City Crime
Senate Blasts BOI Boss Over Loan Beneficiaries
The Managing Director of Bank of Industry (BOI), Olukayode Pitan, came under fire in Senate on Wednesday, for not knowing the beneficiaries of loans given out by the bank across the country.
The BOI boss ran into trouble while making submissions before the Senate Committee on Industry for 2022 budget defence.
Mr. Pitan in his comment on loans given out by the bank, claimed that the bank does not know the loan beneficiaries, but the destination of the loan.
“Loans are given to commercial banks that provide guarantees, which then forwarded the money to the beneficiaries,” he said.
Angered by his submission, the trio of Senators Adamu Bulkachuwa (APC Bauchi North), Christopher Ekpenyong (PDP Akwa Ibom North West) and Danjuma La’ah (PDP Kaduna South) , said that they were in dark about the activities of Bank of Industry in their Senatorial Districts.
Senator La’ah said, “I don’t know what is going on with Bank of Industry activities in my Senatorial district.”
Senator Ekpenyong also lamented that most members of his Senatorial District were unable to access loans from Bank of Industry, adding Union Bank and United Bank of Africa (UBA) did not give Bank Gurantee to his people.
Senator Bulkachuwa said, “The MD/CEO, you made comments while trying to answer my questions on the distributions of loan beneficiaries. You actually said that you were not in the position to know exactly where these loans are going to, with regards to the geopolitical areas of the country.
“Does it mean that the Bank of Industry does not know where the loans are going to and where the actual beneficiaries are located in the country?
“If you don’t know , we are interested in knowing where those loans go to.
“You, the giver of the loan should be more interested in the loan and where each kobo you give out is going and which part of the country is benefiting. You should be able to know. You should not leave it for the commercial banks to handle alone.
“Our interest is to know how the bank of industry is performing its duty in terms of ensuring that industries are spread across the country.”
Mr. Pitan responded by saying that the senator misunderstood him, stressing that BOI was alive to its mandate.
“We know where every kobo goes to, but not the beneficiaries because we are not the one determining the beneficiaries.
“The commercial banks are the ones that give guarantees because they are the ones that would finalise the process.
“They determine where the loans go but there is no loan that goes out of the Bank of Industry that we on our own, don’t analyse. It is a requirement every month for the Bank of Industry to provide the document. We know exactly where our monies are.”
The Committee chaired by Senator Tokunbo Abiru (APC Lagos East), also expressed dissatisfaction with meagre allocation for the Micro, Small and Medium Enterprises which are the real drivers of economy in 2021 budget.
The Bank of Industry in 2021 budget released N165 billion to large enterprises in the country while Micro, Small and Medium Enterprises got N40 billion as at September, 2021.
But the Managing Director of BOI while defending the meagre allocation Micro, Small and Medium Enterprises said most people at that level were not ready to repay the loan, believing that the money was government money.
The Rivers State Government has vowed to enforce strict compliance with approved building plans by property owners and developers in the State to guarantee safety and adherence to regulatory standards.
The Commissioner for Physical Planning and Urban Development, Rt. Hon. Evans Bipi, in his inaugural meeting with the Permanent Secretary, Directors and staff of the Ministry, said he would ensure full implementation of the Physical Planning Development Law of the State.
He warned that the Rivers State Government will no longer condone a situation where developers make deliberate adjustment or completely deviate from approved building plan in the execution of their projects without recourse to the Ministry.
Hon. Bipi solicited the cooperation of the civil servants of the Ministry while promising to run an open door policy and be easily accessible.
He also promised to right the wrongs, make a positive impact and leave an enduring legacy in the Ministry.
He promised to enhance the physical landscape and aesthetic of Old and New GRA as well as other parts of Port Harcourt.
In his remarks, the Permanent Secretary of the Ministry of Physical Planning and Urban Development, Surv. Wisdom Hebron, assured the Commissioner of maximum cooperation to foster a harmonious working environment.
Rivers State Governor, Sir Siminalayi Fubara, has approved the payment of N85,000.00 as the new minimum wage for civil servants in the employ of the Rivers State Government.
This is the agreement reached during a closed door meeting presided over by the Governor and attended by representatives of organised labour under the auspices of the Joint Public Service Negotiating Council in the State at Government House in Port Harcourt on Friday.
Briefing newsmen after the meeting, the Head of Rivers State Civil Service, Dr George Nwaeke, who spoke on behalf of the Government, affirmed that Governor Fubara has graciously approved a new minimum wage of N85,000.00, adding that the government will begin in November, 2024.
Dr George said, “He (Gov Fubara) has pronounced a figure that is higher than the National Minimum Wage. He pronounced a sum of N85,000.00, which is higher than the minimum wage that was prescribed nationally.
“So, as the Head of Service and a major stakeholder in the labour family, I am very happy to say that the Rivers State Civil Servants have never had it this good since the inception of this State.
“The labour union leaders and all the other major stakeholders were happy with this development,” he added.
Responding to possible payment of arrears, Dr Nwaeke, said it is yet to be determined because a technical committee has been set up to critically work out a tenable payment chart, which will cater to issues of arrears.
He clarified, “Issues of arrears will be worked out by the committee that I am going to be Deputy to the SSG. We are already going to work on it in a technical committee that will now get the nitty gritty of the payment and inform the press later.”
On his part, the Rivers State Chairman of the Joint Public Service Negotiating Council, Comrade Emecheta Chuku, explained that this is their first meeting with Governor Fubara to discuss the issue of the new minimum wage as approved by the Federal Government of Nigeria.
Comrade Chuku pointed to the fact that the gracious approval of N85,000.00 new minimum wage is very appeasing to the labour leaders, adding that it demonstrates love for the workers.
He explained, “For the Governor to come, against all the crisis, against all the things that he is facing and more, to say he will pay N85,000.00 minimum wage, I think our hearts are full of joy.
“Of course, we have no doubt, knowing the kind of person we have as our Governor. He is a decent man; very responsible enough; and grew through the rank and file of the system. He understands what it takes to earn a living salary; he understands the difference between gifting money and paying somebody salary that can sustain him or her from the first day to the last day of the month.”
Also speaking, the Chairman, Nigeria Labour Congress (NLC), Rivers State Chapter, Comrade Alex Agwanwor, noted that the amount approved by Governor Fubara puts Rivers State Government ahead of Lagos State as the highest minimum wage paying State to civil servants in Nigeria.
He stressed, “Why do I say that? Lagos State said N85,000.00 and Rivers State is paying N85,000.00. The IGRs of Lagos State and Rivers State are not the same. So, for the Governor to agree to pay the same rate with Lagos, that means we are at the top of it.
“We are the best, and we want to continue to commend the Governor. We assure him that, as far as this State is concerned, labour is going to stand with him. We will be with him even until the next eight years.
“I want to commend His Excellency, Executive Governor of Rivers State, our own Number One Worker in Rivers State, he has, once again, proven that the workers in Rivers State gave him an award on May Day as the Champion of Labour, as the Most Labour-Friendly Governor in Nigeria. He, again, has shown that to us today, and I want to commend him.”
He added that they were returning to the State Secretariat Complex to inform workers of the Governor’s magnanimity and benevolence towards civil servants in the State.
Rivers State Governor, Sir Siminalayi Fubara, has felicitated Muslim faithful as they celebrate the birth of Prophet Muhammad, urging them to show love, tolerance, perseverance, patriotism and commitment to the growth and development of the State.
Governor Fubara, in a message in Port Harcourt, the State capital, urged the Muslim Ummah to use the lessons of the 12th day of the third month of Rabi’ al-Awwal to reflect on the core teachings of the Holy Prophet, and interceed for one another as exemplified by the sacrifices He made for humanity.
The Governor charged the faithful in the State and across the country to commit to ensuring that they continue to benefit from the genuine policies and programmes of government put in place to make live easy for all living and doing business in the State, without discrimination.
He said, “I, on behalf of the government and good people of Rivers State, heartily felicitate all Muslim faithful on the occasion of the Eid-el-Maulud celebration, to honour the birth of the Holy Prophet Muhammad, and urge for prayers for the revival and unity of Nigeria.
“The occasion, yet again, provides an opportunity to reflect deeply on the need for greater application of the Prophet’s teachings bordering on piety, charity, patience, resilience, justice and peaceful coexistence,” he added.
Governor Fubara assured the Muslim community in Rivers State, and indeed, all residents of the resolve of his administration to sustain the tempo of providing critical projects and social services to improve the quality of life of the people.
