South East
Subscribe To FG’s Savings Bond, D-G Tells Nigerians
The Director-General of debt Management Office (DMO), Mr Abraham Nwankwo, has urged Nigerians to take advantage of the new Federal Government’s Savings Bond (FGNSB) for their benefit.
Nwankwo made the call during a grassroots advocacy and sensitisation campaign on the FGNSB in Onitsha last Thursday.
He emphasised that the development pillar of President Muhammadu Buhari was geared toward the progress of Nigerians and the development of the country.
“One of the major challenges of Nigerian economy growth is that a large number of the people are getting poorer because they don’t participate in the process of development.
“The DMO, therefore, has decided that the opportunity which had been made available to only external entities and big domestic sources including wealthy individuals should be extended to all Nigerians,” Nwankwo said.
He explained that citizens’ participation in the FGNSB would encourage an inclusive economy as against financial and economic dualism.
According to him, the new scheme which allows all segments to lend from the Federal Government will ensure the nation’s growth and development and create profit for lenders through capital market.
The director-general assured Nigerians that the Federal Government would never default in the bond, adding that all borrowings used for budget implementation were approved by law.
“You will never lose your money even if there is a change in government.
“We assure you that there is adequate security for your money because it is not just possible for the Federal Government to default,” Nwankwo stressed.
Also speaking, Mr Oladele Afolabi, Director, Portfolio Management Department, DMO, explained that Nigerians could subscribe as low as N5, 000 with additions in multiples of N1, 000 to a maximum of N50 million.
Afolabi, who noted that the FGNSB would be issued monthly in tenors of two and three years, said the interest which will be paid quarterly is exempted from taxes”.
The director said FGNSB was an opportunity for investors to contribute to national development and also to improving the saving culture in the country.
“The FGNSB is acceptable as collateral for loans in banks and is good for savings towards retirement, marriage, school fees and housing project, among others,” he said.
In their separate remarks, the Chairman of the Nigerian Bar Association (NBA), Onitsha branch, Mr Chibuzor Ikenna and the Secretary of Onitsha Main Market, Mr Nwabueze Egwuatu embraced the initiative.
Ikenna, Egwuatu and Mr Emmanuel Anagor, the Chairman of Power Tools and Allied Products Dealers Association, Onitsha, called for more enlightenment to enable more members benefit from the gesture.
The police in Ebonyi State say they have discovered the body of a yet to be identified middle-aged woman in a hotel room in Abakaliki, the state capital. The spokesperson of the police in the state, Loveth Odah, stated this yesterday.
She said the body has deep cuts on the chest and neck and has been deposited in a mortuary. According to the spokesman, it was discovered at Crown Garden Hotel located along the ever-busy Afikpo road in the capital city.
Mrs Odah, who said that the victim was found in the pool of her own blood, said the suspect had been identified as one Uchenna Awoke.
She said the hotel manager, Emmanuel Eze, the supervisor, and other workers had been taken to the police station for questioning and accused the hotel management of negligence.
“The manager of the hotel, the supervisor and other staff of the hotel were taken to the station for questioning and I must confess to you that the whole thing is negligence on the part of the hotel management. How can a guest be murdered in a hotel room and days after, the management is not aware of the incident.”
“We will investigate the matter properly and I assure you, the perpetrator of the act must be arrested and prosecuted. All we are asking is for the members of the public to avail the police of useful information that will lead to the arrest of the suspect.”
The Senate yesterday passed the South East Development Commission (Establishment) Bill 2018.
The proposed commission aims at enhancing the infrastructural development of the South East zone, which is grappling with huge ecological challenges.
It also seeks to act as a catalyst for the development of the commercial potential of the zone.
The proposed legislation requires the concurrence of the House of Representatives to become a bill of the National Assembly, and the President’s assent to become a law.
Senators Stella Oduah (PDP-Anambra) and Samuel Anyanwu (PDP-Imo) jointly sponsored the bill read in the Senate on June 22, 2016.
Its passage in the Red Chamber followed the presentation of the report of the Committee on Establishment and Public Service by its former Chairman, Senator Emmanuel Paulker (PDP-Bayelsa), on the floor of the Senate.
The bill, after Paulker’s presentation, was considered clause by clause by the committee of the whole, and amendments made by the lawmakers were read for the third time and eventually passed.
In his remarks, presiding Deputy President of the Senate, Ike Ekweremadu, commended his colleagues for a job well done.
In his words, “Every morning we pray that God should give us the grace to do only those things that will promote the peace and unity of this country.
“I believe that we have shown today that we are committed to the unity of this country, and it is this unity that will give us faith in this country.
“This faith will in turn help us to pursue peace and progress,” he said.
Briefing newsmen after plenary, members the South East caucus of the Senate, led by Sen. Enhinnaya Abaribe (PDP-Abia), thanked their colleagues and members of the committee for their efforts.
Abaribe, who spoke on behalf of the caucus, urged the President to sign the bill into law “as soon as we tidy it up and bring to him, in the interest of the unity and progress of Nigeria”.
“This will put to rest the long-drawn agitation in the South East, and the difficulties in the rehabilitation and reconciliation efforts that started at the end of the civil war.
“All things we see always will end up at the negotiating table, which is what we have done,” he said.
The lawmaker said he hoped the House of Representatives would give concurrence to the bill as it went in the Senate.
When established, the South East Development Commission would be the third zonal interventionist body in the country.
Bishop David Oyedepo, the Founder and Presideng Bishop, Living Faith Church Worldwide, on Saturday predicted that nothing would disturb the peace of Nigeria and its story would change for the better in the year 2019.
Oyedepo made the declaration at the just concluded annual prophetic gathering of the Winners’ family, christened the “Dominion”, in a satellite telecast of the church.
In the telecast monitored in Abuja, the cleric also declared that 2019 would be a year of “I have Dominion”.
“Nothing will tamper with the peace of Nigeria; the story will change for the better in the name of Jesus.
“Nigeria shall not see bloodshed, the Prince of Peace will continue to dominate in Nigeria, in Africa and Nigeria is declared blessed.
“Anywhere you step, accident is forbidden; death will not come near you and our nation.
“Anything that is of grace in my life, I freely release upon you today.
“God has opened the year 2019 to us, celebrate Him because its our year of “I have Dominion,” he said.
The Bishop added that the year 2019 would be a year of humbling testimonies for Nigeria and pace-setting testimonies.
He further declared that 2019 would be a colourful year for the nation.
According to the cleric, as long as Jesus has the final say on the issues of Nigeria, it will experience greatness.
Oyedepo said that there would be no more cause of alarm in any area of the nation and its citizens.
He advised Christians in Nigeria to delight themselves in the spirit of servant-hood, adding that the spirit of Christ is the spirit of servant-hood.
“The Spirit of Christ is the spirit of servant-hood. As you keep rising on the ladder of leadership, you must retain our spirit of servant-hood, constantly working to add value to others and be kingdom minded,” he said.
According to him, dedication is at the root of dominion, saying: “Sow yourself as a seed by being totally dedicated to God and His Kingdom’’.
He told his congregation that sacrificial giving guarantees the meeting of all their needs.
“When you engage in taking care of the well-being of others, God is also committed to your well-being,” he explained. The cleric admonished Christians would engage in meeting the needs of the needy, every barrier on their path of destiny would be crushed.
“Nobody tampers with your life, your career, your family and goes away with it because you are promoted to God’s kingdom.
“God will stand for your defence in the day of trouble. Every sacrificial giver has a defence around him in the day of trouble always have that in mind,” he said.
He reminded his congregation that the Church is not a building; the Church is a people and the Redeemed of the Lord.