The plan by the Nigerian Communication Commission (NCC) to partner security agencies in combating the menace of cybercrimes in the country and the warning that the Nigerian government will deal decisively with individuals and organisations that are indebted to the Asset Management Corporation of Nigeria are the leading stories in Nigerian newspapers on Monday.
The Vanguard said that the Nigerian Communication Commission (NCC) yesterday, stated that it was partnering security agencies, the National security Adviser, Mohammed Babagana Monguno, and others towards combating the menace of cybercrimes in the country.
The Commission also added that with the introduction of advanced technology into Telecoms business, the negative impact of cyber crimes which had led to the loss of private information, monies and lives of Telecoms Consumers would soon be a thing of the past.
The Punch reported that the Vice-President of Nigeria, Prof Yemi Osinbajo, has said the Federal Government will deal decisively with individuals and organisations that made the list of high-profile obligors of Asset Management Corporation of Nigeria.
He said that the debtors had made it impossible for the corporation to resolve its outstanding N5 trillion debt, thereby holding the entire nation to ransom with their bad behaviour.
The Nation newspaper said that the African Development Bank Group (AfDB) has approved $200 million to boost Nigeria’s electrification project, particularly the off-grid expansion being implemented by the Rural Electrification Agency (REA).
The newspaper said that a source in the bank stated the project is expected to provide electricity to households, medium, small and micro enterprises (MSMEs) and public institutions in a least-cost and timely manner.
The Leadership said that the Nigerian National Petroleum Corporation (NNPC) has agreed to pay a debt of $1.740 billion or N534.180 billion (at 307/$1 official exchange rate) to the Federation Account.
The newspaper said that the whole debt will be cleared within 18 months and that the $1.740 billion is the balance of the $1.874 billion Shell Petroleum Development Company of Nigeria (SPDC) assets which were acquired by Nigerian Petroleum Development Company (NPDC), a subsidiary of NNPC. NPDC acquired the assets in 2012 at the sum of $1.874 billion and paid only $110 million, an equivalent of N33.7 billion.
ThisDay reported that the Central Bank of Nigeria (CBN) yesterday said that suggestion of fraud, in a purported audio recording of selective conversations among the Governor, Deputy Governor and some of its senior officials, is false and an attempt to mislead members of the public.
The report said that the central bank in a statement by its Director of Corporate Communications, Mr. Isaac Okorafor, pointed out that contrary to the headline-grabbing narrative that the discussion was about a fraudulent transaction, “this conversation, the beginnings of which was omitted to create a different impression, was simply to proffer solutions to a misunderstanding that affected the bank’s balance sheet.”
The Guardian said that Cashew nut farmers in Nigeria have lost approximately N99 billion since the commencement of production this year.
The farmers produce about 220,000 metric tonnes of cashew nuts yearly. In 2017 and 2018, a tonne was bought from them at the rate of N600,000. This year however, the cost plummeted to N150,000 per tonne. The figure implies that they lose N450,000 on every tonne sold. Multiplied by 220,000 metric tonnes, the farmers are set back by a staggering N90 billion.
According to the report, the downward slope of the price curve will have negative impact on investments in cashew cultivation and plantations and that thousands of jobs might be lost, besides the dire financial implications for the farmers and the country.
The Daily Sun said that the National Emergency Management Agency (NEMA) has confirmed that it would commence disbursement of N27.5 billion Agricultural Intervention funds to farmers across the country who were affected by flood disasters of 2018.
The report said that the head of NEMA Operations Office in Sokoto, Dr. Kofoworola Soleye, who confirmed this in Birnin-Kebbi, noted that the massive intervention exercise was to ensure the implementation of the National Emergency Agricultural Intervention fund under the National Food Security Programme of the Federal Government for farmers affected by floods and security challenges across Nigeria.
GIK/APA