News
Migrants sent $605bn home in 2021, more by mobiles – Report
Migrant workers sent home an estimated $605 billion to low- and middle-income countries last year, a UN study said Thursday, boosted by an increase in payments sent via mobile phones.
Global remittances rose 8.6 percent compared to 2020 and are projected to grow to $630 billion in 2022, according to the International Fund for Agricultural Development (IFAD).
Such payments are a major source of income for many low-income households, with around 800 million family members expected to benefit in 2022.
Between now and 2030, global remittances will amount to $5.4 trillion, the equivalent of twice the GDP of Africa in 2021, IFAD has estimated.
“Remittances lift people out of poverty, put food on the table, pay for education, cover health expenses, allow housing investments and many other family goals beyond consumption,” IFAD president Gilbert Houngbo said.
However, the report warned that the upward trend would likely slow this year as inflation erodes wages, and as a result of Russia’s invasion of Ukraine.
Many countries in central Asia depend on remittances from Russia, with payments accounting for as much as 30 percent of their GDP, said the report.
But the decline in the value of the ruble and the economic impact of sanctions has triggered a “sharp decline in transfers”, IFAD said.
Most of the money sent home by migrant workers is transferred through bricks-and-mortar institutions with clients paying cash, but the coronavirus pandemic saw a important shift towards digital.
With lockdowns and border closures making physical services more difficult to access, mobile phone payments jumped by 48 percent in 2021.
They still only accounted for three percent of the global total, but Pedro De Vasconcelos, manager of the Financing Facility for Remittances at IFAD, said the trend is set.
“Cash is still king, but it’s losing ground,” he told AFP.
This matters because mobile payments are more convenient, particularly for those in rural areas, and are also cheaper.
In Africa — which received $94 billion in remittances in 2021, an increase of 13 percent on 2020 — transfer fees are the highest in the world.
News
Oyo Rep, Oseni Donates ₦50m to Sheikh Agbotomokekere Mosque Project
The lawmaker representing Ibarapa East/Ido Federal Constituency of Oyo State, Engr. Aderemi Oseni, on Thursday, donated the sum of fifty million naira (₦50 million) toward the construction of the proposed Sheikh Agbotomokekere Mosque building project.
Oseni joined other dignitaries, religious leaders, and Muslim clerics to honour the Chief Imam of Ibadanland, Grand Imam of Oyo State, and Grand Patron of the League of Imams and Alfas of Yorubaland, Edo, and Delta States, His Eminence Sheikh AbdulGaniy Abubakre Agbotomokekere, during the annual Maolud Nabiyy celebration at the Ibadan Central Mosque, Oja Oba.
It was during the event that he announced the generous donation.
The Maolud Nabiyy celebration, organised by the Al-Imam Agbotomokekere Islamic Foundation, also featured the unveiling of the proposed mosque project and an award presentation ceremony.
Delivering an insightful lecture at the event, the Chief Imam of Ogbomosoland, Dr. Yunus Tolhat Ayilara, who served as the Guest Lecturer, highlighted the importance of perseverance in the face of challenges.
In a statement issued on Friday by his media aide, Idowu Ayodele, the lawmaker, who also chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), reaffirmed his commitment to supporting initiatives that strengthen the spiritual and social development of his constituency and state.
He commended the Al-Imam Agbotomokekere Islamic Foundation for its dedication to fostering a sense of community through faith, education, and shared values.
According to him, the mosque project symbolises unity and the determination of the people.
Reflecting on the significance of the proposed Agbotomokekere Mosque, the APC chieftain described it as a beacon of unity and religious harmony.
“This mosque project reflects our shared values and our commitment to building a community grounded in faith, love, and unity. I am honoured to contribute to this vision and support the Agbotomokekere Foundation in its efforts to promote peace and spiritual growth,” Oseni stated.
News
Customs Surpasses Revenue Target with N5.7 tn Collection
The Nigeria Customs Service (NCS) has announced a record revenue collection of N5.7 trillion as of November 12, 2024, surpassing its yearly target by 10 percent.
This was disclosed by the Comptroller-General of Customs, Adewale Adeniyi, at the ongoing 2024 Comptroller-General of Customs Conference in Abuja.
Themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” the conference showcased the Customs Service’s progress in modernizing its operations and fostering collaborative partnerships.
“Today, I stand before you to demonstrate how our commitments in 2023 have evolved into tangible achievements,” Adeniyi stated.
He attributed the revenue growth to a series of reforms, including the implementation of a one-stop solution for cargo alerts, a revamped ICT infrastructure, streamlined inspection procedures, and enhanced automation.
Adeniyi explained that these changes reflect the agency’s commitment to elevating operational transparency and efficiency.
“We pledged to re-align our free trade operations, elevate cargo integrity standards, and expand our scanning capacities,” he said.
“Above all, we promised to usher in a new era of customs operations—one built on transparency, efficiency, and genuine collaborations with our partners.”
As of Tuesday, November 12, Adeniyi confirmed that the NCS collected N5.07 trillion, achieving the anticipated 10 percent revenue surplus.
“This performance validates our partnership-driven approach to revenue collection and trade facilitation,” he added.
Adeniyi also highlighted recent strides in trade facilitation, revealing that six companies have been selected to benefit from the Authorised Economic Operators programme, which provides fast-tracked customs clearance and other trade facilitation benefits.
Similarly, the NCS has processed 21 requests under an advance ruling programme, designed to expedite customs decisions on import and export cargoes before they reach Nigerian ports.
The Comptroller-General expressed optimism about the NCS’s potential to drive further economic growth, citing the agency’s commitment to fostering partnerships and advancing innovative practices within the customs sector.
News
Half of Shortlisted Directors Fail Federal Permanent Secretary Exam
Nineteen out of the thirty-eight directors who were shortlisted to fill permanent secretary vacancies within the Federal Civil Service have failed the qualifying examination, a memo from the Office of the Head of Civil Service of the Federation (OHCSF) revealed on Tuesday.
The memo, signed by Dr. Emmanuel Meribole on behalf of the examination committee, disclosed that the qualifying exam was conducted on Monday, November 11, 2024.
The Federal Government, through the OHCSF, launched the recruitment drive in October to fill permanent secretary vacancies in eight states.
Providing insights into the progress, Eno Olotu, Director of Press at OHCSF, stated, “Of the 38 eligible directors who sat for the exam, 19 have passed the first stage and will move on to the second stage, which will assess their competency in using Information and Communication Technology (ICT) in government operations on Wednesday, November 13, 2024.”
Olotu highlighted the rigorous three-stage selection process, designed to ensure that only the most capable individuals are appointed to these high-ranking civil service roles.
This comprehensive approach, according to OHCSF, aims to elevate the quality of leadership across federal ministries.
The directors who advance beyond the ICT proficiency test will face a final stage on Friday, November 15, 2024, where a panel of senior government officials and private sector experts will conduct a final evaluation to determine their suitability for the permanent secretary positions.
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