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How E-payment can move Nigeria in the Global Development Index!
–John T. Obaro of SystemSpecs
Mr. John Tanimola Obaro is the Managing Director of SystemSpecs – Nigeria’s leading HR, Payroll, Accounting and e-payment solutions provider. Lately, the company has been in the forefront in the campaign for e-payment system in the country with its product - REMITA - , rated as one of the best indigenous e-payment solution in the country. He is a respected personality in the IT industry for his leading role in the area of software development and deployment. A graduate of Ahmadu Bello University Zaria with a degree in Mathematics and Computer Science and MBA from the University of Lagos, Tani has attended extensive international training and exposures in Business Management and won a lot of awards from different institutions and bodies. He is a member of various professional and statutory bodies including Fellow of the Nigeria Computer Society; National Software Development Task Force; Governing Council of the Computer Professional Registration Council of Nigeria; Science and Technology Commission of the Nigerian Economic Summit Group. He has at various times worked with the Leventis Group, United Bank for Africa and IMB (an affiliate of the Bank of Chicago) among other institutions. In this interview with the Economic Confidential, Obaro introduces readers to the challenges of IT in Nigeria, especially with references to the deployment of E-payment in government.
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FMBN Raises N17bn for Recapitalisation
… Targets Informal Sector for Mortgage Facilities
The Federal Mortgage Bank of Nigeria (FMBN) has concluded plans to raise additional N17 billion through the floatation of bond to deliver housing to Nigerian masses. The new issue would be overseen by the Security Issuance and Market Development Department, a new unit created in furtherance of restructuring of the organisation.
The Managing Director and Chief Executive of the bank, Mr. Abdulsalam Y. Ahmed, at a media briefing revealed that the present capital base of the bank is N2.5 billion and had granted N41.958 billion to Primary Mortgage Institutions (PMIs) and estate developers out of N79.515 billion already approved for disbursement to beneficiaries as at end of January, 2009. The banker who was recently appointed to the new position disclosed that the Federal Government was in the process of significantly raising the equity of the organisation because of the need for recapitalisation of the FMBN and an enhanced adequate budgetary funding meet the huge financing need of the Nigerian housing sector.
He said that FMBN between 2006 and January, 2009, made a cumulative collection of N41.963 billion through the National Housing Fund (NHF) scheme. Giving further breakdown of the disbursements, he explained that though a total of N29 billion and N50, 514 billion were approved for the Primary Mortgage Institutions and Estate Developers only N14.546 billion and N27.412 billion were respectively disbursed.
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FEDERATION ACCOUNT: May, 2009
Contributed by CISLAC
The Sharing of N230bn in May: Akwa Ibom Still Richer, Cross River poorer
Gross summary of Statutory Revenue and VAT Allocations to 3tiers of Government,NCS and FIRS at the Federation Account Allocation Committee Meeting of May 2009.
For the second time this year, the Economic Confidential reveals that Akwa Ibom is still the highest recipient from the Federation Account Allocation in May 2009 receiving a total sum of N8.3bn followed by Rivers State which received N8.05bn, Delta N7.4bn, Lagos N6.7bn and Kano N5.18bn. The lowest recipients include the oil-producing Cross River state which received N2.088bn only higher in allocation than Gombe N2.12bn, Nasarawa N2.081bn, Ebonyi N2.04bn and Ekiti N2.20bn.
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2009 Budget will be Closely Monitored : DG BUDGET, Abuja , Nigeria
Contributed by: CISLAC, Nigeria.
In an interview to the Economic Confidential, the Director General of the Budget Office of the Federation, Dr. Bright Okogu, talks about the nature of 2009 budget, its implementation, sharing about the mechanisms put in place for its close monitoring. In this exclusive interview with the Economic Confidential after a workshop on Budget Implementation, Monitoring and Evaluation in Abuja this former Special Adviser to Minister of Finance, gives assurances on 2009 Budget.Here are some excerpts.
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Holding government accountable through budget analysis and dissemination
One of the key activities by ActionAid Nigeria is building capacities of civil society organisations, communities and government officials in budget analysis and advocacy. The goal is to equip the people and create space for civic engagement, promote accountability and transparency in budget processes. This promotes public budget tracking and monitoring of programme implementation. In 2008, ActionAid Nigeria held a training sessions in Enugu for about 30 participants, including government officials and civil society organisations.
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Analysing public finance, influencing State plans |
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 Construction of a feeder road from Sabon Dabai to Kendo, culverts at Rafin zumi and Rikoto, relocation of the abattoir at Ambursa, construction of wells and electricity at Dabai are few examples of what the people have been able to claim and access in the states of Sokoto, Kebbi and Zamfara, in Nigeria.
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ELBAG with csos and media |
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Many Civil Society groups are working together, extending the work of National Pro Poor Governance and Budget Accountability Network launched in Plateau, Kebbi and Osun States with full operations. A network was formed on the Budget Transparency and Advocacy Network in Cross River State through the auspices of the Public Finance Analysis project. The Nigeria Bar Association, the media and other CSOs in all the select states also played key roles in ensuring critical engagement with the government on issues of good governance.
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