Business
FG Assures Payment Of Salaries Before Christmas
The office of the
Accountant General of the Federation (AGF) says it is upgrading the Government Integrated Financial Management Information System (GIFMIS) to ensure payment of December salary before Christmas.
The Director of Funds in the office, Mr Mohammed Dikwa, stated this in an interview with newsmen in Abuja on the sideline of a one-day workshop on the Treasury Single Account and e-payment/collection recently.
Dikwa said that the system would be shut down soon for the upgrade.
“The essence of the shut down is for maintenance. Some people complained that they couldn’t have access over the last few weeks because of the queue management challenge.
“We want to upgrade the infrastructure that we have over the weekend so that by today all payments will go on smoothly.
“If you look at the trend, people find it difficult to have access easily because the infrastructure was not strong enough to effectively handle the queue management.
“But with the new improvement, the system will be easily accessed, there will be seamless transactions, and people will get their money before Christmas particularly salaries and other financial commitments of government.
“I want to assure all Federal civil servants that, God willing, they will get their salaries before Christmas because we will try as much as possible to pay the salaries before that time.
“We hope to have the Federation Account Allocation Committee meeting much more earlier and that will give us the room to have more money into the consolidated revenue of the federal government that will be used for the purpose of paying salaries and other commitments of government as far as this financial year is concerned.’’
Earlier at the workshop, Dikwa, who represented the AGF, Alhaji Ahmed Idris, said that the maintenance was to enhance the capability of the system to address the issue of queue management and other associated operational challenges.
The Tide source reports that GIFMIS is an information technology based system for budget management and accounting that is being implemented by the federal government.
The aim is to improve public expenditure management processes and to enhance greater accountability and transparency across ministries and agencies.
In her remarks at the workshop, the acting Head of the Civil Service of the Federation, Mrs Wilnifred Oyo-Ita, said the workshop was an opportunity for stakeholders to deliberate on the challenges associated with the TSA implementation.
Oyo-Ita, who was represented by the Permanent Secretary in her office, Mr Yemi Adelakun, said that the outcome of the workshop would provide the much needed feedback for policy evaluation and review.
The Tide further reports that the workshop was organised by Jk Consulting Company Limited in collaboration with the Office of the Account-General of the Federation.
Participants included senior account officers and internal auditors of ministries, departments and agencies of the federal government.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter