- Declare Your Assets, CCB Warns Civil, Public Servants
Code of Conduct Bureau has warned civil and public servants that failure to declare their assets constitutes an offence punishable by law.
Presenting a paper during a sensitisation campaign on asset declaration for workers in Osogbo, the Osun State capital, on Thursday, on the topic ‘Exposition on Assets Declaration Exercise,’ a director in the Code of Conduct Bureau, Olufadeji Adeniyi, explained that the CCB is an anti-corruption agency, put in place by the Federal Government to fight graft.
He said it remained an offence for any public officer not to declare his or her assets, saying the Code of Conduct Bureau had the mandate to establish and maintain a high standard of morality in the conduct of government business.
He added that the CCB also had the duty to ensure that the action and behaviour of public officers conform to the highest standards of public morality and accountability.
In his remarks at the event, the Chairman, Local Government Service Commission, in the state, Tunde Adedeji, warned civil servants and public officers in the state to declare their assets before Code of Conduct Bureau to avoid sanctions.
He lamented that many civil servants and public officers either did not know or, most times, feigned ignorance of the need to declare their assets before the Code of Conduct Bureau.
He explained that the Code of Conduct was a set of principles, ethics and rules guiding the activities of an employee in an establishment, which must be strictly adhered to.
He added that the campaign was organised to sensitise the public officers on the mandate and power of the Code of Conduct Bureau and the mode of operations of the organisation.
Adedeji noted that awareness campaign would be held across 68 local government areas, including local council development areas, area councils and administrative offices in the state.
Oil Prices Decline on Rising COVID-19 Cases
Global Oil Prices Dipped on Friday as New COVID-19 Cases Jump Globally
Global oil prices decline on Friday as the number of confirmed COVID-19 cases surged across the world.
Brent crude oil, against which Nigerian oil is priced, declined from $43.47 per barrel it traded on Thursday during the Asian trading session to $41.60 per barrel on Friday at around 11:39 am Nigerian time.
Oil traders and investors are worried that the rising number of COVID-19 new cases would disrupt demand for the commodity and force refineries to shut down once again.
“I do not suspect many oil traders will be looking to place significant bids in the market today, suggesting prices may continue to wallow into the weekend,” said Stephen Innes, chief global markets strategist at AxiCorp.
Despite efforts by both OPEC plus and other top oil producers to halt falling oil prices and reduce global oil glut, the lack of a cure for COVID-19 remained global concerns.
As previously stated on this platform, until a cure is found the world would have to find a way to either work through COVID-19 or shut down activities completely.
This is coming a day after the Federal Government of Nigeria announced that it was putting school resumption plan on hold following the latest COVID-19 report that shows Nigeria’s confirmed cases crossed 30,000 on Wednesday.
In the United States, more than 60,000 new COVID-19 cases were reported on Thursday, forcing lawmakers to start contemplating the second phase of COVID-19 lockdown.
We Are Losing N13.9bn Monthly Because FG Caps Tariff – Discos
Discos Says it is Losing N14bn Monthly Because of NERC Capped Tariff
The Nigerian power Distribution Companies (Discos) have said they a losing N13.9 billion in revenue every month because the Nigerian Electricity Regulatory Commission, limited how much they can charge for consumption.
Ernest Mupwaya, the Managing Director, Abuja Electricity Distribution Company, made the statement during a presentation on behalf of the Discos to the House of Representatives Committee on Power.
The statement was after the Discos demanded realistic indices before the implementation of the proposed service reflective tariff, which was supposed to be implemented on July 1.
Mupwaya said there were some outstanding requirements before the service reflective tariff could be implemented.
“One of them is the removal of estimated billing caps. The financial impact of the Capping Order is an average loss of N13.9bn monthly, thereby, undermining or jeopardising the minimum remittance requirement,” Mupwaya stated.
The July 1 service tariff implementation was halted by members of the National Assembly, who prevailed on the Discos to shelve the date to the first quarter of 2021 due to the current economic challenges in Nigeria.
Gbajabiamila Says Nigeria Can’t Compete in AfCFTA With Weak Industries
Nigeria Must Ramp up Industrialisation to Prevent Dumping by Other Nations
The Speaker of the House of Representatives, Femi Gbajabiamila, has said the nation can not compete effectively in the African Continental Free Trade Area (AfCFTA) with weak industrialisation and manufacturing activities.
Gbajabiamila disclosed this while receiving Adesoji Adesugba, the newly appointed Managing Director of the Nigeria Export Processing Zones Authority.
The details of the visit were made public on Thursday in a statement titled, “AFCFTA: House Speaker tasks Nigeria on industrialisation through free trade zones.”
Gbajabiamila was quoted as saying “We must act proactively so that we don’t become a dumping ground for other African nations.
“Our best option in this circumstance is to immediately set machinery in motion to ensure the effective functioning and flourishing of our export processing zones.
“We must remove all bottlenecks and perfect all stumbling blocks. We will then be fully prepared for AfCFTA and also generate massive jobs for our unemployed youths and enhance our foreign earnings.”
He added that the nation must as a matter of national emergency ramp up industrialisation through free trade zones and other effective means to compete with South Africa, Africa’s most industrialised economy and other African nations.
Forex4 days ago
Naira-USD Exchange Rate to Hit N430 – Report
Finance7 days ago
DSS Arrests EFCC, Acting Chairman, Magu
Forex7 days ago
CBN Starts Using N380/$ Official Rate, Expects to Make it Official Soon
News1 week ago
Fire Guts Central Bank of Nigeria Office in Gombe
Finance6 days ago
CBN Spends $11.5bn in Q1 2020 to Support the Economy and Dwindling Naira
Stock Market7 days ago
Flour Mills, Dangote Cement, Vitafoam Disclose Insider Dealings
News3 days ago
British High Commission to Start Accepting Visa Applications From Nigerians Soon
Technology1 week ago
Jeff Bezos Sets a New Record as Net Worth Hits $172bn