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Agriculture is the way to become wealthy but it can’t happen the way our parents practiced, IITA says.

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DEVELOPING creative messages/methods that would attract young people to agriculture could help Africa to attract youth to agriculture and end the rising unemployment in the continent, says the Deputy Director General Partnership for Delivery, International Institute of Tropical Agriculture (IITA), Dr Kenton Dashiell.

In a message to journalists to mark the 2017 Media Day— part of activities to mark the 50th anniversary of IITA on 24 July 2017, Dr Dashiell said addressing the food insecurity question in Africa required collective efforts from the different institutions operating in Africa, stressing that “IITA cannot succeed in isolation.”

He underpinned the importance of creativity in packaging and dissemination of information on agricultural innovation in a way and manner that would attract youth into agriculture, and clear illusions about the sector.

Dashiell explained that for IITA, “our message is this—agriculture is the way to become wealthy. But this cannot happen if it is practiced the way our parents did. Fortunately, IITA has advanced technologies that if used could make farming very profitable and fun for farmers.”

The Media Day was a time for IITA to appreciate the invaluable contribution of the press to the Institute in the past 50 years. It was the first time the Institute would engage members of the press for a full day, showcasing to them its facilities, projects, and the Institute’s direction for the next 50 years.

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As journalists toured the campus, stories of IITA research breakthroughs reverberated— from the fields where IITA defeated the Black Sigatoka disease on banana, cassava mealybug, and maize streak virus; to the labs where breakthroughs such as the use of Aflasafe is making maize and groundnuts safer to innovations where researchers are growing yam in the air and new technologies are being developed to control weeds in cassava.

Journalists were taken around the facilities to see research on maize, yam, cassava, cowpea, banana and plantain. IITA is also piloting the first ever Africa-wide youth in agribusiness initiative (IITA Youth Agripreneurs), which has received strong support from the African Development Bank and about 11 heads of African States.

Dr Kwesi Atta-Krah, Chair, IITA50 Organizing Committee and Director, Systems and Site Integration said that in the last 50 years, IITA had stood with the people by providing agricultural solutions that address the constraints to Africa’s agricultural development.

“And because we are truly people-centric, our goal in the last 50 years has always been to make living more fulfilling for even the poorest of the poor farming households. Even now, IITA will not stop. The Institute will continue to join hands with relevant stakeholders to do its best to transform agricultural practices to be able to transform Africa,” Dr Atta-Krah explained.

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The Chair of the IITA50 Organizing Committee also announced that on 30 June 2017, a press conference will be held at IITA’s facilities in Lagos, after which IITA’s senior management team will proceed to ring the closing bell at the Nigerian Stock Exchange, officially announcing the Institute 50th anniversary to the public.

Established 1967, IITA is a leader in agricultural research in sub-Saharan Africa. Innovations from the Institute have translated to better nourishment, food security, and livelihood-generating activities for millions of Africans.

The IITA50 celebration received financial support from IITA staff and the Board of Trustees, Dangote Group, Bovas, and Inqaba. Other supporters include Punch and the Guardian Newspapers.

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CBN orders banks to suspend deposit charges

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The Central Bank of Nigeria (CBN) has directed deposit money banks and financial institutions to suspend processing fees on deposits until September 30, 2024.

In a circular dated May 6, 2024, the apex bank ordered financial institutions to suspend processing charges imposed on cash deposits above N500,000 for individuals and N3,000,000 for corporates.

This directive, signed by the CBN’s Acting Director of Banking Supervision, Adetona Adedeji, aims to alleviate financial burdens on depositors.

The recent directive follows previous instructions from the CBN, which mandated deposit money banks to impose a 0.5% cybersecurity levy on transactions, a move that has stirred public outcry.

The circular stated, “Please refer to our letter dated December 11, 2023, referenced BSD/DIR/PUB/LAB/016/023 on the above subject, suspending processing charges imposed on cash deposits above N500,000 for individuals and N3,000,000 for corporates as contained in the ‘Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions’ issued on December 20, 2019.”

It continued, “The Central Bank of Nigeria hereby extends the suspension of the processing fees of 2% and 3% previously charged on all cash deposits above these thresholds until September 30, 2024. Consequently, all financial institutions regulated by the CBN should continue to accept all cash deposits from the public without any charges until September 30, 2024.”

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TUC threatens massive protest over cybersecurity levy

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FILES: TUC President Festus Osifo during a labour rally

 

The Trade Union Congress (TUC) has issued a stern warning to the Nigerian government, threatening a large-scale protest that could bring the economy to a standstill if the controversial cybersecurity levy introduced by the Central Bank of Nigeria (CBN) is not revoked.

In a statement released on Wednesday, TUC President, Festus Osifo, criticised the recent directive by the CBN imposing a 0.5 per cent cybersecurity levy on nearly all electronic transactions.

This move comes on the heels of heavy criticism from the Nigeria Labour Congress (NLC), which labeled the levy as an additional burden on Nigerians.

The TUC condemned the timing of the levy, highlighting the economic challenges already faced by Nigerians, including the devaluation of the Naira, high petrol prices, and increased electricity tariffs.

Expressing dismay over government policies under the leadership of President Bola Tinubu, the TUC lamented the burden of multiple taxation endured by Nigerian account holders, both from the government and financial institutions.

The union further accused the National Assembly of colluding with elements in the executive to exploit citizens rather than protect them.

TUC emphasised that Nigerians are currently focused on concluding discussions regarding the minimum wage, urging the Federal Government to prioritise this over what it described as a “vexatious policy.”

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It demanded the immediate withdrawal of the CBN circular to banks and the cancellation of the levy.

Warning of drastic action if their demands are not met, the TUC declared its readiness to mobilise members, stakeholders, and the masses for an immediate protest, potentially leading to the complete shutdown of the Nigerian economy.

According to the TUC, this levy represents one exploitation too many for the Nigerian populace.

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Ndume slams senate chamber renovation as ‘poor job’

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The Senate Chief Whip, Ali Ndume, has voiced his dissatisfaction with the recent renovation work carried out in the Senate Chamber, labeling it as substandard.

Under Order 42 of the Senate Standing Rules, Ndume expressed his concerns, highlighting various issues such as the poor quality of the sound system leading to echoes, inadequate sitting arrangements, and the absence of voting devices.

He remarked, “Since day one, precisely last week Tuesday when we moved into this Chamber that was supposed to have been renovated, there have been complaints here and there.”

In response, the President of the Senate, Godswill Akpabio, clarified that the sitting arrangement complaints among Senators have been largely resolved, noting that the renovation contract was not executed by the 10th National Assembly.

Meanwhile, in legislative proceedings, the Senate passed for the second reading a Bill aimed at repealing the Revenue, Mobilization, Allocation and Fiscal Commission Act of 2004.

The new legislation seeks to grant the Commission enforcement powers for monitoring revenue accruals and disbursement from the federation account, aligning it with the amended 1999 constitution.

Despite the bill’s passage, lawmakers have agreed to subject it to further scrutiny, with plans to revisit its provisions.

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The bill has been referred to the Committee on Finance, Appropriations, and Economic and Financial Planning for review, with a report expected within four weeks.

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