

Tegbe’s visit to China was as part of the Forum on China-Africa Cooperation (FOCAC) projects coordination, and investment drive, and he has continued to have strategic engagement with key Chinese stakeholders to deepen the bilateral cooperation. The visit aimed to review priority FOCAC projects, explore innovative funding options, and attract major Chinese investments into Nigeria.

In Beijing, the Director-General met with representatives from China EXIM Bank and China Development Bank to discuss accelerated delivery of priority projects. The delegation also visited the China Communications Construction Company (CCCC) Headquarters, where they toured a 2.5 million eggs-per-day production poultry farm, a visit to the firm aimed at assessing the feasibility of replicating similar projects in Nigeria using innovative funding models, such as the part contractor-financed, BOT, among others as recently adopted in other China financed projects.

During the visit, the delegation moved to Xinjiang where they visited TBEA, the number 1 electricity corporation in China and leading power transmission enterprise. They discussed status of their project and explored investment options and opportunities in mini and microgrid solutions to enhance Nigeria’s power sector.

The delegation’s next stop was at Shanghai where they made a courtesy call to the Nigeria Consulate in Shanghai, engaging in productive discussions about trade and investment opportunities in the region. These conversations focused on facilitating growth in key areas and exploring ways to enhance cooperation between the Consulate’s trade mission and the Director-General’s office.

The delegation thereafter visited the impressive Yangshan Deep-Water Port, also known as Shanghai Port. This massive port is currently the largest in the world, was constructed by China Harbor Engineering company, who also constructed the Lekki Deep Sea Port in Nigeria. The port
boasts an incredible capacity of 51 million twenty-foot equivalent units (TEUs). During their visit, the delegation had the opportunity to cross the remarkable 35-kilometre bridge, specifically designed for the evacuation of men and materials from the port. This bridge is a testament to China’s impressive engineering capabilities.

According to the statement, before leaving China, the delegation is expected to engage key players in Chinese economy in Shenzhen, and Guangzhou to facilitate and fast-track FOCAC project implementation through familiarization and feedback sessions with the relevant participating companies.

The statement added that “the ongoing visit is part of the Nigeria-China Strategic Partnership’s efforts to strengthen bilateral relations and promote economic cooperation between the two nations, an initiative that aligns with President Bola Tinubu’s vision for Nigeria’s economic growth and development, particularly in areas such as infrastructurb development, technology transfer, and job creation.

Ogidigben $20 billion Gas Project: Nigeria Receives Investment Commitment from Chinese Firm

National News

AT 2025 WEF, VP Shettima Markets Nigeria, Africa As Investment Destination

Published

9 hours ago

January 22, 2025

Ochuwa Ibrahim

AT 2025 WEF, VP Shettima Markets Nigeria, Africa As Investment Destination

** Says Africa Has Indeed Woken Up

By: Our Reporter

Vice President Kashim Shettima has said serious investors can now take unfettered advantage of Nigeria’s growing investment climate to tap from the limitless opportunities in the country and the African continent.

VP Shettima spoke on Tuesday during a forum titled, “Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets,” at the ongoing annual meeting of the 2025 World Economic Forum ( WEF) in Davos, Switzerland.

At the session which was co-chaired by Mirek Dusek, Managing Director of World Economic Forum, and chaired by Marie-Laure Akin Olugbade, Senior Vice President, African Development Bank (AFDB) group, discussions focused on the Humanitarian and Resilience Investing Roadmap for Africa.

He told the forum that the tales they hear about the country and the African continent as a whole are really not that of doom and gloom as being painted by doomsday proponents.

The Vice President noted that Nigeria is poised to invade the global business platform with modernisation and robust investments, assuring that President Bola Ahmed Tinubu, a seasoned chartered accountant, is working to make the nation an investment destination in Africa.

“For 20 years, I have been in the Nigerian banking industry. I was a general manager in Nigeria’s largest bank, Zenith Bank. I grew up in that ecosystem. The President himself is a seasoned chartered accountant. So, I believe that Nigeria is ready for business, Nigeria is ready to embrace the path of modernization with very robust investment,” he declared.

Acknowledging however that the nation may still have certain deficits, VP Shettima pointed out that Nigeria is looking up to the African Continental Free Trade Area (AfCFTA) to address the challenges.

He stated: “We are having a huge deficit but we are looking forward to the AfCFTA and that involves investing in infrastructure for instance the coastal highway from Calabar to Lagos is the largest single investment in Africa. We are building corridors to the North.

“We have the West African gas pipeline. We are thinking ahead of time akin to the Belt and Road Initiative. We are partnering with 14 African countries to invest in gas infrastructure down to Morocco.”

Senator Shettima insisted that Africa is not all about tales of doom and gloom, maintaining that the continent has woken up from its slumber.

Likening Napoleon Bonaparte’s opinion about China to the case of Africa, the VP said, “So, Your Excellencies, ladies and gentlemen, the stories you hear about Africa are not that of doom and gloom. From DRC to Somalia, South Africa, Egypt, Ethiopia, Ghana, and Cote d’Ivoire, Africa is waking up from its slumber.

“I remember what Napoleon Bonaparte said about China, he said “China is a sleeping giant but when she wakes up, she will rattle the world”. So, Africa has woken up and we will take our rightful place in the comity of nations because as I said earlier, the trajectory of global growth is facing Africa. We are the youngest continent.”

Also drawing a leaf from the late Nigerian head of state, Gen. Murtala Mohammed, VP Shettima said Africa has come of age and can no longer be treated like an adolescent.

“I want to quote Murtala Mohammed – a Nigerian military leader at an extraordinary summit of the OAU, about 50 years ago. He said “Africa has come of age, it is no longer under the orbit of any extra-continental power, and it shall no longer take orders from any country, however powerful,” he concluded.

Meanwhile, in a show of African leadership collaboration at the World Economic Forum in Davos, Nigeria’s Vice President, Senator Shettima, on Tuesday joined South African President, Cyril Ramaphosa, as special guest of honor at a high-level briefing, following his earlier participation in the Africa Investment Forum.

….VP Shettima, Botswana’s President Hold Talks

Meet WTO DG, Okonjo – Iweala

Similarly, Vice President Kashim Shettima and the President of Botswana, Duma Boko, on Tuesday held a bilateral meeting where areas of mutual interest between both countries were discussed.

The meeting, which took place on the sidelines of the World Economic Forum 2025 in Davos, Switzerland, is part of Nigeria’s commitment to fostering stronger intra-African relations and economic cooperation.

Both leaders emphasized the importance of leveraging their countries’ strengths to promote mutual growth and development.

The Vice President, who congratulated President Duma Boko on his election victory, called for deeper partnerships and collaborations between African nations, saying it is time Africa united and presented a common front on interests regarding the continent.

During the meeting, Vice President Shettima welcomed the Director General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, introducing her to the Botswana President.

The Vice President commended Dr. Okonjo-Iweala’s exceptional achievements, describing her as one of Africa’s finest.

Other areas of interest discussed between the two leaders included trade, investment and strengthening of diplomatic ties.

AT 2025 WEF, VP Shettima Markets Nigeria, Africa As Investment Destination

National News

Niger Tanker Explosion: VP Shettima Expresses Dismay Over Loss Of Lives

Published

2 days ago

January 20, 2025

Ochuwa Ibrahim

Niger Tanker Explosion: VP Shettima Expresses Dismay Over Loss Of Lives

By: Our Reporter

Vice President Kashim Shettima has expressed dismay at the devastating tanker explosion that claimed several lives at Dikko Junction in Niger State.

He commiserated with families of the victims, assuring them of the federal government’s commitment to preventing future occurrences.

The Vice President extended his heartfelt condolences to the bereaved families, as well as the government and people of Niger State.

The Vice President’s message follows President Bola Ahmed Tinubu’s earlier directive for immediate medical assistance to survivors and the implementation of stricter safety protocols along major highways.

The incident, which occurred when a fuel-laden tanker en route from Kaduna to Gwagwalada overturned at Dikko Junction, has prompted the federal government to announce a comprehensive review of transportation safety measures.

The Preident has also tasked the National Orientation Agency with launching an immediate nationwide awareness campaign on the dangers of approaching accident scenes involving fuel tankers.

Niger Tanker Explosion: VP Shettima Expresses Dismay Over Loss Of Lives