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German industrial orders drop by 11.3% in January

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German industrial orders plunged more than expected in January, official data showed Thursday, in another worrying sign for the crucial manufacturing sector in Europe’s biggest economy.

New orders, closely watched as an indicator of future business activity, fell 11.3 per cent from the previous month, federal statistics office Destatis disclosed to AFP on Thursday.

Analysts surveyed by financial data firm FactSet had expected a fall of six per cent.

Orders had unexpectedly surged 12 per cent in December, and January’s negative figure is in part explained by the month-on-month comparison.

The economy ministry said orders from the eurozone plunged more than 25 per cent, after a strong reading in December, while demand from elsewhere increased slightly.

January’s declines were spread across most sectors, with particularly heavy falls in orders for electrical equipment, metal and pharmaceutical products, the ministry said.

Destatis stressed that in a “less volatile” three-month comparison, new orders from November to January were 2.3 per cent higher than the previous three months.

Economist Jens-Oliver Niklasch from LBBW bank said the three-month comparison was “not a bad figure, once you get over the initial shock of January”.

But he added that it was “still not good enough to reverse the downward trend of the last few quarters. The economy remains in a slump.”

High inflation, costly energy and weaker demand from key market in China have all weighed heavily on Germany’s key manufacturing sector in recent months.

The industrial slowdown contributed to a wider downturn in the German economy, which shrank by 0.3 per cent in 2023.

The Bundesbank central bank expects a modest recovery to get underway in 2024, predicting growth of 0.4 per cent as inflation eases and demand picks up.

AFP

Buhari, ex-SGF’s signatures forged to move $6.2m from CBN -Forensic expert

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A forensic document examiner seconded to the Economic and Financial Crimes Commission, Bamaiyi Haruna on Thursday said the analysis conducted on the documents used to release $6.2m from the Central Bank of Nigeria in February 2023 showed that they were forged.

The EFCC had alleged that on February 8, 2023, a former CBN governor, Godwin Emefiele, connived with one Odoh Ocheme, who is now on the run, to obtain $6.2m from the CBN, claiming that it was requested by the SGF “vide a letter dated 26th January 2023 with Ref No. SGF.43/L.01/.

The anti-graft agency also alleged that Emefiele, in January 2023, forged a document titled: “RE: PRESIDENTIAL DIRECTIVE ON FOREIGN ELECTION OBSERVER MISSIONS,” dated 26 January 2023 with Ref No. SGF.43/L.01/201.

At the last adjourned date, a former Secretary to the Government of the Federation, Boss Mustapha, noted that the documents did not emanate from former President Muhammadu Buhari or his office.

Mustapha also told the court that the Federal Government had no business with foreign election observers.

Haruna, who is the sixth prosecution witness in the matter, stated that the real signatures of Buhari and the ex-SGF were analysed with the ones in the documents were not the same.

He said, “The conclusion from the analysis revealed that the disputed documents showed evidence of forgery and copying art as the pen movement form and formation of the signatures and the skill of execution were found to be different from that of the specimen signatures A to A2 and B to Bi

“The form and formation of the signatures marked x and the specimen signature marked B to B1 were found to be different in respect of pen movement impulses, skill of execution, loop formation, and presence of tremors, there were individual characteristics. This is a confirmation that the author of the specimen signatures marked B to B1 does not rhyme with the signature of Buhari on the disputed document marked X.

“Also, the form and formation of the disputed signatures marked X1 and Specimen signature A2 were also found to be different in respect to pen movement impulses. Initial and terminal strokes, loop formation, presence of tremors, and individual characteristics. This is also a confirmation that the author of the specimen signature marked A2 did not rhyme with the signature of Boss Mustapha on the disputed document marked X1.”

Counsel for the EFCC, Rotimi Oyedepo(SAN), applied to the court to tender the forensic report dated January 25, 2024, and other documents attached as exhibits.

Emefiele’s lawyer, Mathew Burkaa (SAN), did not oppose.

Justice Hamza Muazu subsequently admitted as evident and marked them exhibits FDE.

During cross-examination, Burkaa asked how would the court determine whether two signatures are similar or dissimilar.

The witness urged the court to rely on the report.

When asked if Emefiele’s signature was analysed, he said no.

Also asked if EFCC operatives submitted the materials analysed, Haruna said, “Operatives of EFCC submitted the request to the department. ”

Burkaa asked if they were the ones who pointed out the disputed signatures.

He said, “The submitting authority did”.

The matter was subsequently adjourned till March 11.

Lassa fever kills 19 in Taraba

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At least 19 persons have been confirmed to have died of Lassa Fever between January and February this year at the Federal Medical Centre Jalingo, in Taraba State.

The centre’s Head of Clinical Services, Dr Joseph Kuni, announced this in an interview with journalists in Jalingo on Thursday.

According to Kuni, from January to February 105 samples were sent out for testing, and 60 of them came out positive for Lassa Fever, 39 came out negative, while the remaining results of the samples are being awaited.

“We cannot perform the test due to the fire outbreak that affected the modular laboratory last year, therefore we either send the samples to Bauchi or Abuja.

“The number of cases this year is alarming compared to previous years. From January to February this year, we recorded 19 deaths from the Lassa Fever Isolation Centre, and most of these cases are from the central part of the state,” he said.

When contacted, the state Commissioner for Health, Gbangsheya Buma, confirmed the outbreak of the disease, adding that eight out of nine suspected cases that were tested last week Friday also came out positive.

Buma noted that the Ministry of Health was closely monitoring the situation and working in collaboration with the Nigeria Centre for Disease Control and Federal Medical Centre Jalingo to contain the spread of the disease.

“It is not surprising because this is the season and we have made preparations, but the outbreak has been overwhelming.

“I just received support from NCDC, they have sent some people here to provide technical support with the aim of stopping the spread of the disease,” he said.

Lassa fever is an acute viral haemorrhagic fever caused by the Lassa virus.

The natural reservoir for the virus is the Mastomys natalensis rodent, commonly known as the multimammate rat or the African rat. Other rodents can also be carriers of the virus.

Delta prosecutes 22 men for violence against women

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The Delta State Government says it has prosecuted over 22 men who violated women in the state, noting that a man who violated her two daughters, five and seven years old respectively has been arrested.

The State Commissioner for Women Affairs and Community Development, Mrs Pat Ajudua, stated this on Thursday during a walk-show to commemorate International Women’s Day in Asaba.

He said, “The Ministry of Women’s Affairs has prosecuted several men for violence against women.

“The ministry has 22 judgments in court against men. A week ago, we got information that a man, a tricycle rider violated her two daughters, five and seven years old.

“We brought the children here, examined them, and discovered that their organs have been damaged.”

In his remarks, the Behavioral Change Communication Officer for SFH DISC in Delta, Mr Ugo Vincent, opined that the DISC project aimed to shift sexual and reproductive healthcare to becoming a more patient-centered self-care approach where individuals take charge of their own healthcare needs.

“The whole essence of self-care is to ensure women have more autonomy over their sexual and reproductive health, allowing them to decide when they want to get pregnant.

“By providing access to self-inject contraceptives, we aim to prevent unintended pregnancies, reduce the strain on healthcare facilities, and improve women’s overall reproductive health,” he said.

He explained that the DISC project in Delta is currently working in about 56 facilities across five local government areas with the family planning providers trained to provide clients with balanced counseling messages to elicit informed choices in taking up FP methods.

On her part, the National Secretary Association of Women Living with HIV/ADIS Delta chapter, Nkem Chukwemeka, called on the state government to make a law against discrimination against people living with living with HIV.

How to Withdraw from PariPesa?

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Despite being one of the latest betting platforms in Nigeria, Paripesa withdrawals are reliable and convenient for all players. Paripesa started offering its world-class gaming and payment options to Nigerian players in 2019. The sportsbook operates under gaming licenses issued to MediaMart Entertainment Limited by the National Lottery Regulatory Commission and Oyo State Gaming Board. This guide covers a detailed overview of how to withdraw from PariPesa, the rules of making your withdrawal and the possible challenges of PariPesa withdrawals.

How to make a withdrawal from Paripesa?

Making Paripesa withdrawals includes a series of short simple steps that allow the player to make seamless withdrawals. Let’s take a look at how to withdraw from Paripesa:

  1. Create or log into your Paripesa account
  2. Click the orange “Dollar” $ sign for payment
  3. Select “Withdraw Funds” in the sidebar 
  4. Select a convenient payment option: Banking Transfer, e-wallet, and Internet banking.
  5. Fill the withdrawal amount, Account number, and your full name.
  6. Select confirm and wait for payment notification.

What are the Withdrawal methods at Paripesa Nigeria? 

As a modern betting site, Paripesa allows players to get their payout through digital banking options. Paripesa withdrawal methods include internet banking, e-wallet, and banking transfer options. The internet banking and bank transfer options at Paripesa also include transfers from the popular banks in Nigeria. We have reviewed these banking options and other payment methods this table below:

Withdrawal Method Minimum Payout Maximum Payout Transaction Fees Processing Time
OPay ₦550  ₦750,000 None Up to 15 minutes
Access Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
Polaris Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
CitiBank ₦550  ₦750,000 ₦50 Up to 15 minutes
Providus Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
EcoBank ₦550  ₦750,000 ₦50 Up to 15 minutes
First Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
Globus Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
Heritage Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
Keystone Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
Guaranty Trust Bank (GTB) ₦550  ₦750,000 ₦50 Up to 15 minutes
Stanbic IBTC Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
Titan Trust Bank ₦550  ₦750,000 ₦50 Up to 15 minutes
United Bank for Africa (UBA) ₦550  ₦750,000 ₦50 Up to 15 minutes
Union Bank ₦550  ₦750,000 ₦50 Up to 15 minutes

paripesa withdrawal methods

What are Paripesa withdrawal rules?

Paripesa withdrawals are available on request and payout are usually available within 15 minutes of the request. However, getting these payout from your Paripesa account requires you to follow the rules and conditions stated in the betting site.

Firstly, the Paripesa withdrawal limit is between ₦550 and ₦750,000 across all payment options. Paripesa does not provide any limit on the number of deposits a player can make daily, but reserves the right to reject a withdrawal request. 

Paripesa also allows players to make their withdrawal request as soon as they have verified their phone numbers and email address. The sportsbook does not regulate the player’s account number or banking details before approving withdrawal. It is important to note that you can only make withdrawals using the same payment details as when you made your deposit. However, when you attempt to make withdrawal using a different payment method, the sportsbook requires the withdrawal request to be the same as your Paripesa account name. 

Potential issues with withdrawing at Paripesa 

Payouts at Paripesa are heavily regulated by the Nigerian Lottery Regulatory Commission and the Oyo State Gaming Board. All payments are also subject to banking regulations and guidelines from the Central Bank of Nigeria. These regulations require Paripesa to institute anti-money laundry and anti-fraud policies that may affect your withdrawals. Some challenges with Paripesa withdrawals may come from the following:

  • Incomplete Verification: Paripesa has a simple verification system, but will not approve any withdrawal request until you have verified your email, phone number, and residential address.
  • Low Deposit Wager: Paripesal only approves withdrawal requests when you have wagered a 100% of your deposit on bets with at least 1:1 odds. Not meeting this quote reduces the amount you can get as payout.
  • Flaunting Sportsbook Rules: Aside from the Paripesa payment rules, the sportsbook has other rules guiding how you place bets and interact with the site. Not complying with these rules may affect your withdrawals or even disqualify you from the game.

FAQ

How long does it take to withdraw money from PariPesa?

You can get your payout within 15 minutes of making your requests. The time may be shorter depending on the payment option.

What verification and documents are required to withdraw from PariPesa?

You can complete your Paripesa withdrawal as soon as you verify your identity using your phone number and email address. The betting site also requires you to verify your residential address by uploading your utility bills and an identity card.

Is there cashout on Paripesa?

Unfortunately, Paripesa does not allow cash out during games. You can only get a payout when you win a game.

How much is the withdrawal fee for Paripesa?

Paripesa NG offers withdrawals mostly to bank accounts, and the fee is at least ₦50. This fee can be higher depending on the amount you withdraw. 

Comprehensive information on AccessBET withdrawal options.

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With numerous payout methods, AccessBET withdrawals are very convenient. In addition to many daily sports betting markets and competitive odds, AccessBET allows you to withdraw with various payment methods. Also, it has features like cash-out and live betting, while you can play on the iOS or Android mobile app. In this guide, our expert provides information on AccessBET withdrawal methods, payout limits and how to withdraw funds.

How to Make a Withdrawal from AccessBET?

The withdrawal procedure at AccessBET is characterised with ease. The process of requesting a withdrawal from this online sportsbook is as follows:

  1. Complete account registration or log in to your existing account
  2. Tap/click the naira ‘₦’ logo on the homepage and select ‘Withdraw’
  3. You’ll be required to complete your profile by uploading proof of identity, a recent utility bill and proof of payment method, among others.
  4. Withdrawal options become available after uploading the above methods.
  5. Choose a bank, enter your account number and amount and click/tap the ‘Withdraw’ option.

withdraw money from accessbet

What are the Withdrawal Methods at AccessBET Nigeria?

Bank transfer is the major withdrawal option at AccessBET. You only need to enter your bank information and you’ll receive your funds right into your account as fast as possible. The table below contains the most popular banks for online gaming at AccessBET, withdrawal limits, processing time and fees.

Withdrawal Method Minimum Payout Maximum Payout Transaction Fees Processing Time
OPay ₦1,000 ₦1,000,000 None Up to 5 days
Paystack ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Flutterwave ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Monnify ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Paga ₦1,000 ₦1,000,000 ₦50 Up to 5 days
PalmPay ₦1,000 ₦1,000,000 ₦50 Up to 5 days
MTN MoMo PSB ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Moniepoint MFB ₦1,000 ₦1,000,000 ₦50 Up to 5 days
VFD MFB ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Kuda MFB ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Guaranty Trust Bank (GTB) ₦1,000 ₦1,000,000 ₦50 Up to 5 days
First Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days
First City Monument Bank (FCMB) ₦1,000 ₦1,000,000 ₦50 Up to 5 days
United Bank for Africa (UBA) ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Access Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Zenith Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Wema Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Alat by Wema ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Providus Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Globus Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days
Fidelity Bank ₦1,000 ₦1,000,000 ₦50 Up to 5 days

What are AccessBET Withdrawal Rules?

Cash-out is possible on some matches at AccessBET Nigeria. After a successful cash-out on your bet, you can withdraw your funds to your bank account or continue betting on more matches. Your first withdrawal at AccessBET is only possible after verifying your identity. You can only withdraw to a bank account in your name and you must also verify your withdrawal method.

Also, you must wager your deposit a certain number of times before you can withdraw any winnings on it. The bookmaker can change a withdrawal method even if it was previously available. Similarly, the site can refuse payouts to any withdrawal method, even if you’ve used it before.

Potential Issues with Withdrawing at AccessBET

You should adhere to the betting rules at this bookmaker site; otherwise, you might have a problem withdrawing your winnings. You can do this by studying the terms and conditions carefully before signing up. Below are some issues that may arise with withdrawals at AccessBET and how to avoid them.    

  • Issues with KYC verification. You should submit all documents and meet all requirements necessary for your verification on this site. You won’t receive your funds if you don’t satisfy the verification procedure.
  • Underage gambling. You can’t withdraw your funds if you’re below 18 years.
  • Third-party deposit or withdrawal activity. You must only deposit and withdraw with payment methods registered in your name.
  • Insufficient deposit or bonus wagering. AccessBET only allows you to withdraw funds if you bet a certain number of times with your deposited funds. If you have a bonus, you must wager it according to the specified number of times before withdrawing winnings on it.
  • Irregular play. You can’t withdraw funds if you won with a method the betting site considers unacceptable.

FAQ

What are the withdrawal methods for Accessbet?

Bank transfer is the top method, and you’ll find all licensed Nigerian banks in the cashier. You’ll also find OPay, PalmPay, Moniepoint, Kuda, Paystack, VFD Microfinance Bank, etc.  

How long does it take to withdraw from Accessbet?

According to the withdrawal rules, each payout request is treated within 5 banking days. This processing time is long and runs contrary to what obtains at many other betting sites in Nigeria.

What is the withdrawal limit for Accessbet?

You can withdraw from ₦1,000 to ₦1,000,000 in a single transaction.

Which withdrawal method is best from Accessbet?
It depends on your preference. Payment methods like OPay, PalmPay, Moniepoint, Kuda, Paystack, VFD Microfinance Bank, Alat by Wema, etc are usually very fast.

260,000 candidates sit 2024 Mock-UTME, says JAMB 

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No fewer than 260,000 candidates on Thursday sat for this year’s Mock Unified Tertiary Matriculation Examination across 793 Computer-Based Test centres across the country.

The Registrar of JAMB, Professor Ishaq Oloyede, made this known after monitoring some of the centres in Abuja.

Oloyede, who expressed delight over the seamless conduct of the exercise nationwide, said the exam was to test the preparedness for the main UTME, which will commence on Friday, 19th April 2024.

He revealed that the exam body also successfully conducted a recruitment examination for Nigerian Police on Wednesday, adding that the only few incidents recorded in the Mock UTME in about four centres would be resolved.

“So far so good, we are doing mock after mock, just yesterday we conducted recruitment for the Police Service Commission throughout the country, that was a mock before today’s mock and that was in 411 centres across the country, and today we are conducting our own mock in 793 centres across the country.

“So far, we have about three or four places where they have one issue or the other, but we are trying to get over that. So, it is a good one, even those three (where there are issues), we will have a way of accommodating them even if they go down completely. But everything is going on well and the reports we have, are that we are very okay,” he said.

Speaking further, the JAMB boss said that 1.98 million candidates registered for the main 2024 UTME out of which over 260,000 took part in the mock exam.

“Over 260,000 candidates are sitting for the (mock) exam but for the real exam we have 1.98 million because we don’t want to turn our mock to another exam that is why we did not allow more than that number to register for the mock exam, which is just to test the system.”

On the readiness for the main UTME, Oloyede said JAMB was fully prepared for the smooth conduct of the exam, even as he revealed that new mechanisms would also be deployed to further fortify the exam system.

“We are adequately ready for the exam,….today is a very special day for us. We know we are doing some internal revolution this year which we were apprehensive of the workability…

“We can now say we have arrived. What we said to ourselves about six, seven years ago, we have been able to achieve today,” he said.

Oloyede revealed that the results of the Mock UTME will either be released on Thursday (today) evening or tomorrow (Friday).

Earlier, Information  and Communications Technology consultant at JAMB, Damilola Bamiro, said the exam body was also fully in touch with all the centres taking part in the examination through the JAMB’s Situation Room.

He said the Situation Room allows for real-time interaction between the centres and JAMB to speedily resolve any issue during the exam.

The 2024 UTME will commence on April 19, 2024, and end on April 29, 2024, according to the initial announcement.

Anambra truth commission received 422 evidence, interviewed 187 persons — Odinkalu

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The Chairman of the Anambra Truth, Peace and Justice Commission, Prof. Chidi Odinkalu, has disclosed that the commission gathered 422 evidences and interviewed 187 persons, during its operations.

Odinkalu also stated that the commission received 36 memoranda, 28 submissions from traditional rulers, and 18 verbal submissions from witnesses, among others.

He stated this during an interview with journalists after the submission of the report of the commission to the Anambra State governor, Prof. Chukwuma Soludo, on Wednesday.

Odinkalu, a former Executive Secretary of the National Human Rights Commission, thanked the governor for entrusting them with the task, noting that the biggest structural factor in the violence is the political economy of land and not IPOB/ESN.

Soludo, in June 2022,  set up the commission and saddled it with the task of unraveling the circumstances behind insecurity which was at its peak in the South-East as of then, to begin the genuine quest for peace and reconciliation, among others.

The commission, which also has Ambassador Bianca Ojukwu as its Secretary, began work by conducting town hall meetings and engagements with various stakeholders, communities, traditional rulers, security agencies, and individuals who were in one way or the other affected by the insecurity.

Speaking further, Odinkalu said, “The commission surveyed 66 communities in the state, documenting cases of traditional rulers, security agents, presidents-general and community members who have disappeared and remain missing.

“The commission gathered 422 evidence, interviewed 187 persons, 36 memoranda, had 28 submissions from Traditional rulers, 18 verbal submissions, among others. The Commission discovered that land is central to understanding the crisis in Anambra State.”

He further argued that while Lagos is gaining land, Anambra is losing land due to ecological pressure, crises in leadership, and impunity.

He, however, stressed the need to end the use of the term “unknown gunmen,” especially by the media, develop a 25-year security strategy to reform community governance, and establish an agency for the protection of victims and accountability for violence.

According to him, the commission, among other recommendations, recommended that closure be given to the late lawyer, Mr Barnabas Igwe, and his wife, who were killed.

He added that the report, “sitting on the shelves” be acted upon, stressing that the way out is to deliberate out of the crisis which is unfortunately an existential issue.

“Specifically, the terms of reference of the committee were to identify the remote and immediate causes of the agitations, restiveness, violence and armed struggle in the South-East since 1999, to document victims and circumstances of death, brutality and incarceration, identification of stakeholders and groups who have played critical roles in the agitations and conflicts, their roles, capabilities and demands.

“Other terms of reference include addressing any other issues that may be germane to unravelling the extent of the crisis and charting the roadmap for the future and making recommendations for sustainable peace and security in Anambra State and South East.”

Recall that among those who testified before the commission was Obum Akunyili, one of the children of the late Prof. Dora Akunyili, who revealed the heart-wrenching details of his father’s tragic demise.

He also shared the account of how onlookers, instead of rushing his father, the driver, and the security personnel to the hospital for urgent medical care after unidentified assailants shot them, were preoccupied with recording videos of the incident.

Obum’s testimony underscored the unfortunate reality that his father and the driver bled to death due to the lack of immediate assistance, leaving them with no chance of possible survival.

He also told the commission that his late father had about a 10 per cent chance of surviving the gunshot wound on his head if there was timely medical intervention.

Others who testified gave accounts of several incidents that bordered on insecurity in the period under review.

North Central begins public hearing on national minimum wage

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The public hearing of the Tripartite Committee on national minimum wage has begun in the North Central.

The public hearing commenced at 11:25 am on Thursday.

The Chairman of the Tripartite Committee on National Minimum Wage, North Central Zone, is the President of the Trade Union Congress, Festus Osifo.

The Head of the Civil Service of the Federation Dr. Folasade Yemi-Esan, Governor of Niger State represented by his Deputy, Yakubu Garba, Kwara State governor represented by his Chief of Staff, Prince Abdulkadir Mahe, are among those present at the occasion in Abuja.

In accordance with the provision of item No. 34 of Exclusive Legislative List, Part I. Legislative Powers, Second Schedule of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 5 of the National Minimum Wage Act 2019, President Bola Tinubu inaugurated the Tripartite Committee on National Minimum Wage headed by retired Head of the Civil Service of the Federation, Bukar Aji.

The Committee has the terms of reference to consult all stakeholders on the issue of National Minimum Wage; to consider the National Minimum Wage in the context of the dynamics of the national economy, and to recommend a realistic and practical National Minimum Wage to the government.

Details later…

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Repayment of student loan begins two years after NYSC

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The Federal Government has said the recovery process from beneficiaries of the Nigeria Education Loan Scheme would commence two years after the National Youth Service Scheme.

The Executive Secretary, NELFund, Dr. Akintunde Sawyer, made this known during an interview with the News Agency of Nigeria on Thursday in Abuja.

On June 12, 2023, President Bola Tinubu signed the Access to Higher Education Act, 2023 into law, to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution

However, Sawyer said that the reason for the two-year grace after NYSC was to afford the beneficiaries enough time to get a job and be stable before the repayment.

“The law provides that for students who go into paid employment, repayment will be two years after NYSC, but that does not mean that they cannot pay back before that time.

“However, if they don’t have a job two years after NYSC, we cannot compel them to pay. Where are they going to get the money from? So, we will help them and wait for them to be able to pay.

“There will be a register of those who have taken the loan and employers will have access to that register and see who has a loan.

“Once they see who has a loan, when they are employing the individual, they will be obliged through the payroll system to refund 10 per cent of the earnings of that individual back to the fund,’’ he said.

Sawyer said that the modalities of how the money would be rooted were still being worked out but the employer would be obliged to make those deductions for as long as that person is at work.

“If they are yet to secure employment or if they lose their jobs they are not obliged to pay.

“We are not trying to turn applicants into criminals. We are trying to help Nigerians who need better education to get it so that they can improve their lives and the country as a whole can see improvement in its social-economic development,’’ he said.

For those who might want to deliberately circumvent the process of repayment, Sawyerr said there must be a way the law will catch up with them.

He said this could be achieved whenever the defaulters need to assess loans or any facilities from commercial banks.

The NELFund secretary also called on Nigerians not to politicise the student loan scheme because of its immense advantages.

He said, “I want to implore Nigerians to support this programme however imperfect it might seem because we will not get to perfection unless we start with something.

“I want to implore Nigerians to avoid politicising an issue that is so important to assist the youths.

“I am saying this because whenever there is a policy drive or something that impacts many people, there will be some perceived losers.”

The FG had voted N50 billion in the 2024 budget for the implementation of its student loan scheme, as contained in the details of the 2024 budget appropriation.

Tinubu gave the assurance that the loan scheme would kick off in January.

He stated, “By January 2024, the new student loan programme must commence. To the future of our children and students, we are saying no more strikes.

“To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.”

NAN