Sunday, July 21, 2024

WE'LL CONTINUE TO INVEST IN AKWA IBOM AND OUR PEOPLE - GOV UMO ENO


... Acknowledges receipt of Palliative from FG


Akwa Ibom State Governor, Pastor Umo Eno, has reiterated the government's resolve to continuously invest in the development of the State  and its future for the greater good of the citizenry.

Speaking at the July edition of Government House monthly prayer service at the Latter House Chapel, Governor's Lodge, Uyo, he noted that every investment embarked upon by the government is well analysed to ensure good return on investments.

He said the current administration under his leadership, met a prime property in Lagos lying fallow with no revenue to the State, adding that there is need to commercialise it, especially as the real estate market is very profitable.

The State Chief Executive noted that the investment plans of the State government wouldn't stop other development projects across the State, adding, "we will continue to invest in Akwa Ibom. Every investment we are doing is carefully planned. We don't just wake up to do it. We take our time and annalise it. That's why AKICORP is there. We need to invest for our State, our future, and we are very intentional about things. 

"This will not stop the rural development we are doing, but we must also know that a day will come, and maybe in the future when we will be able to reap from the investment we are doing today. 

"I have said it here before, I met prime properties of this state in Lagos and Abuja. Our forebears acquired these properties, but nothing was realized from it by way of income, and in these days when any government wants its property, and they realise it is abandoned, they revoke the C of O, and when they revoke it, there is nothing you can do. 

"We needed to commercialize those properties. I am not doing it in my name. It is for the State. We need to benefit from the real estate market in this country, which is very profitable, and that is why we are investing in it. 

"So to be clear, we are not taking Akwa Ibom money anyway. It is Akwa Ibom people that will work there. We have Akwa Ibom people in Lagos and Abuja. So we are converting those buildings to commercial buildings. That is what we are doing, and I believe that's what you hired me to do," he added.

Governor Eno acknowledged that the State was currently benefiting from the investment plans of previous administrations, adding that efforts must be made to continuously invest in the future of the State, irrespective of the current economic hardship.

He acknowledged that the State had received 24 , 000 of 25kg bags of rice from the Federal Government, adding that the State has added another 24, 000 of 25kg bags, making it 48, 000.

The Governor, who is reputed for his compassionate disposition, said 20 bags of rice will be distributed to each of the 2,272 gazetted villages in the state.

He noted that the bulk purchase/food voucher programme was  in progress adding that government plans to step it up in August by getting involved in the purchase of the food items and redemption of food vouchers at the different local government areas.

Governor Eno, however, stressed that beyond the palliative, everyone should return to farm and key into the different agricultural support programmes of the State government to ensure food sufficiency in the State.

On the forthcoming local government elections, he appealed to stakeholders across the State to avoid heating up the polity but to respect zoning and support aspirants with the capacity to win election and deliver democracy dividends.

He appreciated everyone for attending the Monthly Prayer Service and assured that, with prayers, vision, and faith, the State will continue to remain peaceful and a land of fulfilment.

Earlier in his message, on the theme, "There remains very much land to possess," taken from Joshua 1:1-9, the guest minister, Pastor Akomaye Ugar of the Honeystreams Christian Centre said the State has more land to possess but must have faith in God and have vision with a blueprint for implementation.

Saturday, July 20, 2024

CBN directs banks to send funds in dormant accounts, unclaimed balances to apex bank

statement said that the directive followed engagement and consultations with relevant stakeholders.

 • JULY 19, 2024

The CBN hereby issues the revised guidelines on the management of dormant accounts, unclaimed balances and other financial assets in banks and other financial institutions in Nigeria to banks and other financial institutions for implementation.

This is sequel to the conclusion of the review of the Guidelines on the Management of Dormant Accounts and Other Unclaimed Funds by Banks and Other Financial Institutions in Nigeria issued in October 2015.

The revised Guidelines, which operationalises Section 72 of the Banks and Other Financial Institutions Act (BOFIA) 2020, followed engagement and consultations with relevant stakeholders, whose comments and recommendations were considered in the review process. It, amongst others, standardises the management of dormant accounts, unclaimed balances and financial assets, and outlines the procedure for the administration of these balances, funds, and assets by banks and other financial institutions in Nigeria.

The modalities for the transfer of the relevant balances/funds/ assets to the CBN, together with the revised templates for the rendition of quarterly returns to Banking Supervision Department or Other Financial Institutions Supervision Department (as the case may be) will be communicated subsequently.

This Guidelines supersedes the Guidelines on the Management of Dormant Accounts and Other Unclaimed Funds by Banks and Other Financial Institutions in Nigeria, issued in October 2015 and takes effect immediately.

Signed

JOHN S. ONOJAH

Ag. DIRECTOR, FINANCIAL POLICY & REGULATION DEPARTMENT