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COVID-19 ENDOWMENT FUND: Oyo govt. writes donors, expresses gratitude 

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The Oyo State Government has written personal letters to individuals and corporate organisations that contributed to the state’s fight against the novel Coronavirus, Covid-19.

The government, in letters signed by the governor, Engineer Seyi Makinde, the Secretary to the State Government, Mrs. Olubamiwo Adeosun, and the state’s Commissioner for Finance, Mr. Akinola Ojo, and addressed to individual donors, corporate bodies and non-governmental organizations, expressed gratitude to everyone who gave monetary and material support to the state.

It added that it was heartwarming that the government and people of Oyo State could count on them.

A statement signed by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the letters were addressed to donors who contributed financially as well as those who contributed food items, medical and other relief materials.

“The novel COVID-19 pandemic has tremendously impacted the world’s economy and, by extension, Oyo State.

“In order to cushion the effect of this virus, provide necessary health infrastructure, support businesses and provide palliatives to the indigent among us, the Government set up a dedicated Oyo State COVID-19 Endowment Fund to receive cash donations from public spirited individuals and organisations.

“To this end, I write to thank you and recognise your contribution. It is heartwarming that the Government and people of Oyo State can always count on you especially in times of need”.

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The statement named some of the donors who already had letters addressed to them as including the Coalition Against COVID-19 (CACOVID), with a financial donation of N30 million; the United Bank for Africa (UBA) with a donation of N28.5 million and the duo of the late Chief Bode Akindele and Chief Bode Amoo, who both donated N25 million each.

Other recipients of the letters included De Damak Nigeria Limited/Alhaji Chief Dawud Akinola, who donated N20 million; Adron Homes- N20 million; First Bank- N20 million; and Nigerian Breweries, which also donated N20 million.

Those in the N10 million category who have received the letters include Unity Bank, ICMA Professional Services/Dr. Awa Ibrahim, Lateef O. Fagbemi & Co, Engr. Oseni Abass Aderemi, His Excellency, Senator Rashidi Ladoja, CCECC, Ledco Limited, FCMB and Otunba Olumide Osusina of Megamond Investment.

Donors in the N5 million category who were also appreciated by the government include: Christ Apostolic Church, Alhaji Yekini Adeojo, Chief Dotun Sanusi, Heritage Bank Ltd, AOS Orwell Limited, Chief Bode George, DAR AL-Handasah, Chief Kola Daisi and Sterling Bank.

ITC Advisory Services and Ratcon Construction were appreciated for their donations of N2.5 million each.

The statement added that the state government intends to address letters to all categories of donors as a mark of its appreciation of their immense contributions.

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It added that the state has so far raised cash donations amounting to N394 million, agricultural inputs\food items worth to N186 million and Health/Medical materials worth N356 million, while CACOVID has donated items worth N150million so far.

 

 

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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