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CREDICORP, NADDC Launch N20bn Consumer Credit Fund For Locally-Assembled Automobiles

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By Ladi Patrick 

Nigerian Consumer Credit Corporation ,CREDICORP, and the National Automotive Design and Development Council ,NADDC, have kicked off the first phase of a consumer credit fund enabling Nigerians to purchase locally-assembled automobiles.

According to a statement from the CREDICORP, the scheme kicked off with the signing of agreements with leading local automobile manufacturers including Innoson, Nord, CIG ,GAC, PAN, Mikano, Jets, NEV (electric), and DAG.

The Corporation said the targeted initiative empowers Nigerians with credit to own new automobiles such as cars, tricycles, motorbikes, while growing Nigeria’s automotive industry.

CREDICORP said the automobile credit scheme is part of its recently launched project S.C.A.L.E, through which it plans to provide credit for one million Nigerian consumers to purchase locally manufactured goods and services.

“The Automotive industry is one of five thematic areas of CREDICORP’s Project S.C.A.L.E. ,Securing Consumer Access for Local Enterprises, which channels the Corporation’s credit-backed consumers to purchase goods and services of local vendors and manufacturers”, it said.

The Corporation said the S.C.A.L.E initiative is focusing on local manufacturers in different sectors including:

Home Improvement ,Furniture, Appliances, Building Materials: This enables households to upgrade their living standards by heavily incentivizing consumer credit for locally manufactured furniture, building materials, and appliances.

Mobility ,cars, buses, keke, bicycles – esp. CNG & Electric: Promotes accessible transportation by facilitating access to compressed natural gas ,CNG, and electric vehicles ,cars, motorbikes, keke, bicycles. This will enable cheaper and cleaner transportation, and stimulate growth and value addition in Nigeria’s automotive sector.

Electronics ,Digital Devices; Provides consumers with affordable access to essential digital devices, including smartphones, tablets, and laptops, fostering digital inclusion and participation in the digital economy.

Energy Solutions ,Generators, Solar, etc

 Empowers homes and small businesses with affordable, sustainable energy solutions, such as solar panels and efficient generators, addressing Nigeria’s energy challenges.

General Merchandise ,Apparel & Textiles, Healthcare, Food & Beverage; Enhances access to essential healthcare products, quality apparel, and nutrition, while advancing growth in those sectors.

In October, CREDICORP unveiled a similar initiative called Credit Access for Light and Mobility ,CALM, Fund aimed at providing consumer credit to help Nigerians access CNG conversions and solar home systems through partner financial institutions.

The CALM Fund was launched as a partnership between the Ministry of Finance Incorporated ,MoFI, the Nigerian Consumer Credit Corporation ,CREDICORP, and the Presidential Initiative on Compressed Natural Gas ,Pi-CNG.

Meanwhile, CREDICORP earlier announced that 151 financial institutions comprising commercial banks, fintechs, and Microfinance Banks had signed up to be part of its consumer credit scheme.

However, so far, the Corporation has unveiled five financial institutions under the scheme. These include Credit Direct, Wema Bank, Accion Micro Finance Bank, LETSHEGO Micro Finance Bank, and Abbey Mortgage Bank.

As part of moves to perfect the consumer scheme, CREDICORP also recently announced a partnership with the National Identity Management Commission ,NIMC, to fast-track the building of credit scores for all Nigerians with the National Identification Number ,NIN.

FG Approves Mobile Court In Airports To Curb Harassment Of Travellers

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… Restricts DSS officials to departure, screening areas

By Charles Ebi 

Federal Ministry of Aviation and Aero Space Development has approved new regulations that establish a mobile court in airports to curb the harassment of passengers by security agencies.

The Minister of Aviation,Festus Keyamo disclosed this on Thursday via a statement on X, seen by Aljazirah Nigeria .

“I approved some far-reaching measures by the Federal Airports Authority of Nigeria ,FAAN, aimed at curbing the menace of harassment of travelers by various agencies of government stationed at our international airports. We have received too many complaints and it is time to act decisively”, Keyamo said.

Based on the new regulation of the Federal Airport Authority of Nigeria ,FAAN, the roles of security agencies at the airports have been redefined.

The regulation provides that the Nigerian Drug Law Enforcement Agency ,NDLEA, personnel will partner with Aviation Security ,AVSEC, at screening points and conduct roving checks in the arrival hall.

Also, Department of State Services ,DSS, officers will rove around the departure and screening areas.

He said, “The immediate activation of a mobile court will expedite the prosecution of offenders, especially touts.

“Establishment of Meet and Greet Areas: The RGM will designate a secure, convenient space for visitors awaiting arriving passengers.

“Zero Tolerance for Misconduct: Immediate prosecution of any BDC or Car-hire staff found loitering or engaging in unauthorized activities. Also, the immediate prosecution of any BDC or Car-hire staff found outside of the designated areas. Defaulting businesses will also face shutdowns and withdrawals of rights to operate in terminals.

“Enhanced Lighting and Signage: Improved lighting for landside and concourse areas. Large signs enforcing a three-minute pickup rule and promoting free WiFi for passengers.”

Other rules include introducing a parking system requiring payment for short and long-term parking.

“A limited number of car hire vehicles will be allowed in the car park at any time. All measures will be enforced to eliminate touting and harassment of passengers by drivers”, the regulation added.

Keya assured that the regulations are part of reforms aimed at transforming passenger experience and addressing systemic challenges.

Ibori’s Daughter, Hon Erhiathake Dumps PDP

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Hon. Erhiathake Ibori-Suenu, daughter of former Delta State Governor James Ibori, has announced her resignation as a member of the Peoples Democratic Party (PDP).

This was contained in a statement made available to AljazirahNigeria Thursday, explaining that her decision to leave the party was fueled by an internal crisis that rocked the state chapter of the party, leading to her exclusion.

She said: “Please be informed that by this notice I formally resign as a member of the Peoples Democratic Party (PDP) with immediate effect. I surrender my attached Peoples Democratic Party [PDP] Membership Card, with membership number 0777144 in furtherance of my complete dissociation and disengagement from the Peoples Democratic Party [PDP].

“My resignation was foisted on me by my complete exclusion by the State chapter of the party and by the lingering national leadership crisis which has driven the party into implacable camps.”

Minister Task NAF On Enhanced Safety, Training

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Mariam Sanni

The Minister of Defence, Alhaji Muhammed Badaru, has urged the Nigerian Air Force (NAF) to continue to enhance safety in its operational activities through effective training and manpower development.

Badaru, represented by the Permanent Secretary in the ministry, Dr Ibrahim Kana, made the call at the NAF Training, Operations and Safety Seminar for the year 2024,in Abuja.

The theme of the seminar is, “Agile and Resilient Air Power for National Security: Enhancing Safety and Optimizing NAF Air Operations to Combat Emerging Threats”.

He said that NAF had achieved significant operational milestones, adding that its ability to effectively utilise its recently acquired assets and platforms to combat terrorism and restore stability to the nation was a notable accomplishment.

According to him, NAF’s successes can be attributed to its well-trained personnel, who operate with a strong emphasis on safety.

“This focus on safety is crucial, as it enables the NAF to maintain a high level of operational tempo while minimising the risk of accidents and mishaps.

“It is noteworthy to mention that the North Eastern part of the country now enjoys relative peace and calmness owing to the selfless contributions and dedication of the men of the armed forces.

“All these would not have been possible if not for the constant need to assess performances and identify shortcomings in our operational activities.

“I believe this is what gave birth to a forum like this, where we would rub minds and examine areas that require improvement,” he said.

The minister said the seminar underscored the need to project air power in the face of national security imperatives while striving to operate within a safe environment.

He emphasised that operations and training were interrelated, saying that the grassroots of every operational activity was quality and adequate training.

According to him, a well-trained airman is a lethal weapon in the field of operations. Training serves as the factory that churns out the finished products that could be used for operational activities.

“Your work done in operations will almost be zero if you cannot produce well-trained personnel.

“Similarly, operations is a crucial part of a fighting force and the current security dynamics of the country mandate the conduct of concurrent operational activities at all levels,” he added.

Badaru called for sustained synergy between the NAF and ground forces in all operational theatres to ensure success.

COAS Lauds NAOWA For Efforts In Keeping Home Front

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Mariam Sanni

The Chief of Army Staff (COAS), Lt.-Gen. Olufemi Oluyede, has commended the Nigerian Army Officers’ Wives Association (NAOWA) for their exceptional efforts in maintaining the home front.

Oluyede gave the commendation on Wednesday when the new President of NAOWA, Mrs Mernan Oluyede led members of her executives on a courtesy visit to the Army Headquarters, Abuja.

He urged the new leadership to build on existing foundations of unity and charity by fostering harmonious beneficial relationships among members.

The COAS extolled NAOWA’s role in promoting unity and charity within the military community and support to the former president, Mrs Mariya Lagbaja during the demise of the late COAS, Lt.-Gen. Taoreed Lagbaja.

He said that NAOWA had continued to play a critical role in fostering unity and assured the association of his continuous support.

Earlier, the President of NAOWA, Mrs Mernan Oluyede, congratulated the COAS on his confirmation as the 24th Chief of Army Staff and acknowledged the role of Army Headquarters in NAOWA’s successes.

Mrs Oluyede disclosed that her vision for NAOWA focused on unity, religious harmony and ethnic diversity.

She also revealed her mission statement as, “Enhancing Humanity Through a Steadfast Commitment to Unity, Service and Preservation of Enduring Legacies”.

She added that the organisation would also ensure the fostering of bonds among members and ensure dedicated humanitarian initiatives and unwavering support from the military families.

“NAOWA will continue to inspire quality of life of members, ensure measurable growth in community impact, and create a legacy of empowerment and service to the generation to come,” she said.

The NAOWA leader called for continuous support from army headquarters to be able to achieve NAOWA’s aims and objectives.

Military Destroy 2,413 Illegal Refineries In One Year – DHQ

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Mariam Sanni

The Defence Headquarters (DHQ) has disclosed that troops fighting oil theft, destroyed 2,413 illegal refineries in the last year.

This was disclosed by the Director of Defence Media Operations, Major General Edward Buba, at a media briefing in Abuja.

He also said that troops recovered 524 weapons, and thwarted oil theft amounting to over N57 billion.

He added that the troops also arrested 2,176 terrorists, and rescued 73 kidnapped hostages.

Gen. Buba, at a media briefing on the update of military operations conducted across the country, said the military has continued to bombard terrorists and criminal hideouts, denying them the opportunity to carry out attacks at will.

He added that to ensure the security and safety of all Nigerians and deny terrorists the ability to operate, troops have adopted a high level of alert and an increased state of readiness to protect the country from further terrorist aggression and insecurity.

Giving an update on military operations conducted in the last year, Gen. Buba said: “Troops’ aggression across the various theatres of operation since the beginning of the year culminated in 8,034 neutralised terrorists, 11,623 arrests, and 6,376 rescued hostages. Furthermore, troops recovered 8,216 weapons, 211,459 ammunitions, and denied oil theft estimated at over N57 billion (N57,052,218,551.00).”

“The breakdown of the recoveries is as follows: 4,053 AK47 rifles, 1,123 locally fabricated guns, 731 dane guns, and 240 pump-action guns. Others are: 120,247 rounds of 7.62mm special ammo, 41,515 rounds of 7.62mm NATO, 5,373 cartridges, 1,940 assorted arms, and 25,664 assorted ammunitions.”

Additionally, he said troops recovered: 53,101,430 litres of stolen crude oil, 9,179,181 litres of illegally refined AGO, and 90,595 litres of DPK. Others include 156,095 litres of PMS, among other items.

“Overall, the military is keeping up the pressure through ongoing operations in the various theatres across the country. The military, through these operations, is increasingly creating conditions in which terrorists cannot carry out acts of terror or harm citizens.”

“On the whole, the armed forces are constantly examining ways to improve the effectiveness of their operations and guarantee the safety of citizens. Relatedly, operations are on an upward trajectory towards winning the war.”

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Finland-Nigeria future cooperation has a brighter prospect, says envoy

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The new Finnish Ambassador to Nigeria, Mrs Sanna Selin says Nigeria and Finland have a brighter future together through bilateral relations.

The envoy said this during her Finland’s 107 years National Day celebration, which was held on Wednesday night in Abuja.

She said that to promote stronger cooperation, both countries needed to learn from each other to build trust
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According to Selin, the fact that Nigeria and Finland differ in many ways has not and will not prevent both nations from together finding mutual and beneficial solutions to shared challenges.

“The key is to better understand each other and each others’ needs by working tirelessly together to learn from one another and build trust.

“Nigeria and Finland share many common values. We work closely together in multilateral fora for a better world.

“As an Ambassador of Finland to Nigeria, I see our future brighter together”, she said.

Speaking on the Ukraine-Russian war, she said that the long-term aim for the Finnish Foreign Policy had been to promote peace, security, and sustainable development.

She said that for Finland, it was self-evident that supporting Ukraine is the obligation at the current war.

“My grandparents were the generation fighting for the independence and sovereignty of Finland. I am deeply grateful for their sacrifice.

“Ukraine is fighting, not only for its survival, but also defending the rules-based international order.

“From our own historical experience and fight for independence, we know what Ukraine is going through”, she said.

According to Selin, before independence from the Russian empire, all Finnish men and women gained full political rights to be voted and elected.

She said women used their political influence to demand for better school and healthcare for the Finnish people.

“Since 2018, the World Happiness Report has ranked Finland as the happiest country in the world.

“Relevant factors contributing to happiness seem to be Finland’s social safety net combined with personal freedom and a good work-life balance,’” she said.

South Korean President Faces Impeachment After Martial Law U-turn

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South Korea’s president faced an impeachment motion on Wednesday following his sudden declaration of martial law, a short-lived order lifted after parliament convened overnight to reject it.

Hundreds of heavily armed troops and military helicopters encircled the National Assembly in Seoul on Tuesday night, following President Yoon Suk Yeol’s unexpected move.

To enter the building, 190 lawmakers broke the barricades and climbed fences. As they made it to the voting chamber, they unanimously rejected Yoon’s martial law order, forcing him to rescind it six hours after he made the announcement.

Yoon’s stunning declaration has plunged Asia’s fourth-largest economy into a political crisis, as the main opposition party, the Democratic Party, and five others submitted a motion to impeach him.

“The declaration is illegal and constitutes a criminal act, directly violating the constitution and other laws. It is essentially a coup d’etat … The president should be held accountable,” Democratic Party lawmaker Kim Min-Seok said during a press conference in front of the parliament.

In South Korea, the president is impeached if two-thirds of the 300-member legislature vote in favor of doing so. The National Assembly has 72 hours to vote on the motion, after which the Constitutional Court has six months to confirm the impeachment.

Yoon, who won the presidency in 2022 by a margin of less than 1 percent, has been stuck in a political gridlock with the opposition, which controls the parliament, since he took office, while his approval rating in polls has fallen sharply.

He said in a televised address on Tuesday night that he had declared martial law to “protect the free Republic of Korea from the threat of North Korean communist forces” and accused the opposition of paralyzing the government with “anti-state activities.”

Tens of thousands of people in major cities took to the streets the next day to call for Yoon’s immediate resignation and arrest in scenes that bore resemblance to 2016 protests that led to the impeachment of former President Park Geun-hye.

“There is no answer to this crisis except for Yoon to step down. How can someone declare martial law in 21st-century South Korea?” Bianca Won, a protester who joined a vigil in the Gwanghwamun area of Seoul, told the media.

“The government does not care about people’s livelihoods and safety,” she said. “There were troops blocking the entrance to the National Assembly. Civilians were fighting with armed troops.”

Yoon was the first South Korean president to invoke martial law since the country achieved full democracy nearly 40 years ago.

After hundreds of people died amid a crackdown on protesters before the last martial law was eventually lifted in 1981, Yoon’s move brought back bitter memories for the older generation.

“At first, when my daughter told me, I thought it was fake news. I couldn’t believe it,” Kim Hee-jung, a 50-year-old woman from the northwestern city of Suwon, told the media.

“It reminded me of when I was young … I was scared. I didn’t want my daughter to go through what I went through,” she said.

“Yoon’s government is doing everything wrong … His administration is an utter chaos. He just needs to step down.” 

NERC To Impose Penalty On DisCos Over Unmigrated Meters

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electricity

By Abah Adah 

Nigerian Electricity Regulatory Commission ,NERC, has slammed a daily penalty on the Electricity Distribution Companies ,DisCos, over unmigrated meters effective from January 1st 2025.

NERC had earlier declared as illegal the move by the Electricity Distribution Companies ,DisCos,to compel electricity consumers to pay for the replacement of obsolete meters.

NERC stated that the move contravenes its Order No. NERC/246/2021 on the Structured Replacement of Faulty and Obsolete End-use Customer Meters in the Nigerian Electricity Supply Industry.

To this end, the commission warned that no customer with a meter should be forcefully migrated to estimated billing on the account of obsolete meters.

However, during the Q4 NESI Stakeholders Meeting, the Commission directed DisCos to rapidly conclude the migration of STS-Meters for all their customers to prevent disruption of service.

It warned that daily penalties would be imposed for each meter not migrated effective from 1st January 2025.

The Commission further emphasized the responsibility of the DisCos to replace all obsolete/faulty meters within their franchise.

Pursuant to the provisions of the Customer Protection Regulation 2023, the Commission noted that DisCos are neither allowed to charge customers for the replacement of obsolete/faulty meters nor transfer customers to estimated billing.

FG Rakes In $1.5bn From Google, X, TikTok, Others In Six Months

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… Google, X, TikTok, Facebook deactivate 12 million accounts, delete 65 million posts

By Dickson Pat 

National Information Technology Development Agency has disclosed that Google, X, Microsoft, and TikTok paid taxes of over $1.5bn or N2.55tn to the federal government in the first half of 2024.

Also, the platforms deactivated over 12 million Nigerian accounts and took down over 65 million posts.

This was according to a statement by NITDA’s Director of Corporate Communications & Media Relations, Mrs Hadiza Umar.

According to NITDA, the data is a part of the 2023 compliance report on the Code of Practice for Interactive Computer Service Platforms and Internet Intermediaries.

The Code is jointly issued by NITDA, the Nigerian Communications Commission, and the National Broadcasting Commission

It stated, “The National Information Technology Development Agency has commended Google, X, Microsoft, and TikTok for their compliance with the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries.

“The Code, which was issued jointly by the Nigerian Communications Commission, National Broadcasting Commission, and NITDA, outlines clear guidelines for promoting online safety and managing harmful content.

“The 2023 compliance report provides valuable insight into the platform’s efforts to address user safety concerns in line with the Code of Practice and the platforms’ community guidelines. The highlight of the overall statistics across all the platforms includes the following:

“Four million, one hundred and twenty-five thousand, two hundred and eighty-three (4,125,283) registered complaints.

“Sixty-five million, eight hundred and fifty-three thousand, five hundred and eighty-one (65,853,581) content takedown.

“Three hundred and seventy-nine thousand, four hundred and thirty-three (379,433) removed and re-uploaded content following an appeal by users.

“Twelve million, ninety-nine thousand, six hundred and thirty-three (12,099,633) closed and deactivated accounts”.

NITDA said that the data from the Federal Inland Revenue Service and the National Bureau of Statistics revealed that foreign digital companies, including social media platforms, contributed over N2.55tn (approximately $1.5bn) in taxes during the first half of 2024.