Failed Transactions:Access Bank  Upgrades Service  Platforms

Uncertainty over alleged Access Bank's bid to sack workersBusiness — The  Guardian Nigeria News – Nigeria and World News
Access Bank Plc, has upgraded its service platforms to allow for resolution of failed transactions within one business day.
The bank has guaranteed that all failed transactions will be reversed within one business day.
 It has also affirmed that in the event that reversal time exceeds one business day, customers will be entitled to a refund of up to five times the bank transfer fees for that transaction.
Speaking on this development, Ogor Chukudebelu, Access Bank’s Chief Customer Experience Officer, said that Access Bank is committed to “offering more banking convenience for all customers.”
“Access Bank understands the financial and economic hardships caused by the COVID-19 pandemic. While we have put various social impact projects in place, we have also upgraded our banking platforms to ensure that customers can transact without experiencing delays. To reiterate our commitment to providing an excellent service, Access Bank will be refunding customers up to five times the bank transfer fees when a failed transaction is not reversed within one business day.
“As we continue to make great strides as a financial institution, we will not relent in delivering superior value and bespoke financial services that suit the banking needs of our customers” Chukudebelu said.
“Without compromising on its promise to deliver services with speed and maximum security, through the implementation of sustainable banking practices, Access Bank continues to lead the revolution for financial institutions around the globe; effectively merging technology and people to deliver stellar client service to customers across all its countries of operation”.
NPA Goes Tough On Illegal Jetties Operators

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The Nigerian Ports Authority (NPA)has clamped down on unsea-worthy barges while three illegal jetties have been sealed
The NPA explained that the decision followed the establishment of an inter-agency committee comprising of representatives of the NPA, Nigerian Maritime Administration Agency (NIMASA), Nigerian Inland Waterways Authority (NIWA) and the Lagos State Inland Waterways Authority (LASWA).
It said the committee is spearheading the “clearing of the waterways of lay-by barges and tugboats along Ibeji/Ilashe axis and as far as the Kirikiri Lighter Terminal and Mile Two Bridge, as well as the removal of wrongly anchored barges that are obstructing visibility along the Kirikiri channel”.
Soliciting for the cooperation of stakeholders to ensure  barge operations are executed according to laid down regulations, the committee expressed its commitment to sustaining the current tempo of enforcement until operators totally comply with all laid down regulations.
“To this end, regular patrol of waterways will be carried out and sustained,” the statement added.
Financial Autonomy:PASAN Shuts  State Assemblies Nationwide Lagos 

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The Parliamentary Staff Association of Nigeria (PASAN),Tuesday shuts state assemblies over the non-implementation of financial autonomy for state legislature nationwide.
Protesting at the complex,the  Yobe chapter of the union explained that its action to the directives from their National Executives to embark on an indefinite strike action in response to the federal government non implementation of the financial autonomy act of 2018 and presidential order 10, 2020.
The Chairman of the Parliamentary Staff Association of Nigeria (PASAN), Yobe State Chapter, Comrade Zanna Ali said : “Why we took this action is that we want the federal government to implement the financial autonomy, we joined the strike because it is a nationwide strike, we want our demands met, the financial autonomy is constitutional, this is all what we want, it’s almost two years now the President assented the bill and we are yet to see anything. There is no going to be sitting today because we locked the legislative entrance, there’s no sitting today”.
He added that having exhausted all attempts aimed at asking for the implementation of the financial autonomy by the federal government after 21 days, 14 days and 7 days ultimatum. “At this juncture the Union has no other option than to direct our members to embark on an indefinite strike”.
” The union has been magnanimous by allowing ample time so that the federal government through Mr. President’s implementation committee on financial autonomy”.
Besides, Lagos State House of Assembly chapter of the Parliamentary Staff Association of Nigeria (PASAN) hmjoined the nationwide indefinite strike embarked upon by the Association over the non-implementation of financial autonomy for state legislature.
According to a statement issued on Tuesday and signed by Comrade Adele Adewale Taofiq, Lagos PASAN Chairman, Lagos PASAN explained that in May 2020, President Muhammadu Buhari signed an executive order granting financial autonomy to the legislature across the 36 states of the country, noting that the executive order was yet to be implemented by the governors.
While urging members of PASAN to be peaceful from the beginning to the end of the strike and wear their legislative uniform (PASAN Cap) to office on Tuesday in order not to give room for hoodlums to hijack the strike, Adele said, “A Strike Action Committee would be set up to monitor compliance, as it has been directed by the National Headquarters of PASAN.
“You could recall that the bedrock of Parliamentary Autonomy hinges on financial Independence. Autonomy in this context is simply defined as non-dependence and non-subordination of Parliaments in relation to the Executive.
“This non-dependence and non-subordination as stated above is in terms of unfettered control over financial and other related resources.
“Therefore, according to the best practice the ‘Parliaments should have equitable access to resources’. As such, Parliaments by Constitutional arrangements are supposed to have enough financial muscle to carry out their legislative mandate, including exercising power over the budget.
“This is consistent with the Latimer principles that state that ‘parliament should have control of and authority to determine and secure their budgetary requirements unconstrained by the Executive, save for budgetary constraints dictated by national circumstances’.
“In fact, this suggests that parliaments should assert their role as a separate arm of government, this includes the fact that they should be independent from the Executive in the way they organise themselves, control over their own timetable and the ability to recall themselves outside normal session if by circumstances so as required.”
Adele noted that the principle of autonomy in practice involved a number of different aspects, including: parliamentary responsibility for its own staffing; and control over its own budget.
This, he said, also included organisation of its own business with all these essential features so that they will be able to operate efficiently and exercise effective oversight over a range of policy issues affecting people.
“On this note, it’s very obvious that the struggle we set out and agreed to fight in order to liberate the legislative arm of government, and Nigeria democracy is finally upon us.  Notifications have been given in line with the provisions of the Trade Disputes Act of the Federation, yet no response from the government,” he added.
Africa Needs Transparency Initiative  To Access $13trn Investment Funds-ECA

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The Economic Commission for Africa (ECA) has urged member countries to put together, a better transparency package to access 13 trillion dollars of investment that was ready to boost economies.
The agency, however,emphasized the need for the continent  to  put together a robust  transparency initiative  on the illicit financial flows.
Mrs Vera Songwe, UN Under-Secretary-General and Executive Secretary, ECA, said this at the opening of the Conference of African Ministers of Finance, Planning and Economic Development, in Addis Ababa.
The hybrid conference has as its theme:  “Africa’s Sustainable Industrialisation and Diversification in the Digital Era in the Context of COVID-19”.
She said that African economies needed to recover fast, adding that the commission and others in the private sector, had created a scheme by which the countries could access funds.
“I want to talk about the African bank which has been able to provide eight billion dollars to 470 banks in the last year to respond to the crisis.ECA and many others in the private sector have worked together to come up with a scheme to allow us create a liquidity and sustainability facility, by getting money from the private sector, particularly for markets, where we have 13 trillion dollars of investment that is ready.
“It will not come if Africa does not  put together a better transparency package, better transparency on the illicit financial flows, and we need the financial community to work with you.”
She advocated the need  for additional “injections of liquidity” and investments into the African economy to get children back to schools, ensure reduction in poverty, job creation and economic growth.
“A lot of African countries are now using more of the Internet. Schools have access, but we know as studies in the African Development Bank and others have shown that Africa can invest in technology and our youths can use technology to the betterment of jobs and poverty reduction.
“And so we are asking again that some of those special drawing rights that go to the developed countries be on lend to the developing countries, emerging markets in Africa in particular, so that we can respond.”
She noted that Africa had done better in terms of its health response to COVID-19 compared to the developed countries.
“The data is sketchy and we are still going to get a few more of the data back. It has shown that Africa has not suffered and we have seen four million cases, 107,000 deaths and about 3.5 million recoveries. That is much better than most have seen.”
She, however, said Africa needed to recover green,  noting that “we create actually more jobs if we build back green”.
Songwe also called on member countries to create value out of their resources and financial systems.
“We need  the continent to also create value out of productivity. We need to make our factories work and services work better for our economies.
“This means that we need to do better in public financial management and the crowd in the private sector to work with us as we build an Africa that we want,” she said.
Why We Can’t Build New Refinery-NNPC Boss

NNPC states why it failed to fix refineries, to build 200,000 capacity  refinery | Nairametrics
The Nigerian National Petroleum Corporation (NNPC) ,Monday,said the idea behind the approval of yesterday $1.5 billion for the rehabilitation of the Port Harcourt refinery would benefit the country in the long run.
Group Managing Director of the corporation, Mallam Mele Kyari,disclosed this in Abuja where he said that building a new one,as being suggested,will cost the federal government between $7 billion and $12 billion.
According to him,resources are not available to build new one,while the banking sector is not ready to put in the money because they no longer fund oil projects of that magnitude.
He added that building  a new refinery will take a period of four years, during which Nigeria must continue to import products.
He explained that  for national strategic purposes, that would be a wrong decision, with the last turn-around-maintenance of the Port Harcourt having been done 21 years ago.
He added  that the current huge cost of rehabilitation was because the last turn-around-maintenance was not properly executed.
He  said all stakeholders and agencies of the government were involved in the process leading to the award, saying that it wasn’t a Turn Around Maintenance that was currently being carried out but total rehabilitation.
Kyari maintained  that the process went through the Bureau of Public Procurement and other such bodies, saying that he was confident that the best decision was taken after the tender process.
He stressed that the process was delayed for the past 10 years because of unwarranted interferences and strategy problems, including going to the original refinery builders, which he said was the wrong thing to do.
Kyari said that the borrowing angle was introduced because typically, lenders will give conditions, one of which is an Operations and Maintenance contract arrangement, meaning that NNPC will not operate the plant, as it will be done in consonance with what he described as the best global practice.
“More than that, the contractors will give a guarantee that it will work for such a period of time. That’s part of the requirements which was absent in previous ones under the TAM arrangements,” he said.
He promised  that the plant will work and the loans will be repaid, saying that he was confident that in the next 15 years, the plant will still be running.
The NNPC boss said in 18 months, gas will be obtained from the plant and will eventually, scale up until the contractors leave the site, unlike a new one that will require the whole plant to be completed before it starts functioning.
He expressed that the loan will be repaid from when the refinery becomes functional, adding that a refinery can produce a margin of $4-$7 per barrel which will be used to finance the loan.
$1bn Arms Purchase: Reps Mulls Sanction Against CBN  Gov,Chief Of Army Staff

Lawmakers summon Emefiele, Army chief, others over arms purchase
The House of Representatives has  summoned the Governor of  Central Bank of Nigeria(CBN),Godwin Emiefele Governor
and the Chief of Army staff, Gen. Ibrahim Atahiru to appear before it on April 7.
The two public officials also risk punitive action in case they shun another  summon of the legislators
The legislators investigating  the purchase of arms and ammunition for the military paramilitary,already described the action of the  CBN governor as obstacles to transparency and accountability in Nigeria in view of  its refusal to honour the earlier summon
The motion to take a hard stand on the agencies beginning with a summon was moved by Hon. Bede Eke, from Imo eliciting overwhelming support of other members, even as the committee chairman tried to tone down the resolution.
Bede said: “Mr Chairman, distinguished colleagues, I think we have got to a situation where we really have take a very hard stand on this matter, the last time the Representative of the Chief of Army staff came, we told him that the Chief of Army Staff should appear in person, at least to come and deposit the documents requested by this Committee because he is the man in charge of that agency.”
“Mr Chairman, CBN has been a problem to this House and they cannot operate the way they are operating because we approved that budget and this House will keep quite and they think they can do it all the time and get away with it. By the way, what are we asking for? Come and tell us how much you have paid for the purchase of Arms. We have given you the right to fair hearing, are you hiding anything? We will not allow it, if there something you are hiding because you are CBN, we will not allow it.
“People are killed everyday, Mr Chairman, I want to move a motion, let me stop at this but I want this House and this Ad-hoc Committee, we don’t have time and we come here everyday and we seat 3, 4 hours waiting for a Government agency, I want to move a motion that we summon, especially Chief of Army Staff and CBN, enough is enough, the CBN Governor and the Chief of Army Staff must be summoned, that is when they will know we are serious,” Hon. Eke moved.
Also speaking earlier after the chairman’s opening remark, Hon. Samson Okwu, (PDP, Benue), said:
“It’s very disheartening to see that this committee that was set up by Mr Speaker to review the purchase of arms and ammunition to the military and we also know that we have been having sittings during which you said that we will not leave any stone unturned.
“And here we are waiting to see the people from agencies such as the CBN to come and brief this committee regarding its roles in the alleged arm purchase and they are nowhere to be found.The CBN should know that as a responsible agency created by law, the National Assembly has the powers to demand for explanations on any fund spent on behalf of Nigerians.
“But it’s unfortunate that the CBN did not turn up and yet didn’t deem it fit to write officially to explain or ask for extension. I think it’s high time we made use of our constitutional powers to compel them to appear before us”, Okwu said.
COVID-19:Nigerian Scientists Produce Two Local Vaccines-FG 

COVID-19: FG to vaccinate 109 million Nigerians in two years -
The Federal Government has said that Nigerian Scientists have produced at least two  local COVID-19 vaccines.
The  vaccines are currently  awaiting clinical trials and certification before it will become useful in the fight against Covid-19,according to Secretary to the Government of the Federation and Chairman of the Presidential Task Force on COVID- 19, Boss Mustapha
Mustapha,who spoke in Abuja said the feat was a significant milestone and that the research was a welcome development that will open a new vista in scientific breakthrough and will boost the morale and image of the medical industry in the country.
He implored relevant agencies to provide the required support and enabling environment for smooth conduct of the remaining protocols for the certification of these vaccines with a view to encouraging and motivating other researchers.
He recalled that  a year ago,total lockdown was declared by the government in some parts of the country due to Coronavirus pandemic that hit us but the socio-economic impact on us cannot be underestimated.
“Many people lost their livelihood and many people lost loved ones. May their souls find rest with their maker.
“Yesterday again, Nigeria recorded the lowest number of cases so far this year. We have also seen a decline in cases in the high burden countries around the African region. This does not call for us to lower our guards as the virus is still potent and virulent.   This is the right time to adhere to the full compliance of the NPIs and be vaccinated.
“Although, situations around the world now show some increase in cases, especially in the Americas, Europe and East Mediterranean regions, which suggests that they could be a third wave, further affirms that non-compliance with COVID-19 regulations and growing evidence of vaccine hesitancy could endanger millions of lives”.
He gave an impression that the PTF was having difficulty sensitizing Nigerians on the efficacy of the vaccines being deployed, adding that last Friday, there was a sensitization meeting of the Muslim scholars and Imams on COVID-19 vaccination rollout organised by the NPHCDA in collaboration with the Nigerian Supreme Council for Islamic Affairs (NSCIA) where they urged the leadership of the Muslim Ummah to mobilize and educate their adherents to take the vaccines, because it is safe and efficacious.
According to the SGF,  so far in as much as our record shows that over 7million persons have been vaccinated in Africa. A platform will be created in the course of the week to show Nigerians every information relating to the management of vaccines and of course, the pandemic.