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FEC Approves $3.45bn W’Bank Loan For Five Projects

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The Federal Executive Council (FEC) has approved the application for a $3.45bn loan to finance five projects.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday in Abuja, told State House correspondents that on the basis of the approval, the FG would proceed to receive the $3.5bn “zero-interest”.

He highlighted that the loan was for a 40-year-tenure with a 10-year moratorium, which means that payments would begin from 2033.

Projects covered by the loan include, the power sector, renewable energy, states’ resource mobilisation programme, adolescent girls’ initiative for learning and empowerment and a women’s empowerment project.

He said, “Today at the Federal Executive Council, I presented five memos which were gracefully approved by the Council.

“They had to do with concessional and, in many cases, zero-interest financing by the World Bank and the International Development Association, which is the very concessional financing arm.

“The projects that were approved for funding were in the power sector and then the renewable energy sector. There was funding for states for resource mobilisation programmes to help them with the internally-generated revenue efforts.

“There was a project for adolescent girls’ initiative for learning and empowerment. And then finally the fifth financing that was approved was for Women project.”

According to Edun, the girls’ programme, worth $700m would support young girls within secondary school age to equip them with marketable skills in addition to their academic achievements.

“So those were five loans totalling $3.45bn. And as you know, the tenure is all around 40 years, with a moratorium period of around 10 years and interest very low, or in the cases of loans, zero interest. However, some fees would be incurred,” he added.

On his part, Minister of Education, Tahir Mamman, said the girls’ programme, which initially began in seven states, has been expanded to 11 more, bringing the number of states to 18.

“Initially, from seven participating states, we will now have about 11 additional states participating in this project, which will lead to the empowerment of girls between 10 to 20 right across the participating states.

“This is a very major escalation of this programme that is meant to empower our girls, our teachers and the provision for additional schools in the country,” said Mamman.

According to him, the programmes are in line with the President Tinubu administration’s agenda to reduce, “if not eliminate altogether,” the number of out-of-school girls and children generally.

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FG Continues Probe Into Civil Servants Receiving Salaries Abroad

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The Federal Government has reaffirmed its commitment to investigating civil servants who continue to receive salaries after relocating abroad, according to the Head of the Civil Service of the Federation (HoS), Mrs. Didi Walson-Jack.

Speaking during an event in Abuja marking her first 100 days in office, Walson-Jack debunked claims that the investigation had been abandoned, emphasizing the government’s resolve to address the issue. The event also served as an opportunity to review her tenure in the civil service.

The investigation, launched five months ago by President Bola Tinubu, aims to ensure that civil servants who have relocated for better opportunities no longer benefit from Nigeria’s payroll system. Supervisors and department heads who facilitate such fraudulent activities are also being held accountable.

Walson-Jack revealed that the Integrated Personnel and Payroll Information System (IPPIS) is being employed to scrutinize workers’ movements.

READ MORE: NAF Launches Devastating Strike On Terrorist Logistics Hub In Lake Chad

“You are asking about civil servants who may have ‘Japa’. We know that the issue was raised, and some verifications were carried out. Since then, some returned quickly, while others retired honourably,” she said.

“Right now, we are continuing the process, scrutinising the IPPIS payroll to identify those who are still in the country and those who are not. This will be an ongoing process to ensure that people cannot receive salaries while living abroad,” she added.

Acknowledging progress, Walson-Jack assured that the government would monitor the situation until it is fully resolved.

Reflecting on her tenure, she expressed gratitude to her team, highlighting the support of the ‘Super Permanent Secretaries’ as instrumental to her success.

“The first 100 days in office is a significant milestone. It provides an opportunity to reflect on the achievements made, assess progress, and set goals for the future,” she noted.

Walson-Jack also addressed job racketeering, pledging to work with the Federal Civil Service Commission to eliminate fraudulent recruitment practices.

“Where someone has obtained a job through fraudulent means, we will work with the commission to ensure that the person is sanctioned,” she stated.

This ongoing investigation underscores the government’s effort to restore integrity within the civil service system and ensure accountability at all levels.

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Driver Escapes Death As 40-Foot Container Crashes Onto Car In Lagos

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A potentially tragic accident was narrowly averted on Monday morning when a 40-foot container toppled onto a Toyota Camry with registration number LSR 293 HJ.

The incident occurred around 8 a.m. along the busy route to the Apapa Ports, causing significant traffic disruptions in the area. Miraculously, the driver of the car, whose identity is yet to be disclosed, survived the ordeal and was swiftly rescued by emergency responders.

Eyewitnesses commended the quick intervention of the Lagos State Traffic Management Authority (LASTMA) and other emergency agencies, who ensured the driver was extracted from the mangled vehicle and rushed to a nearby hospital for urgent medical care.

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Officers from the Kirikiri Police Division secured the accident scene, allowing emergency teams to work without interference. Meanwhile, efforts to remove the container and clear the road were still ongoing as of 9:30 a.m.

Speaking on the incident, LASTMA General Manager, Mr. Olalekan Bakare-Oki, decried the improper securing of containers, which he identified as a recurring cause of such accidents.

“This incident underscores the critical importance of ensuring that containers are properly fastened before being transported. LASTMA remains unwavering in its commitment to ensuring the safety and efficiency of Lagos roadways,” Bakare-Oki said.

The crushed Toyota Camry has since been removed from under the container. LASTMA officials continued operations at the scene to restore normal traffic flow in the area.

This latest incident highlights ongoing safety concerns surrounding container-laden trucks in Lagos, prompting calls for stricter enforcement of road safety measures.

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NAF Launches Devastating Strike On Terrorist Logistics Hub In Lake Chad

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The Nigerian Air Force (NAF) has successfully carried out a decisive strike against a terrorist enclave in the Lake Chad Basin, delivering a significant blow to militant operations.

Recall that on November 23, 2024, fighter jets from the NAF’s Operation Hadin Kai targeted the notorious Jubillaram area, a known stronghold of terrorist elements in the Tumbuns region.

In a statement issued on Monday, Air Commodore Olusola Akinboyewa, Director of Public Relations and Information for the NAF, confirmed that the operation was a direct response to recent intelligence.

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“This strategic location, identified through meticulous intelligence efforts, served as a critical food storage site and a sanctuary for terrorist commanders and fighters,” Akinboyewa said.

The airstrike, which followed a string of successful intelligence, surveillance, and reconnaissance (ISR) missions, was linked to several recent terrorist attacks, including an assault on Nigerian troops in Kareto on November 16, 2024.

“Intelligence had previously linked terrorists in this location to recent attacks, including the assault on troops in Kareto,” Akinboyewa added.

During the operation, NAF fighter jets launched a precise air interdiction mission, destroying key infrastructure used by the terrorists, including food storage facilities.

This strike disrupted the militants’ logistical operations and significantly weakened their capacity for future attacks.

“The destruction of the terrorist enclave, including food storage facilities, severely disrupted their logistical operations,” Akinboyewa noted.

Following the airstrike, mop-up operations were conducted using cannons to neutralize any remaining hostile elements.

“Mop-up operations using cannons ensured the complete elimination of fleeing hostile elements,” Akinboyewa stated, emphasizing that the operation was a comprehensive success.

The NAF reaffirmed its commitment to continuing operations in the fight against terrorism.

READ MORE: SERAP Urges Tinubu To Probe Missing N57bn In Humanitarian Affairs Ministry, Others

“This mission demonstrates the NAF’s unwavering commitment to defending our nation and people, acting singly and supporting surface forces in counterterrorism operations,” Akinboyewa said.

“The NAF will sustain these robust independent and joint operations until all enemies of Nigeria’s prosperity and wellbeing are brought to justice.”

 

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