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Business

IGP orders full enforcement of Covid-19 Health Protection Regulations 2021

The IGP has ordered full enforcement of the Coronavirus disease (Covid-19) Health Protection Regulations 2021.

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IGP says protesters attacked 205 public, private facilities, IGP orders immediate withdrawal of police officers attached to VIPs

The Inspector-General of Police (IGP), Mohammed Adamu, has ordered full enforcement of the Coronavirus disease (Covid-19) Health Protection Regulations 2021, signed into law by President Muhammadu Buhari on January 26, 2021.

This follows the directives by the President as contained in the Coronavirus Disease (Covid-19) Health Protection Regulations 2021, which mandates the Nigeria Police Force and other agencies of government to ensure full enforcement of the regulations in public places.

The disclosure was contained in a statement issued by the Force Public Relations Officer, Frank Mba, on Monday, February 1, in Abuja.

READ: FG to spend N447.6 billion on Police in 2021

What the Inspector General of Police is saying

The statement from the Nigeria Police Force partly reads, “The Inspector-General of Police, IGP M. A. Adamu, NPM, mni has ordered the Assistant Inspectors OF Police in the seventeen zonal commands and their constituent Commissioners of Police in the thirty-six states of the Federation and the FCT, Abuja, to carry out full enforcement of the Coronavirus Disease (Covid-19) Health Protection Regulations 2021 signed into law by his excellency, President Muhammadu Buhari, GCFR on 26th January 2021.

“They are to ensure full compliance with the Regulations in their respective Areas of Responsibilities (AoR).”

The statement notes that some of the public places that the enforcement will be carried out include places of worship, workplaces and schools, banks, public transport vehicles, hostels, boarding houses, detention centres, and so on, in addition to general restrictions on gatherings as well as the use of face masks.

READ: #EndSARS: Full text of President Muhammadu Buhari’s National address

The IGP, while pointing out that the uncertainty and risks engendered by the advent of the pandemic, has placed additional responsibilities on the general public, he called on the public to voluntarily comply with the provisions of the regulations for the safety of all.

Adamu however, cautioned officers enforcing the regulations to show tact, compassion and empathy with the citizens.

He urged them to be firm and professional while remaining polite, civil, and respectful of the fundamental rights of the citizens.

READ: Buhari directs FIRS, others to ensure strict compliance of tax payment by foreign firms

What you should know

  • It can be recalled that a few days ago, President Muhammadu Buhari signed into law the Covid-19 Health Protection Regulations 2021 policy, citing powers conferred to the Presidency, by Section 4 of the Quarantine Act, Cap. Q2 Laws of the Federation of Nigeria 2010, and in consideration of the urgent need to protect the health and wellbeing of Nigerians in the face of the widespread and rising numbers of coronavirus infections in Nigeria.
  • The law, which is in 5 parts, includes; Restrictions on Gatherings, Operations of Public Places, Mandatory Compliance with Treatment Protocols, Offences and Penalties, Enforcement and Application, Interpretation and Citation.
  • However, the Presidency has expressed worries over reported non-compliance by Nigerians to the recently enacted Covid-19 regulations.

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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

FG moves to appoint fund manager for $37 billion infrastructure company

The FG has arranged to engage an asset manager for its newly set up Infrastructure Company of Nigeria Ltd.

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PIB; Will the jinx be broken this time around?, President Buhari may sign 2020 Budget tomorrow, President Buhari approves N37 billion for National Assembly renovation, President Buhari appoints Sarki Auwalu to head DPR , FG may stop interstate and inter-town travels, COVID-19: President salutes Elumelu, Dangote, Atiku, Banks, others for support, Naira export earnings, Covid-19: FG to set up N500 billion intervention fund, sovereign wealth, FG issues guidelines on implementation of gradual easing of lockdown nationwide, Electricity: FG approves one year waiver of import on meters, Buhari backs Lagos State Government Judicial Panel of Inquiry

The Federal Government has concluded plans to engage an asset manager for its newly set up Infrastructure Company of Nigeria Ltd. (Infra-Co), to raise about N15 trillion ($36.7 billion) for projects and accelerate growth in Africa’s biggest economy.

This is coming barely 2 weeks after President Muhammadu Buhari approved the government’s N1 trillion initial seed capital for the Infrastructure company, which will be set up under a Public-Private Partnership.

According to a report from Bloomberg, a source who wants to remain anonymous said that the Central Bank of Nigeria (CBN) and its funding partners, Africa Finance Corporation (AFC) and state-owned Nigeria Sovereign Investment Authority, are seeking proposals from companies to independently manage the infrastructure company’s fund-raising plan.

The sought after fund manager will be responsible for coordinating the total equity capital and associated debt raise required by the company with the asset managers seeking the role expected to have been active in infrastructure financing.

The CBN Governor, Godwin Emefiele, had earlier said that the government needs to be innovative in its approach to developing infrastructure in the country and believes that InfraCorp will be a major game-changer in this regard.

Some firms such as PricewaterhouseCoopers, Boston Consulting Group, McKinsey and KPMG have expressed interest in getting the role of transaction advisers on the deal with Ukiri Lijadu and Co. and Kenna Partners appointed legal advisers.

This is as the report says that the firms were either not available to confirm the development or could not make any comment yet.

What you should know

  • It can be recalled that President Muhammadu Buhari, had earlier approved the government’s seed capital of N1 trillion for InfraCo, an infrastructure company, which will be wholly focused on critical infrastructure investment in the country, under a Public-Private Partnership.
  • The President had said that InfraCo will be raising funds from the CBN, Nigeria Sovereign Investment Authority, Pension funds, and local and foreign private sector development financiers.
  • This will help boost infrastructure investments to stimulate economic growth after exiting its second recession in 4 years in the fourth quarter and bridge the infrastructural gap in the country, with Nigeria needing at least $3 trillion over 30 years to close its infrastructure deficit.

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Afreximbank sets up a $500 million fund to support Africa’s creative industries

African Export-Import Bank has set up a $500 million fund to support Africa’s creative industries.

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AfDB, Chinelo Anohu

The African Export-Import Bank (Afrexim Bank) has set up a $500 million fund to support Africa’s creative industries as the continent faces a challenge to effectively monetize its creative output.

This disclosure was made by Afreximbank President, Benedict Oramah at a virtual “fireside chat” on Tuesday organized by the Africa Soft Power Project, entitled “The New Face of African Collaboration.”

According to Africa Investment Forum Senior Director, Chinelo Anohu,

READ: Afreximbank set to commit $200 million to Africa’s export fund

“Digital platforms in Africa should scale up to take advantage of the continent’s surging demand for creative content, and the African Development Bank flagship entity is providing advisory services and investment support to creative players.

“The Africa Investment Forum was working to promote content deals as well as digital infrastructure projects to advance creative industries, including support to smaller players.

“At AIF 2019, we had a very interesting entrepreneur scheme which saw those that were not as big get the kind of funding they needed to get beyond getting a feasibility study done.

READ: Tesla loses $200 billion in market value following Bitcoin investment

“Data is one of the African Development Bank’s strong points. They have a fantastic research division, and what we’re trying to do is mainstream that data culled from 55 countries and distill it in such a manner that the investors can easily access the information they need.

“Support for intellectual property rights and equipping investors with the data they need to tackle negative perceptions about investing in Africa are key priorities for Africa Investment Forum.

 What you should know

  • The event was held against the backdrop of the recent coming into force of the African Continental Free Trade Agreement (AfCFTA).
  • Discussion at the event primarily focused on the role of infrastructure and connectivity in advancing Africa’s creative industries, including film, textiles and design.
  • It is important to note that 2021 is also the African Union’s year of arts, culture and heritage.
  • In January 2020, Afreximbank set up a $500 million fund to support Africa’s creative industries.
  • It is strongly believed that AfCFTA would help address some of the key challenges to boosting Africa’s creative output.
  • The Africa Investment Forum, championed by the African Development Bank and its founding and institutional partners, works to accelerate the closure of the continent’s investment gaps. The Forum currently has a growing portfolio of 118 deals valued at $114 billion.

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