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We Need Measures To Check Loopholes In TSA Implementation – CITM Boss

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The Registrar, Chartered Institute of Treasury Management (CITM), Olumide Adedoyin, on Wednesday insisted that there are no proper safeguards in place to ensure the effective implementation of the Treasury Single Account (TSA).

Adedoyin, who addressed reporters in Abuja also called for continuous training and retraining of personnel handling the process as some saddled with the responsibility do not understand it effectively.

Also as a means of checking wastage in the system, he urged that laws governing procurement be further domesticated.

He said, “Like every government policy, the TSA as it is a function of just an account. It is not an app, it is not a policy, it is just an account. What the TSA tries to do is to make sure that the government has its resources in place and are able to know what they have at any given time.

“Now the first step the government was supposed to take was to do what we call cash pulling. Call up your resources from every bank into one single account. Once you do so, those bank accounts you have should not be closed down, rather you try to moderate them into receiving banks. They receive on your behalf but you cannot disburse from those banks, while at the end of the day you just have an online real time balance to make sure that what comes in is being accounted for.

“That was supposed to be the function. But what we discovered at the end of the day was that there are some little processes and challenges within that platform because the back end for the audit was not adequately secured. So if you did not secure the back end, despite being able to make resources and bring those resources, then there is a little bit of opening in the back that could lead to hemorrhaging of resources and so on.

“I think as it is, we have actually reached out to the government on different fora, trying to make them understand that the importance of putting these back ends in check is quite important. Secondly we want to believe too that there must be an orientation of the continuous training and retraining of individuals. You would be surprised that some that are saddled with these responsibilities do not actually understand the process effectively.

READ ALSO: Tinubu Mocked For Visiting Obasanjo After Criticising Ex-President

“The problem as it is is that there are no safeguards in place. We talked about preventive mechanisms. That as it is is lacking. We talked about allowing treasury management to impact your cash management processes. That too is lacking. So these are those fundamental areas that we are concerned about. So that once you are able to make sure, for example, if X amount is budgeted for a project, how do you approach that project? For example you want to build roads, bridges, culverts, now you cannot release the funds for the completion of that road all at once, because it has a process of design, a process of building the culverts, bridges, your overlays and every other thing.

“What you need to do first and foremost, is to be able to design those projects with timelines. Once you design with timelines, release the funds that are responsible. Once those funds are released make sure they are tied to individual aspects of those contracts. While we are doing that, whatever you have as excess, invest those monies in very short term investment processes that would assist the process, either even if it is just on commercial papers or government bonds for that period, so that invariably the value of the money would not be lost.

“Once you do this effectively, it would be difficult for anybody to come back and start looking for variation on those jobs. these things you can put in place as one. Number two, if you need to make things work, you need to be radical about it. radical in the sense that the laws governing procurement and other things have to be further domesticated. What do I mean? You make sure that equipment and items that are bought on yearly basis that are being wished away could have a much longer lifespan.

“For example, in the office you keep buying photocopiers on a yearly basis. Of course you discover that the copier can even last you five to 10 years, when properly maintained. so those monies on those recurrent things that can be used beyond the length of those life-shares could be ploughed back into the system. What happened to those monies? They get stolen and diverted.”

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JUST IN: Senators Fight Over Seats In Newly Renovated Chamber

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A rowdy session marred the resumption of the Senate to plenary on Tuesday as senators fought over the seats.

The plenary had started around 11 am and immediately after the procession, the Senate President, GodsWill Akpabio, read out announcements, specifically the names of the lawmakers who had celebrated their birthdays while the Senate was on break.

It was while the announcement was ongoing that Senator Sahabi Yau (APC, Zamfara North) started to raise his voice at the Senate leader, Opeyemi Bamidele (APC, Ekiti Central) while he in return pointed his finger at Yau as if giving him a stern warning.

READ ALSO: Libel: Delta Court Orders Linda Ikeji To Pay NBM N30m Damages

Immediately, Danjuma Goje (APC, Gombe Central) joined his colleague Yau in shouting at Bamidele and the chairman, of Senate Services, Sunday Karimi (APC, Kogi West) who was in charge of the seating arrangements.

The PUNCH gathered that the fight was triggered by the seating arrangement in the newly renovated hallow chamber.

Some ranking Senators were said to have been angry at the seats allocated to them in the front row on the last right side of the aisle.

The Senate President eventually told them to approach the chair one after the other but Yau didn’t oblige him.

READ ALSO: Sad Story: Nigerian Who Relocated To UK In 2022 Beat Wife To Death With Skateboard

The rowdy session lasted for about 20 minutes as senators bickered.

After the Senate President read his welcome-back speech, the Senate leader, moved that the Senate resolved into a closed-door session.

The Senate after that, at about 12: 05 pm resolved into an executive session.

The Senate had on March 20, adjourned plenary till April 16, but postponed resumption twice to allow for the completion of the chamber which had been under renovation since 2022.

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OPINION: Mike Adenuga’s 71 Resilient Steps

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By Suyi Ayodele

We were in Abuja on an official assignment; one of the entertainment engagements of Globacom then. The phone rang. The leader of the team, a Director in the Marketing Communications Department, looked at all of us sitting at the table, brainstorming on the evening’s assignment. We got the message. The Big Man was at the other end. Silence! We could hear the voice from the other end, though the phone was not on speaker. “Awe o, we need you to be in Johannesburg this evening or first flight tomorrow. Do you have a South African visa?” Our Director responded: “No sir.” “Ok”. The line went off and we resumed our talk.

A few minutes later, the phone rang again and the Director jumped up, picking the phone and moving away from us. We were by the pool side of the hotel. I prayed silently that our boss would not fall inside the pool. He was just nodding his head, with intermittent “Yes sir”; “Mo ngbo yin sir”- I can hear you sir. The call ended and the Director returned to our table. “I need to take my passport in the room. Suyi, tell Tosin (one of the drivers attached to the project) to get the Hilux. We are going to the South African Embassy”, he announced. Minutes later, we were on our way to the embassy. I asked our boss what was in the offing. He responded: “Baba said someone will be waiting at the embassy.”

To cut the long story short, we got to the embassy, and we met a woman waiting for us. We were ushered in and the Director was taken into an inner office. Half an hour later, he came to join me at the waiting room. I asked him again (curiosity won’t kill my cat sha): “Are you getting the visa, today?” He answered that he was asked to wait. We didn’t have to wait long. A young man stepped out of one of the offices and asked our Director to follow him. A few minutes later, the man came out of the office and beckoned on me. In the car, he showed me his passport with the visa approval. Wao! Then, the director sent a message to the Big Man thus: “Thank you sir. I got the visa. Agba yin a dale -may you live long- sir.” The simple response from the Big Man reads: “That is why I am the Chairman. My name opens the door for you.” God, I must be a big man!

FROM THE AUTHOR: OPINION: Onitiri-Abiola And The Madness In Ibadan

Age grades are in three categories in my native place. The first set is known as “Boranje”, which literally means those who don’t give a damn about the consequences of their actions. They have the energy and they represent the restive segment of the society. Those in this category are materials for recruitment into the community’s army. The middle class is the Elekurupa. They are the moderates. They fill the gap between the first and the last categories. They are the intermediate class. The last group are those we call Agba Ule – Council of Elders. This categorisation is at the family level. They are the elders. Their first selling point is their wisdom. Whatever the Elekurupa cannot resolve, the Agba Ule class handles. They only refer very knotty issues to the Agba Ulu- council of community elders. Agba Ulu is presided over by the oba of the town. Incidentally, most Agba Ule are also members of Agba Ulu. So, whatever decisions taken at the level of Agba Ule are mostly sustained by the rulings of Agba Ulu. To get to this last grade, age counts. Depending on the level of longevity in a family, there are cases where people in their early 60s are still in the Elekurupa age grade. Whereas, in some families where they are not blessed with long life, some people in their 50s are already Agba Ule. However, anybody who has crossed the age of 70 is an Agba Ule. One unique mystery about Agba Ule is their ability to stand where others fail and fall. How is it?

There is a saying that illustrates that. It goes thus: Nnkan ti agba fi nje eko ti o ra lowo wa labe ewe. I attempt a transliteration here: what the elder uses in eating eko (corn meal) without smearing his fingers is underneath the leaf. Dr. Mike Adenuga Jr, the Chairman of Globacom, turned 71 years old yesterday, Monday, April 29, 2024. At 71, the man known as Mr. Chairman, is a qualified member of Agba Ule and Agba Ulu. Many things qualify him for that position. I would not be dwelling on those ones here, but, as an eminent Agba Ule, Dr. Adenuga has demonstrated over and over again that the mystery of the successes of his business empire lies only with him. Nothing demonstrates this more than the recent breakdown of the underwater cable services across the West African sub-region a few weeks ago. Globacom, the telecommunication outfit of the Ijebu businessman, has one of the independent, and the only single underwater cable owned solely by an individual, the Glo 1 Submarine cable that runs from Lagos through 13 different countries to the United Kingdom with a point of reference in New York, United States of America.

FROM THE AUTHOR: OPINION: Why Were Miyetti Allah And Tinubu’s Iyaloja In Ibadan?

Whatever it was that happened to other international underwater cables, such as the West Africa Cable System (WACS), the Africa Coast to Europe (ACE) and MainOne, Glo 1 remained standing. The company, Globacom, came up with a statement to reaffirm that its facility was not in any way affected by the damage that caused a lot of disruptions in the telecommunications industry with companies having huge bandwidth suffering unmitigated losses. In a discussion with some people while the submarine cable crisis lasted, someone asked why Glo 1 was spared. My immediate response to that is that the fortune or misfortune of any business concerns depends largely on the mission and vision of the promoter(s) of the business. And this is true with Globacom. It is practically impossible to divorce the resilience of the owner, Dr. Mike Adenuga Jr. from the success of the company.

The underlying principles of “People, Power, Possibilities”, on which the business was established cannot but speak for it when things are tough. If you have ever passed through Globacom, you would realise that ‘impossibility’ means “I’m Possible” in the system. Theirs’ is a diehard, never-say-no spirit which empowers them to navigate through the cruellest terrains. An average mid-level manager in Globacom is a super CEO of any other company. Why? Because Dr. Mike Adenuga Jr. ‘roasts’, ‘cooks’, ‘fries’ and ‘fires’ every fibre of his employees till they become the best anyone can be. The working environment may not be the best; it is no doubt an institution that brings the best out of the individuals in its employ.

In the introductory story of this piece, the Big Man, Dr. Mike Adenuga Jr. was quoted to have said his name opens doors. I think it does more than that. Nigerians will never forget that it is the name, Adenuga, that bailed them out of the financial enslavement of the earlier entrants into the nation’s GSM business by introducing the Per Second Billing System (PSB), at a time they were told it was not technically possible. What about the BlackBerry revolution: didn’t Adenuga’s name open that door? Do we talk about the first deployment of 3G network, rural telephony and cheapest acquisition of telephone and people-friendly and affordable tariffs? Nigeria’s entertainment industry today is what it is because a Dr. Mike Adenuga opened the door of bountiful corporate endorsements for our artistes.

So, if you have ever wondered why Glo 1 stood gidigba while others fell yakata, know that the man behind the business, Dr. Mike Adenuga Jr. is a complete Agba Ule. And as such, know also that Nnkan ti agba fi nje eko ti o ra lowo wa labe ewe!

Here is my toast to the epitome of Nigeria’s resilience at 71! Here is wishing Mr. Chairman many more years in sound health. Happy birthday, the Great Guru himself! Agba yin a dale sir!

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GMOs: HOMEF Trains Gelegele Farmers, Urges Them To Embrace Agroecology

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Health of Mother Earth Foundation (HOMEF) has advised farmers in Gelegele and Nigeria at large to embrace agroecology in their farming activities, saying it is the viable solution to Nigeria’s food crisis.

This is just as the ecological think thank and advocacy organisation urged government at levels to support farmers to embrace agroecology rather than GMOs – Genetically Modified Organisms.

INFO DAILY reports that agroecology is a system of farming that focuses on restoring soil health, improving nutritional diversity and ensuring food sovereignty, while GMO are plants, animals or microorganisms that have had their gentic material manipulated either by introducing genes from a related or unrelated species or by editing the organism within itself.

Speaking at a one-training on agroecology for farmers at Gelegele community in Ovia North East Local Government Area of Edo State, Programmes Director, HOMEF, Joyce Brown, emphasised the need for the farmers to embrace agroecology, saying the use of GMOs poses threat to the environment and human health.

READ ALSO: HOMEF Trains Women On Climate Change Adaptation

She said: “The use of chemical pesticides poses risks to the environment, human health, and the economy. More than 50 per cent of registered pesticides in Nigeria are Highly Hazardous Pesticides (HHPS). Over 40% of the registered active pesticides in Nigeria are already banned in the EU and other countries of the World.

Practical session if the training at Gelegele community on April, 29,2024.

“Many of these HHPs registered and used in Nigeria have been proven to be linked to chronic health diseases such as cancer, kidney diseases, reproductive complications, endocrine disruption – hormonal challenges, skin diseases, organ failures, etc., as well as biodiversity and environmental destruction.”

According to her, most farmers, consumers, extension workers are not aware of the various hazards associated with the pesticide-active ingredients in the products they use, adding that this is the more reason HOMEF decided to take the responsibility of training and enlightening farmers.

Mrs Brown, while noting that agroecology will help Nigeria achieve food sovereignty if embraced, added: “Food sovereignty refers to a situation where all people at all times have access to healthy and nutritious food. Food sovereignty ensures that beyond food security – food is safe, food producers have the right to what they produce and how.”

READ ALSO: NABDA, NACGRAB Merger Dangerous For Nigeria’s Biosafety, HOMEF Warns

On his part, one of the trainers of the farmers and farm manager, Be The Help Foundation, Abuja, Chukwu Agozirim, said agroecology is a modern system farming which, according to him, help to eradicate poverty by increase in food production and making the environment safe for humans

He said Gelegele was selected due to the fact that the soil is contaminated as an oil producing community, adding “so the main purpose is to train and enlighten them on how they can go about their normal food production in spite of the contamination of their soil.”

He added: “We are bringing farming back to the olden days how our great-grandfathers were farming.”

Responding on behalf of other farmers, Mr Emmanuel Obi, while describing the training as an eye opener, promised to adapt the new method of farming.

The programme climaxed with a practical session of the training where the farmers were showed how they can use locally sourced materials to grow their farm produce.

 

 

 

 

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