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N7.9bn Paris Club Refund: Oyo Govt. Dedicates 60% for Salaries.

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THE Oyo State Government has disclosed that 60% of the latest Paris Club Refund of N7.9bn will be expended on salaries, wages and pensions of workers in the state, saying that its decision to use 100% of its federal allocations for workers’ welfare still stands.
The government has also explained that about 80% of its much touted debt profile of N115bn by political opponents is made up of salaries, gratuities, pensions and wages owed workers and pensioners in the state, emphasizing that it also includes gratuities and pensions predating Governor Ajimobi’s administration.
The State Commissioner for Finance and Budget, Mr. Abimbola Adekanmbi made these explanations while featuring on a live Programme on a private radio station in Ibadan at the weekend, saying that the remaining 20% is largely composed of financial support from the federal government such as budget support and infrastructural loan.
Adekanmbi stated that the the Abiola Ajimobi’s administration is very committed to the welfare of the entire people of the state, hence, its decision to deplore 60% of the first disbursement of the first tranche of Paris Club Refund for workers welfare which is more than the 50% suggested by President Muhammad Buhari.
According to the Commissioner, “We will all recall that President Buhari has told state governments to use at least 50% of the refund for workers’ wages, salaries and allowances. We are doing more than the 50% in Oyo State. When we collected the first tranche of N7.2bn, we used 60 % for workers’ salaries and wages. We also collected a part two of the inflow of the sum of N5.003bn and committed 100% to salaries and salary related payments of workers in the state.
“We have paid two months salaries three times consecutively and the governor has not relented in his efforts to clear all the outstanding wages. We will all remember that Oyo State was initially excluded from the refund, but the governor’s tenacity and strong will ensured that we also got our share.
“It amazes me when people throw figures in the air without proper explanation or understanding. It is ver disappointing when people who claim to be knowledgeable bandy figures for mischief with malicious intent for cheap political gain. Our books are available for all to see and the leadership of the workers’ unions meet with us regularly. We devote 100% of our federal allocations to workers’ salaries and salary related and we did not borrow all the N115bn debt.
“About 80% of it is an accumulation of outstanding salaries, pensions, gratuities including those from previous administrations. We will do all within our capacity to always set the record straight and put things in proper perspective with a view to enlightening the public,” Mr. Adekanmbi said.

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Reps passes resolution to investigate ₦15trn Lagos-Calabar coastal road contract

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The House of Representatives has passed a resolution to delve into the intricacies of the procurement process surrounding the award of the ₦15 trillion Lagos-Calabar coastal road contract.

The motion, spearheaded by Honourable Austin Achado on Thursday, was underscored as a matter of urgent national importance.

Citing breaches of the 2007 Procurement Act and the absence of requisite approvals from the National Assembly, the House highlighted glaring irregularities in the contract award process.

Consequently, the House has demanded that the Minister of Works, the Minister of Finance, the Attorney General, and the Minister of Justice furnish the National Assembly with copies of pertinent documents related to the contract.

This development unfolds against the backdrop of recent demolitions of buildings and structures along the designated route of the project.

Minister of Works, Dave Umahi, shed light on the financial scope of the undertaking, revealing that the construction of the Lagos-Calabar coastal road would amount to approximately ₦4 billion per kilometer.

Spanning a distance of 700 kilometers, the Lagos-Calabar coastal road is poised to establish a crucial link between Lagos and Cross River, traversing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states before reaching its terminus in Cross River.

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Despite its ambitious scope, the project has not escaped scrutiny. Notable figures including Peter Obi, the 2023 presidential candidate of the Labour Party, have criticised the endeavour, branding it a misallocation of resources by the Federal Government.

Similarly, former Vice President Atiku Abubakar labeled the project as fraudulent, although his assertions were promptly rebuffed by the Presidency.

 

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Biden Vows Arms Suspension as Israel Shells Rafah

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Demonstrators protest during a rally in support of Rafah, next to a pro-Palestinian encampment at California State University, Los Angeles (Cal State LA) in Los Angeles, California, on May 7, 2024. (Photo by Etienne LAURENT / AFP)

Israel shelled Rafah on Thursday as US President Joe Biden offered his starkest warning yet over the conduct of its war against Hamas, vowing to cut off arms transfers if an offensive into the southern Gaza city goes ahead.

Israel has defied international objections by sending in tanks and conducting “targeted raids” in the border city, which it says is home to Hamas’s last remaining battalions — but is also crowded with displaced Palestinian civilians.

AFP journalists reported heavy shelling in Rafah early Thursday, and the Israeli military later said it was also striking “Hamas positions” further north in the centre of the Gaza Strip.

In an interview with CNN on Wednesday, Biden warned he would stop US weapons supplies to Israel if it pushed ahead with its long-threatened Rafah ground offensive.

“If they go into Rafah, I’m not supplying the weapons that have been used… to deal with the cities,” Biden said. “We’re not gonna supply the weapons and the artillery shells that have been used.”

On Tuesday, Israel forces seized Rafah’s border crossing into Egypt, which has served the main entry point for aid into besieged Gaza.

The White House condemned the interruption to humanitarian deliveries at the time, and the secretary of defence later confirmed Washington had paused, for the time being, a shipment of heavy bombs to Israel after it failed to address concerns over its Rafah ground incursion.

“Civilians have been killed in Gaza as a consequence of those bombs,” Biden said in his interview. “It’s just wrong.”

He insisted, however, that the United States was “not walking away from Israel’s security”.

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The United States, along with Egypt and Cairo, has been heavily involved in talks currently under way in Cairo aimed at brokering a ceasefire in the seven-month war.

– ‘Extreme fear’ –

The Israeli military said Wednesday it was reopening another major aid crossing into Gaza, Kerem Shalom, as well as the Erez crossing.

But the UN agency for Palestinian refugees, UNRWA, said the Kerem Shalom crossing — which Israel shut after a rocket attack killed four soldiers on Sunday — remained closed.

Late Wednesday, the army said a soldier was lightly wounded when Kerem Shalom was again targeted by rockets.

The heavy shelling in Rafah overnight into Thursday followed a day of what the Israeli military said were “targeted raids on the Gazan side of Rafah crossing”, in the city’s east.

An army statement later on Wednesday said that Hamas naval commander Mohammed Ahmed Ali was killed in an air strike “in the past day”. Hamas did not immediately comment.

Civilian life in Rafah, meanwhile, “has completely ceased”, said displaced Gazan Marwan al-Masri, 35, noting “the streets are empty” in the western part of the city.

“We are living in Rafah in extreme fear and endless anxiety,” said Muhanad Ahmad Qishta, 29.

“Places the Israeli army claims to be safe are also being bombed,” he told AFP.

– ‘Catastrophic’ health situation –

An emergency doctor working in Rafah and nearby Khan Yunis said that with humanitarian access compromised, the health situation was “catastrophic”.

“The smell of sewage is rife everywhere,” said the doctor, James Smith. “It’s been getting worse over the course of the last couple of days.”

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World Health Organization chief Tedros Adhanom Ghebreyesus said Wednesday that hospitals in southern Gaza had only “three days of fuel left” because of the border closures.

“Without fuel all humanitarian operations will stop.”

The war in Gaza was sparked by Hamas’s unprecedented October 7 attack on Israel, which resulted in the deaths of more than 1,170 people, mostly civilians, according to an AFP tally of Israeli official figures.

Israel in response vowed to crush Hamas and launched a military offensive that has killed at least 34,844 people in Gaza, mostly women and children, according to the Hamas-run territory’s health ministry.

Militants also took about 250 hostages. Israel estimates 128 of them remain in Gaza, including 36 who officials say are dead.

– Truce talks –

Talks involving Qatari, US and Hamas delegations aimed at cementing a long-stalled ceasefire deal were ongoing Wednesday in Cairo, said Al-Qahera News, which is linked to Egyptian intelligence.

It noted that there were “points of contention” during the discussions, but also reported some “convergence” without elaborating.

A senior Hamas official said the latest round of negotiations would be “decisive”.

Hamas “insists on the rightful demands of its people”, the official said on condition of anonymity because he was not authorised to speak publicly about the negotiations.

In Jerusalem, CIA director Bill Burns met Israeli Prime Minister Benjamin Netanyahu to discuss the “possibility of Israel pausing the operation in Rafah in exchange for hostage releases”, an Israeli official said, also on condition of anonymity.

The Hamas official had previously warned the Cairo talks would be Israel’s “last chance” to free the hostages still in militants’ hands.

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Mediator Qatar also appealed “for urgent international action to prevent Rafah from being invaded and a crime of genocide being committed”.

Palestinian analyst Mkhaimar Abusada said Israel’s seizure of the Rafah crossing could be an attempt to create new facts on the ground, or a bid to “sabotage the truce talks”.

Israel’s seizure of the Palestinian side of the Rafah crossing came after Hamas said it had accepted a truce proposal — one Israel said was “far” from what its own negotiators had previously agreed to.

Netanyahu has described the Rafah operation as “a very important step” in denying Hamas “a passage that was essential for establishing its reign of terror”.

 

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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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