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Business

FG says the country’s land borders to be reopened soon

The FG has disclosed that the nation’s land borders could be reopened soon, after being closed for over a year.

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land borders to be reopened soon, Finance, Ministaer, vow to recover AMCON debt through issuance of promissory notes, FG reiterates stance on IPPIS as ASUU threatens strike, Finance Minister, Zainab Ahmed identifies capital market as key driver for economic growth , Nigeria has paid $1.09 billion to service its debts in 2019  , Dividends on oil proceeds will be taxed - FG , State governments own most bad roads - Finance Minister says, Budget deficit increases by N351.98 billion, as FG misses revenue target, Economy: Funding MSMEs in Nigeria , Finance Bill: New tax regime to take effect from Jan 2 - FG , Again, Finance Minister argues that Nigeria is not in debt distress , ECOWAS: Single currency regime not kicking off in 2020  , FG: CBN holds N43 billion stamp duty charges collected by banks , FG may shift deadline to deactivate bank accounts without tax verification, Confusion as ministry and presidency disagree over Finance Act start date, 7.5% VAT: Implementation to begin Feb 1 – FG , Finance Minister: Nigeria to go into recession if ..., Foreign tech companies that will now pay tax to FGN: see the criteria

The Federal Government has announced that the country’s land borders which have been closed since August 2019 may be reopened soon.

The country’s various borders were shut down to curtail the smuggling and illegal importation of drugs, small arms, food and agricultural products into the country and even the smuggling of petrol from Nigeria to neighbouring West African countries.

READ: Ghanaian govt defends $1million trader’s levy, faults Nigerian borders’ closure

READ: Border Closure: Open land borders for all not only Dangote Cement – Atedo Peterside

This disclosure was made by the Minister of Finance, Budget and National Planning, Zainab Ahmed, during a media chat with State House correspondents on Wednesday, November 25, 2020, in Abuja.

According to a report by Punch, Ahmed revealed that the presidential committee set up to look into the matter has completed its assignment and has recommended the reopening of the borders.

READ: FIRS rakes in N4.178 trillion revenue, achieves 98.6% of revenue target

READ: Border Closure: Afreximbank boss demands use of Blockchain technology

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Although the minister did not disclose when the report will be submitted, she, however, said the committee would soon submit its report to President Muhammadu Buhari after which a formal pronouncement would be made on the matter.

Details later…

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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    Business

    Digital ID will help drive financial inclusion – VP Osinbajo

    FG to ensure a friendly business environment is created to promote ease of doing business in Nigeria.

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    Digital Identification is one of the keys to driving financial inclusion in Nigeria.

    This was disclosed by Vice President Yemi Osinbajo during his facility visit to SecureID, a smart card manufacturing and digital solutions company, on Tuesday.

    According to Osinbajo, Digital ID would help Nigerians, especially the ones that are not financially inclusive, operate in the global space.

    He also assured entrepreneurs that the President Muhammadu Buhari led administration would ensure a friendly business environment is created to aid ease of doing business in Nigeria.

    He said, “Environment must be friendly for local investors first before foreign investors come in. Today marks a momentous occasion in the history of the technology and manufacturing sector, and I am delighted to be a part of it.

    “SecureID Limited has proved to us with this state-of-the-art manufacturing plant that local production of smart cards at the highest quality is not only viable in Nigeria but also brings a plethora of opportunities with it for Africa.

    “I must commend this indigenous company for laying the precedent for other local manufacturers to follow. I must also congratulate the founder and CEO, Kofo Akinkugbe, who through her grit and passion to contribute to the growth of the economy, has committed innumerable resources and manpower to bring this factory to fruition.

    “It warms my heart to see a woman take charge and create something indelible for other young women to emulate. She is an attestation to the fact that women are dependable collaborators in our quest for nation-building.”

    Hotflex

    The company, which recently bagged the esteemed Global System of Mobile Applications (GSMA) certificate making it the first in Nigeria and 3rd in Africa, also manufactures sim cards for telecom companies, loyalty cards for retail and security documents for public sector: driving license, national identity cards, international passports and more.

    Osinbajo expressed confidence in the company to bolster local content and contribute to the growth of the economy, stating that the recent GSMA certificate and other global certificates bear glowing testimony to the level of high standards demonstrated in its production of first-rate smart cards in the country.

    Speaking on the company’s recent milestone, Akinkugbe stated that SecureID strictly upholds high quality standards and protocols to manufacture an array of smart cards in line with global best practices, emphasizing that the company worked resolutely, to attain the GSMA certificate and other certificates.

    According to her, the company is an attestation that local production of smart cards at the highest quality is possible in Nigeria.

    “As an indigenous company, we are able to produce high quality SIM cards and at the same time, provide job opportunities for Nigerians. The government has seen it, its volume, value and growth, that we are able to contribute is something we would showcase and further prove that this can be done locally.

    “On our journey, we sought and received support from many institutions, agencies, and initiatives that have been established to encourage startups SMEs and enterprises,” she said.

    What you should know about SecureID

    Jaiz bank

    The company recently bagged the esteemed Global System of Mobile Applications (GSMA) certificate making it the first in Nigeria and 3rd in Africa. This is an addition to its other global certifications including Visa International, MasterCard Incorporated, Verve, Card Quality Management (CQM) and ISO 9001/2015 for Smart Card Manufacturing and Personalization of credit and debit cards for all banks in Nigeria and clients in 21 countries across Africa.

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    Business

    FG proposes retirement age of 65 years for doctors

    Ngige stated that the government wants to keep the nations health workers here in Nigeria.

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    The Nigerian Government has announced that it is proposing to increase the retirement age to 65 years for normal health workers and doctors, and 70 years for consultants, in a bid to keep health workers in Nigeria.

    This was disclosed by the Minister of Labour, Chris Ngige, in a meeting between the Presidential Committee on Salaries (PSC), relevant Federal Government stakeholders, Health Sector Professional Associations, and Trade Unions on Tuesday in Abuja.

    READ: Return to work or we will invoke ‘no work, no pay’ – FG tells Resident Doctors

    What Ngige is saying about the proposed retirement age for health workers

    “We have taken their proposal. The government side will firm up its own proposal and we are reconvening June 1, so that we can have an agreed hazard allowance for health workers in Nigeria.

    We also discussed the issue of retirement age for health workers, being that we want to keep our health workers here in Nigeria. A lot of people are coming here to poach and take away people we have trained at very great cost.

    It takes a lot of funds to train a medical doctor, nurse or even a laboratory technologist or physiotherapist. So, we want to retain them here,” Ngige said.

    READ: Minimum Wage: State Governments refusing to pay are breaching laws – Labour Minister

    The Minister added that health workers could be retained for a longer period, citing a proposed retirement age of 65 for health workers and doctors and 70 years for consultants. He revealed that the FG had called back retired health workers during the pandemic, and delayed retirement age by six months for health workers to fight the COVID-19 pandemic.

    Hotflex

    What you should know

    The FG’s proposal to keep health workers is a complete u-turn from an earlier strategy, as Nairametrics reported in 2019 that the Labour Minister had said he was not bothered about the decision of some medical doctors who chose to leave Nigeria to practice outside the country.

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