The Federal Executive Council has approved the request made by the Federal Mortgage Bank of Nigeria to purchase core banking application software from Messrs FINTAX, worth N487.39million.
This disclosure was made by the Honourable Minister of Works and Housing, Mr. Babatunde Raji Fashola (SAN), as revealed by the Government of Nigeria, and seen by Nairametrics.
What they are saying
Commenting on the recent development, the Minister said: “The other memorandum I presented, which was approved for the procurement of a core banking application software for the Federal Mortgage Bank in the sum of N487, 394,285.71 to enable the bank provide all of the frontline services that other banks now provide in all of its branches.
“Unlike other banks, the Federal Mortgage Bank is still unable to send automated notices, statements, and all those things to National Housing Fund contributors; all the types of alerts you get and operating accounts from any branch irrespective of where you maintain your accounts.’’
Why it matters
The recent announcement is a welcome development, especially as it aims to digitalize the operations of the bank and reposition it to be more effective and efficient in carrying out its tasks.
Empirical studies have also shown that with technology, the growth boundary of any firm is limitless. As a result, Nairametrics believes that if adequately employed, the purchase and subsequent use of the software could be a game-changer for the bank.
What you should know
- The Federal Executive Council approved the sum of N120.72billion to facilitate sundry projects and purchases for effective delivery.
- Of this amount, Nairametrics had earlier reported that the Federal Government of Nigeria had approved the sum of N117 billion for road rehabilitation nationwide.
- The sum of N2.1 billion contract was awarded to Julius Berger to furnish the NIS Technology building, which houses the service’s data communication command and control center.
FG signs new Sustainable Development Goals agreement with UN
The Agreement is for new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.
The Nigerian Government has signed a deal with the United Nations to develop new cooperation towards achieving Sustainable Development Goals.
This was disclosed by the Minister of Foreign Affairs, Geoffrey Onyeama, in a statement on Thursday after the agreement was signed with the United Nations Office for Project Services, UNOPS, represented by Ifeoma Charles.
The Minister said, “On behalf of the Nigerian Government, I signed an agreement with the UNOPS represented by Ifeoma Charles Multi-Country Office Rep. The Agreement is for a new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.”
What you should know
The 17 Sustainable Development Goals are:
No Poverty; Zero Hunger, Good Health, and Well-being; Quality Education; Gender Equality; Clean Water and Sanitation; Affordable and Clean Energy; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reducing Inequality; Sustainable Cities and Communities; Responsible Consumption and Production; Climate Action; Life Below Water; Life on Land; Peace, Justice and Strong Institutions; and Partnership for the Goals.
Newly appointed IGP unveils policing vision
The new IGP has the vision to deploy cutting-edge policing technology, integrate intelligence-led policing practices, and restoring public confidence in the Force.
The Inspector-General of Police, Ag. IGP Usman Alkali Baba, has unveiled a new policing vision as well as strategies to fight crime for the Nigeria Police Force.
The IGP disclosed this at the inaugural conference with Zonal Assistant Inspectors General of Police, Commissioners of Police and other Heads of Police Formations in Abuja on Thursday.
The IGP’s new policing vision includes:
- Deploying cutting-edge policing technology;
- Integrating intelligence-led policing practices to core policing functions, with a view to strengthening police capacity to stabilise the internal security order; and
- Restoring public confidence in the Force.
The IGP added that the aim of the new policies was to give full effect to the concept of community policing and deliver quality police service based on accountability and conformity to the rule of law.
He also revealed that he had ordered the immediate reforms of the IGP monitoring unit and disbandment of satellite offices, in a bid to reorganize Force units to operate only in the context of their original mandates.
What you should know
Nairametrics reported on April 6, 2021 that President Muhammadu Buhari had approved the appointment of DIG Usman Alkali Baba as acting Inspector-General of Police (IGP).
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- CSCS Plc posts profit after tax of N6.93 billion in FY 2020
- BUA Cement Plc announces Board Meeting
- Infinity Trust Mortgage Bank Plc records a 60% increase in profit after tax in Q1 2021.
- Tantalizers Plc reports a loss after tax of N422.05 million in FY 2020.
- NASD Plc announces admission of newly demutualized NGX shares.