₦airaland Forum

atobs4real:
Settle those of us that have NIN.

Kuginzi:
Terrorists Are Easy To Contact If Nigerian Government Is Ready To Give Them Education, Healthcare And Stop Bombing Their Wives, Children —Sheikh Gumi




https://saharareporters.com/2024/03/15/terrorists-are-easy-contact-if-nigerian-government-ready-give-them-education-healthcare

JoshTim:
Emmanuela comes to mind

Cantonese:
Where is the too much talk please? Or you want me to lead you by hand to dirty areas of Oyingbo?

Again why avoid Ajegunle, Okokomaiko, Amukoko, Ajangbadi and Ilogbo?

Cantonese:
Do you know Oyingbo at all? Or can you know Oyingbo more than me?

The Ministry of Transport has signed a Memorandum of Understanding with Messrs MPH Rail Development Limited, a United Kingdom company for the implementation of the Port Harcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line project under a public-private partnership framework.

This announcement was made in a statement sighted on Friday on the ministry’s website.

Under the MoU, the UK firm will manage the design, construction, commissioning, operation, and eventual transfer of the Port Harcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line.

The ministry stated that the MoU signing followed the approval of the Outline Business Case and the issuance of a compliance certificate by the Infrastructure, Concession, and Regulatory Commission.

This clearance enables Messrs MPH Rail Development Limited to focus on compiling the necessary documentation for Federal Executive Council approval to advance the project.

The MoU signing ceremony between the minister and the management of Messrs MPH Rail Development Limited was attended by the Permanent Secretary of the Ministry of Transportation, Olufemi Oloruntola, along with the Director of Rail Development, Zirra Fimbarr; and the Director of Legal Services, Pius Oteh.

The Minister of Transportation, Senator Said Alkali, assured all of the ministry’s support for the successful implementation of the project.

He emphasized the importance of diligent preparation and submission of all requisite documents to expedite FEC’s approval.

The statement read in part, “As part of the initiative to consolidate the ongoing railway modernisation projects consistent with the Renewed Hope Agenda of Presidential Bola Ahmed Tinubu’s administration, the Minister of Transportation, Senator Said Ahmed Alkali, has executed a Memorandum of Understanding on behalf of the Federal Ministry of Transportation with Messrs MPH Rail Development (UK) Limited to enable the company to carry out the design, construction, commissioning, operation and transfer of the Port Harcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line on Public – Private Partnership basis.”

The ministry said vital documents required for the project’s progression include a comprehensive feasibility study report, a complete Business Case Study, an Environmental and Social Impact Assessment, the development of a Resettlement Action Plan, and the formulation of a Financial Model to facilitate project implementation.
This ensures that the project’s transfer to the federal government under a PPP arrangement without incurring loans or debts for the Nigerian government or its agencies.

The Central Bank of Nigeria has reiterated that banks operating in the country cannot use their foreign exchange revaluation gains to pay dividends or meet their operational expenses.

In a circular from the apex bank on Thursday signed by the acting Director, the Banking Supervision Department, Adetona Adedeji, banks were warned against such a move.

“Further to our letter dated September 1, 2023, referenced BSD/DIR/CON/LAB/16/020 on the above subject, the Central Bank of Nigeria wishes to reiterate that banks are required to exercise utmost prudence and set aside FCY revaluation gains as a counter-cyclical buffer to cushion any adverse movements in the FX rate.

“In this regard, banks shall not utilise such FX revaluation gains to pay dividends or meet operating expenses.”

The CBN had in September directed Deposit Money Banks to stop utilising gains from their foreign exchange revaluation for dividends and operational expenditures.

In a letter dated September 11, 2023, and signed by then CBN Director, Banking Division Department, Haruna Mustafa, the apex bank said the new directive was expected to be implemented immediately.

Forex revaluation gains occur when there is an increase in the value of a bank’s assets and liabilities denominated in foreign currency due to a change in the exchange rate between the foreign currency and the local currency.


Several Nigerian banks reported high revaluation gains in their third-quarter reports, setting them up to report better figures for the full year.

Some of the lenders that have released their full-year results have posted impressive performance.

In the September circular, the CBN assessed the consequences of the recent FX rate regime change on the banking system and identified its potential to substantially impact the naira values of banks’ foreign currency assets and liabilities.

“The bank thus approved the following prudential guidance and directives for immediate implementation by banks. Treatment of FX Revaluation Gains: Banks are required to exercise utmost prudence and set aside the FCY revaluation gains as a counter-cyclical buffer to cushion any future adverse movements in the FX rate. In this regard, banks shall not utilise such FX revaluation gains to pay dividends or meet operating expenses.

“Single Obligor Limit (SOL): Banks that inadvertently breach the Single Obligor Limit (SOL) due to the FX policy will be granted forbearance upon application to the CBN. The forbearance shall apply only to existing facilities as of the effective date of this policy. Such banks shall be exempted from the regulatory deductions on the excess above the SOL limit in their CAR computation.

“Net Open Position Limit: Banks that exceed the NOP prudential limits due to the FX revaluation shall be granted forbearance for the breach upon application,” the circular partly read.

CodeTemplar:
Wetin concern Obi with subsidy reintroduction again bros?

CodeTemplar:
Subsidy is back and our neighbours are getting cheap fuel via our imports. That's the meaning.

Heffalump:
It'll n happen!

I can say that NNPC is playing some political gimmicks in the defense of the abysmal performance of this APC government. Around December 2023 they lied that PH refinery has started operations. Some of us knew it was a big lie because we get direct updates on the progress of work.

We're in an era of psycophancy!

9jaRealist:
Exactly! Ibadan is finally catching up with the TWENTIETH (20th) century…
>

TruthsFM:
"Igbos understand the game of money, they will survive in Tinubu government" - Pastor says.
The Female Igbo Pastor goes ahead to expressed herself in her sermon that Igbo business men and women aren’t crying under Tinubu government.


https://www.youtube.com/watch?v=bL0M8lwHIN8?si=JOO4rHn1o_KnFXMr

MichaelSokoto:
Stop deceiving urself!

Wake up!

Gossiphub:
Sharrap please.

Your student loan kickstart that you boasted would be on Thursday is now postponed indefinitely.

Stop this high level of sychophancy for your mental health.

budaatum:
I don't know if he's lying. What I do know is I'll find out in two weeks.

budaatum:
There is no way he could be telling them lies?

Guess my place is booked. 2 weeks soon pass.

epainos:
Oga court order, we don hear. Maybe that agf is your boy or tinubu's boy. That court order sef...if you don't know...forget it. Na your kind dey carry last dey form bookish. Dem don dance azonto on yoyr head...kon finish the party with makosa. A beg, a don hear.

coputa:
Senate President Godswill Akpabio yesterday inaugurated an ad hoc committee to investigate the N30 trillion Ways and Means Advances released by the Central Bank of Nigeria (CBN) to fund projects under former President Muhammadu Buhari’s administration.

epainos:
E dey even post a link. Omo ....na wa oooo.

Clue: Who does the chief judge of the Federal Republic of Nigeria answer to in this present Nigeria? Dey play. So, the judge just woke up and decided to open the case. The judge and Babangida get wahala? Did Babaginda pikin sleep with his wife? Dey play. Post other links you have.