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#EndSARS: Governor Uzodimma approves N2bn for youth empowerment after talks with protesters 

Governor Uzodinma has approved the immediate release of N2 billion for youth empowerment.

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#EndSARS: Governor Uzodimma approves N2bn for youth empowerment after talks with protesters , Ogun, Imo States give free hand sanitizers

Governor Hope Uzodimma of Imo State has approved the immediate release of N2 billion for youth empowerment, following a fruitful meeting with a group of youths associated with the #EndSARS movement in the State. 

This disclosure was made by Governor Hope Uzodinma in his statement today, during his third state Broadcast to the people of Imo State, this week. 

READ: CBN offers corps members loans for a 7-year tenor

The Governor in his statement said that his heart is gladdened that a vast majority of the youth heeded the clarion calls to call off the #EndSARS protests, having laid down their points unmistakably. 

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READ: FG launches application for N75 billion Youth Investment Fund at 5% interest, how to apply

However, he revealed that in line with his determination to address the needs of the youth and empower them, he has approved an immediate release of a take-off fund of N2 billion for the empowerment of youth in the state. 

He reiterated that the task is not complete until every single youth is pulled off our streets and kept a safe distance away from the reach of some unscrupulous elements whose demonic desire is to unleash endless carnage in some parts of the state. 

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READ: GTBank, Zenith, Access, FBN, 10 others spend over N8 billion on CSR

What you should know 

Recall that the governor on the met with a group of youths embedded in the EndSARS protests. The group was made up of youth leaders from all parts of the country comprising leaders from the National Youth Council of Nigeria, Areewa, Ohanaeze, Afenifere, Hausa, Fulani, Middle belt and Niger Delta Youths 

However, during his interface with the youth, he assured them of a dedicated empowerment package, as part of his administration’s determination to address the needs of the youths and quell their dissatisfaction. 

READ: #ENDSARS Protests: Why this is different

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  • The N2 billion take-off fund will be deployed for the training of the first batch of the beneficiaries, which will commence next week. The N2billion take-off fund is to be taken from the N6 billion earmarked for the accelerated youth empowerment programme. 
  • The empowerment programme is under the Imo State Special Youth Empowerment and Intervention Programme (IMYEIP). The State’s Ministry of Skills Acquisition and Entrepreneurship is directly charged with its immediate implementation. 
  • The programme is to begin training of the 1st, 2nd & 3rd Batches of an estimated number of 500, 000 Imo youths in different skills acquisition programmes within the next two years, and provide them with start-up capital to begin their own enterprises. 
  •  The training time table will be rolled out on Tuesday, October 27th, 2020. 
  • The 5000 Imo Youths who have already been trained in different skills under the IMYEIP platform, are to be given their start-up capital very soon. 

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1 Comment

1 Comment

  1. Stanley

    October 25, 2020 at 10:44 pm

    These are short term and unsustainable palliatives. Governors should give better accounts of their allocations and IGRs aside from just paying salaries. It is their responsibility to spur the economic development of their states thru support for local industries and attraction of related investments by providing the enabling environment. Many states in Nigeria are so bare, basic and economic deserts, thanks to successive governors. Unfortunately, these clueless governors keep waiting for the federal government to develop their states for them despite the high rates of unemployment obtainable there. They may complain of insufficient allocation from Abuja, but there is no proof that things would improve with higher allocation when they have not given a good account of their previous and current allocations. Also, shouldn’t every state be aspiring towards self sufficiency, after all, crude oil income has proven to be unreliable and grossly insufficient in supporting Nigerian budget in recent times.

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Business

COVID-19: CACOVID spent N43.27 billion to support 3 key priorities – CBN

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CACOVID devotes N23 billion to feed Nigerians

The Central Bank of Nigeria (CBN) has revealed that the Coalition Alliance Against COVID-19 (CACOVID) has so far incurred an expenditure of N43.27billion on the acquisition of, not only medical equipment and supplies but also food palliatives for vulnerable Nigerians.

The recent press release noted that the funds raised by CACOVID was used to support 3 key priorities – Medical facilities and equipment, food relief programs and communications plans.

The breakdown of the expenditure in the aforementioned areas are:

  • Medical Facilities and equipment: In collaboration with other stakeholders, CACOVID developed 39 fully equipped isolation centers across the 36 States of the Country including the Federal Capital Territory (FCT). The sum of N4.19billion was spent in Building Isolation Centers. In addition, medical equipment such as PCR test kits for suspected cases of COVID-19 were procured along with other required medical items at a cost of N9.02billion.
  • Food relief programs: As a way of cushioning the impact of the lockdown on vulnerable citizens, CACOVID provided palliatives in the form of essential food items to 1.7million households, which is equivalent to supporting 8 million Nigerians. A total of N28.76billion was spent procuring these food supplies.
  • Communication plans: CACOVID also worked to improve awareness in rural communities on the COVID-19 virus, and the measures community health workers and other members of society should take when someone in the community is suspected of having symptoms similar to that of COVID-19. In lieu of this, expenses were incurred on Print, TV, radio, and social media as part of CACOVID communication plans.

Why this matters

The recent disclosure is in line with the principle of accountability and transparency, as the organization seeks to lay bare facts regarding expenditure incurred so far; thereby, nipping in the bud, suspicions and unfounded rumor.

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What you should know

Due to the sudden global health challenge (COVID-19), which wreaked havoc on most economies of the world, coupled with declining oil prices and declined government revenue; the Bankers Committee, comprising the Central Bank of Nigeria and the Deposit Money Banks, as well as key stakeholders in the private sector came together to set up an alliance in March 2020, known as the Coalition Alliance Against COVID-19 (CACOVID).

The ultimate objective is working with the government to provide support in areas that would result in improved health and welfare for vulnerable Nigerians.

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Companies

PZ Cusson announces retirement of Chairman, Kola Jamodu

PZ has announced the retirement Chief Kola Jamodu as Non-Executive Director and Chairman of the Board of the company.

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Kola Jamodu

The Board of Directors of PZ Cussons Nigeria Plc has announced the retirement of Chief Kola Jamodu as Non-Executive Director and Chairman of the Board of the company.

This disclosure was made in a notification signed by the Company’s Secretary, Jacqueline Ezeokwelume, and sent to the floor of the Nigerian Stock Exchange.

According to the notification issued by Mrs. Ezeokwelume, Chief Kola Jamodu will retire as a Non-Executive Director and Chairman of the Board effective 11 December 2020 to enable him to pursue other personal endeavours.

What you should know

Chief Jamodu joined PZ Cussons Group in 1974 and served in Executive positions for 24 years rising to the position of Chief Executive Officer of the Company, a position he held until he retired in 1999.

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He thereafter continued as a Non-Executive Chairman of the Board until 2001 when he was appointed as the Honourable Minister of Industry of the Federal Republic of Nigeria, a position he held until 2003.

He was reappointed as the Chairman of the Board of PZ Cussons Nigeria Plc in November 2014.

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Appointments

Abbey Mortgage Bank announces appointment of 6 Directors

The Central Bank of Nigeria has approved the appointment of 6 Directors of Abbey Mortgage Bank.

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Abbey Mortgage Bank announce the appointment of substantive Managing Director, and 5 Directors.

Abbey Mortgage Bank has announced the appointment of 6 Directors, including Mr. Madu Hamman as the substantive Managing Director.

The disclosure is contained in a notification, signed by the Bank’s Secretary, Geoff Amaghereon Esq. and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.

What you should know

Five (5) other Directors were appointed by the CBN – 2 Executive and 3 Non-Executive Directors.

The names and portfolios of the Directors are; Mr. Mobolaji Adewumi – Executive Director; Mr. Oladipupo Ayodele Adeoye – Executive Director; Mr. Nonso Okpala – Non-Executive Director; Professor Marius N. Umego – Non-Executive Director; and Brigadier-General John Obasa (rtd) – Non-Executive Director.

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The notice also mentioned that all appointments have been approved by the Central Bank of Nigeria.

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