On the sidelines of the World Bank-IMF Spring meetings, Canada announced a $1.1 billion commitment in temporary callable capital to support the African Development Bank.
Canada’s announcement, to be approved by the Bank’s governors, was made by Maryam Monsef, the Canadian Minister of International Development and for Women and Gender Equality.
“I am happy to say that today, Canada is demonstrating its commitment to African countries and our confidence in the African Development Bank by announcing that we are going to subscribe up to US$ 1.1 billion in temporary callable capital, if required.” Minister Monsef toldmembers of the Diplomatic Corps based in Washington D.C., governors of the African Development Bank, executive directors, including executive director David Stevenson, who represents Canada, China, Korea, Turkey and Kuwait. The Bank’s senior management team was also in attendance.
The announcement comes a day after a meeting of the Bank’s governors in Washington D.C. to continue discussions on a 7th General Capital Increase.
“The African Development Bank is a key partner for Canada and we are committed to supporting the Bank’s African member countries. Canada and Canadians are proud of our long history of partnership and collaboration with Africa,” Monsef noted, before reminding the 100 attendees that Canada was determined to ensure that “no less than 50% of bilateral development assistance is dedicated to sub-Saharan Africa by 2021-2022.”
Commenting on the announcement, the Bank’s President, Dr Akinwumi A. Adesina said “Canada’s commitment and support is a huge boost to the African Development Bank. It will allow the Bank to strengthen its Triple A rating and increase lending to member countries while discussions are ongoing among all shareholders for a general capital Increase.”
“Your announcement is a clear indication that Canada has strong confidence in the African Development Bank,” Adesina added, while extending the Bank’s appreciation to Prime Minister Justin Trudeau for Canada’s unwavering support.
Minister Monsef urged other AAA-rated member countries to join Canada in providing temporary callable capital to the Bank. “I sincerely hope that this announcement will facilitate the general capital Increase negotiations and help support your efforts. Canada stands with you.”
In a follow-up bilateral meeting, Minister Monsef and President Adesina discussed values and interests in common on gender and increasing access to finance for women, as well as on climate and renewable energy issues.
Canadahas been a member of the African Development Bank since January 1983 and has participated in all general capital increases of the Bank. It provided temporary callable capital in 2010 while the GCI VI negotiations were ongoing. That decision enabled the Bank to continue to provide its support to regional member countries in the aftermath of the international financial crisis.
As at 30 June 2018, Canada’s total capital subscribed amounted to $3.5 billion of which $252 million has been paid in and $3.22 billion stands as callable capital, making Canadathe 4th largest shareholder among the Bank’s non-regional member countries.
FG To Review Allowances Of Governors, Lawmakers, Others
As part of efforts targeted at reducing the cost of governance, the Federal Government of Nigeria has directed the revenue mobilisation commission to review the allowances of political office holders including governors and lawmakers.
Senator Chris Ngige, the Minister of Labour and Employment, made this known on Wednesday, during a meeting with members of the National Union of Local Government Employees (NULGE) in Abuja, the nation’s capital.
Speaking further, Ngige also decried the huge sum of recurrent expenditure in the proposed 2020 budget, insisting that there is no option other than to cut down the cost of running the government.
He said, “we cannot allow the government to shut down the economy because they want to pay salaries and wages. The 2020 budget of N10.3trillion has N3.88trillion as personal cost without an overhead. A budget that is 76% recurrent and 24% capital, for me, this is nothing to cheer about.
“Revenue mobilisation commission will also beam a searchlight and review what they are giving for political officeholders. Some of the allowances in their prescriptions are not allowances that should be gotten.
“What is a governor doing with hazard allowance? What is the hazard about, when the state is feeding him and his family? What is a governor doing with constituency allowance? The whole state is his constituency.
“These are things that will be holistically reviewed”.
The Minister, however added that both workers and politicians must be ready to make sacrifices so that more money will be available for infrastructure.
Oyo, FRSC Embarks on Licence Plate Number Enforcement
Oyo State Government in collaboration with Federal Road Safety Corp (FRSC) has embarked on enforcement exercise to ensure all motorcycle and tricycle riders get necessary driving documents and plate numbers so as to curb crime and other misdemeanors.
While addressing newsmen in his office shortly after the exercise, the Executive Chairman, Oyo State Internal Revenue Service (OYSIRS), Aremo John Adeleke, said most of the crimes being perpetrated in the State were done by motorcycle riders that did not have registration documents which could be used to trace them.
The Chairman explained further that the government wanted to make sure all road users comply with all extant registration and vehicle renewal requirements for them to operate business activities.
He said, “our people are alarmed that there are quite many motorcyclists and cyclists in the nooks and crannies of our society without any registration, this gives room for a lot of crimes and their ability to escape, It is important for motorists and riders to register and obtain their license and plate numbers, those who must renew their vehicle papers and license should also proceed to do so.
“Complying with registration is just one of the criteria in the process of obtaining a license, there are necessary tests and other activities such as data capturing before its procurement. In addition, there are enough plate numbers so the public need not do business with touts and third parties to get their papers,” he admonished.
Aremo Adeleke advised the people of the State not to wait for enforcement before doing the right thing, assuring the public that the next phase of the exercise would concentrate more on private and commercial vehicle owners, urging them to do the needful before being enforced.
Speaking earlier on behalf of FRSC before the commencement of the exercise, the Deputy Corp Commander, Mr Olalekan Morakinyo told the task force to carry out the assignment with caution, stressing that they should make inquiries on why those concerned refused to obtain documents before plying the roads and direct them to appropriate quarters for the next step.
The exercise covered Onireke, Dugbe and Sango all within Ibadan metropolis with plan by the agency toit to the rest of the State in due course.
Air Force Wings Nigerian First Female Combat Pilot, Others
The Nigerian Air Force has commissioned its first female fighter pilot and the first female combat helicopter pilot in the history of the service.
Kafayat Sanni and Tolulope Arotile, trained in the United States and South Africa respectively were commissioned alongside eleven other fighter pilots.
The Chief of Air Staff, Air Marshal Sadique Abubakar at the induction ceremony which took place at the NAF Headquarters in Abuja on Tuesday also winged the first female Air Warrant officer. Grace Garba who was elevated last week.
According to Air Marshal Abubakar who conducted the winging alongside other invited guests, capable human resources was at the heart of the Nigerian Air Force agenda.
He maintained that the force will continue to do everything within the available resources to improve its lot as far as human capital is concerned.
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