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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    Financing agric sector alone not enough to grow it – GIRSAL CEO

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    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

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    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

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Nigeria: Govt Accumulates N2 Trillion Through Treasury Single Account

bycitibusinessnews
April 26, 2016
in Africa, West Africa
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The federal government has accumulated over N2 trillion through the Treasury Single Account (TSA) since the commencement of the policy on September 15, 2015.

The minister of Information and Culture, Lai Mohammed, said this at a town hall meeting held on Monday in Lagos.

The policy is meant to consolidate all inflows from Ministries, Departments and Agencies (MDAs) by way of deposit into commercial banks, traceable into a single account at the Central Bank of Nigeria (CBN).

“This administration has decided to plug all financial loopholes through the Treasury Single Account (TSA), into which over N2 trillion has accrued so far.

“Funds that ordinarily would have gone into private pockets are now finding their way into the public treasury, to be used for the benefit of all.

“Also, about 36,000 ghost workers have been discovered and weeded out, saving the government millions of naira,” the minister said.

The minister also said the capital expenditure of the 2016 budget was increased by 30 per cent.

“Beyond that, there are six social intervention areas that will directly touch the lives of millions of citizens and lift them out of poverty,” he said.

Mr. Mohammed noted that 500,000 graduates would be employed and trained as teachers.

The minister added that 370,000 non-graduates (artisans, technicians) would be trained and employed, while one million people (farmers, market women, etc) would be granted loans to set up small businesses.

He also noted that there would be Conditional Cash Transfer to the most vulnerable people; school feeding targeting 4.5 million school children; as well as bursaries/scholarships for Science, Technology, Engineering and Mathematics students.

He urged all Nigerians to rise and be part of the war against corruption.

“All of us must be part of the war. It is not Buhari’s war. It is not APC’s war. It is Nigeria’s war of survival and defeat will only sentence all of us and our generations yet unborn into perpetual penury.

“Our nation’s economy or whatever is left of it, poses a great challenge.

“For once, we have lost a sizeable chunk of our earnings to the massive crash in the price of oil.

“Think about this, if you lose 70 per cent of your monthly salary, your life can never be the same again,” Mr. Mohammed said.

He said oil crashed from over 100 dollars to about 30 dollars a barrel.

“It (oil) has recently inched up to about 40 dollars per barrel but that is still very low, compared to a high of over 100 dollars per barrel.

“For a mono-product economy, this is nothing short of disaster,” the minister said.

–

Source: All Africa

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