Latest News on Npower Payment Today Saturday June 22 2024

According to Npower News on Npower payment today Saturday June 22 2024, President Bola Ahmed Tinubu suspended Npower which is under the National Social Investment Programmes Agency (NSIPA) in January 2024. The suspension of Npower occurred because of suspected irregularities within the Ministry for Humanitarian Affairs and Poverty Alleviation.

According to Npower News, an initial investigation was planned for six weeks but the situation has become more complex. The Economic and Financial Crimes Commission (EFCC) found and recovered ₦30,000,000,000 from the Ministry for Humanitarian Affairs and Poverty Alleviation, the ministry in charge of Npower. This recovered monies may be used to restart payments to Npower batch c beneficiaries in the Npower program.

The Economic and Financial Crimes Commission (EFCC) is still interrogating officials they suspect of embezzling funds from Npower. There is no confirmed date for restarting Npower payments to beneficiaries of Npower batch c.

Npower will share updates once the suspension is lifted or there are significant developments in the investigation.

Npower News Today Saturday June 22 2024

According to Npower News today Saturday June 22 2024, President Bola Ahmed Tinubu lifts embargo on Renewed Hope Conditional Cash Transfer (CCT) program, indicating the continuation of support for poor and vulnerable households.

According to Npower News, Npower program remains suspended; there is no mention of the resumption of Npower. Npower payment to Npower batch c beneficiaries still possible despite suspension of Npower. The decision on the fate of Npower depends on President Bola Ahmed Tinubu.

According to Npower News President Bola Ahmed Tinubu's Renewed Hope Youth Empowerment and Innovation agenda is ongoing, featuring initiatives like 3MTT and iDICe.

The 3 Million Technical Talent (3MTT) is a program by the Federal Ministry of Communications, Innovation, and Digital Economy aimed at training 3,000,000 technical talent to boost digital economy in Nigeria. The 3 Million Technical Talent (3MTT) training is open to all Nigerian citizens who want to learn and excel in digital technology.

The Investment in Digital and Creative Enterprises (iDICE) programme is a government initiative launched in March 2023. The Investment in Digital and Creative Enterprises (iDICE) programme  provides a $618,000,000 technology fund for young investors who struggle to raise money in Nigeria's technology and creative sectors.

Academic Staff Union of Universities (ASUU), Expresses Worry Over Underfunding Of Yobe State University, Kicks Against Student Loan

The leadership of the Academic Staff Union of Universities (ASUU), Yobe State University (YSU) chapter, has expressed worry over the proliferation of public universities without financial commitment to fund them.

The Chairman of the branch, Ahmed Ibrahim Karage, who revealed this while briefing journalists in Damaturu, said the public universities are facing gross underfunding, epileptic or non-payment of earned academic allowances as well as non-payment of allowances among other welfare issues.

“The situation of public universities in the country is disturbing. There has been an increase in the number of public universities created by federal and state governments with no sincere financial commitment to fund the universities. State universities in this zone (ADSU Mubi, TSU, Jalingo, YSU, Damaturu) also have cases of gross underfunding, the epileptic or non-payment of EAA, the non-payment of responsibility allowances as well as other welfare issues”.

“There is no genuine commitment by governments to fund public universities. Close to two (2) decades, the budgetary allocation to education is disappointing. For example, in 2024, only 6.39 per cent of the total budget was allocated to education in the federal government budget and most of which were not released for implementation. Hope cannot be renewed in education in this mode.

“ASUU rejects any attempt to increase school fees without any corresponding inputs from the government to adequately fund education. The working class and other masses cannot afford it for now. The general public are leaving in abject penury which the political class has deliberately subject us to,” Ahmed Ibrahim Karage said.

According to Ahmed Ibrahim Karage, the attempt to increase school fees by the Federal Government which the union kicks against, has a serious potential of increasing the rate of students dropping out from the university, emphasizing that the Nigerian government has ample resources to fund education better.

“We reject the students’ loan scheme, which to us, is an IMF/World Bank ideology intended to cripple the future of our youths and bastardize our educational system. Instead of the loan, the government should give students study grants just as ASUU gives scholarships to students across the nation”.

Ahmed Ibrahim Karage noted that the ASUU’s struggle has been in the best interest of Nigeria and its people, not ASUU members alone.

“Our union is tired of dwelling on the same number of issues year in and year out, negotiating and renegotiating, and with mutual agreements reached and signed on each occasion, but with the government consistently defaulting on its own terms”.

Source: https://www.channelstv.com/2024/06/21/asuu-expresses-worry-over-underfunding-of-yobe-varsity-kicks-against-student-loan/

Sterling Bank Launches Platform for ₦5,000,000,000 SMEDAN Loan

Sterling Bank Plc and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a platform called SMEDAN Databanc platform.

The SMEDAN databanc platform will serve as a single source of data on businesses in Nigeria to guide personalized interventions and support from decision-makers who serve the Micro Small and Medium Enterprises (MSME) ecosystem. The databanc platform by SMEDAN will provide insights that will be utilised by SMEDAN to deliver its mandate on policy formulation, delivery of intervention programmes and other initiatives, including financing that will support the growth of small businesses in Nigeria.

This SMEDAN databanc platform will also provide unique identification for small businesses and their promoters as well as their business areas/sectors. This platform and the Sterling/SMEDAN ₦5,000,000,000 single-digit loan programme is some of the avenues through which Sterling Bank is working with SMEDAN to jointly grow the Nigerian economy by supporting the growth and expansion of small businesses.

Speaking at the launch of the SMEDAN databanc platform, the Executive Director of Commercial and Institutional Banking at Sterling Bank, Tunde Adeola, announced the SMEDAN databanc platform and fund was a materialisation of Sterling Bank’s commitment and dedication towards growing the real sector of the nation’s economy.

Tunde Adeola, said: “We are delighted to bolster the backbone of our economy with SMEDAN. This initial fund of ₦5,000,000,000 marks just the beginning of what has been and will continue to be a mainstay of our approach to funding businesses to grow at scale, and become the preferred financial partner for businesses, no matter their scale.”

The Executive Director of Commercial and Institutional Banking at Sterling Bank, Tunde Adeola said that over twenty thousand Small and Medium Enterprises (SMEs) have enrolled on the SMEDAN Databanc platform with over eighty beneficiaries of the single-digit loan program and further disbursements of the loans are ongoing. Tunde Adeola encouraged all Micro Small and Medium Enterprises (MSMEs) in Nigeria to enrol on the SMEDAN databanc platform.

The Director-General of SMEDAN, Charles Odii, represented by the Director of Agribusiness Development and Access to Finance, Levi Anyikwa, highlighted the programme’s alignment with SMEDAN’s mission to democratize credit access and loan facility for nano and micro-enterprises.

Levi Anyikwa affirmed: “Access to finance remains a significant hurdle for SMEs, and we are committed to removing that barrier.”

Source: https://guardian.ng/sterling-bank-unveils-platform-for-n5-billion-smedan-fund/

Latest News About Conditional Cash Transfer In Nigeria Today Friday June 21st 2024

Here are the latest news and updates about conditional cash transfer in Nigeria today, Friday, June 21, 2024:

President Bola Ahmed Tinubu lifted the suspension of the Conditional Cash Transfer (CCT) program as President Bola Ahmed Tinubu celebrated his one year in office. President Bola Ahmed Tinubu has started the distribution of ₦25,000 per month to 15,000,000 households. The Conditional Cash Transfer is one of fifteen items in the Memorandum of Understanding (MOU) between the Federal Government and the Organized Labour. The Federal Government of Nigeria will be disbursing a total of ₦75,000 to each of the 15,000,000 households over a period of 3 months.

The Conditional Cash Transfer (CCT) is in conjunction with the World Bank Group and other development partners. The Conditional Cash Transfer program is to implement conditional cash transfers, business grants and other forms of support for vulnerable and poor households in Nigeria.

Latest News About NELFUND Student Loan Today Friday June 21st 2024

Here are the latest news and updates about NELFUND student loan for today, Friday, June 21, 2024:

1) Over sixty thousand students of Federal Government institutions and Universities have so far applied for the student loan since the student loan portal for registration was officially launched.

2) The NELFUND student loan portal will be opened for student loan application by students in State-owned tertiary institutions on Tuesday June 25, 2024.

3) 90% of federal universities have submitted their students’ information to the student loan portal, adding that 10% of federal institutions and Universities were yet to submit theirs.

4) NELFUND said it would publish the full list of federal institutions that have submitted their complete student information on June 24.

5) The Nigerian Education Loan Fund (NELFUND) has clarified that students of the National Open University of Nigeria (NOUN) were not eligible for the student loan facility due to their inability to possess the Joint Admissions and Matriculation Board (JAMB) registration number.

6) The Nigerian Education Loan Fund (NELFUND) has called on applicants facing difficulties on the student loan portal to reapply for the student loan, assuring that all technical issues affecting the student loan portal have been rectified.

Npower News Today Friday June 21st 2024

According to Npower News today Friday June 21st 2024, beneficiaries of Npower batch c are to take note of the following below:

1) Npower payment to beneficiaries of Npower batch c will start in June 2024.

2) The Federal Government of Nigeria has said that a new structure for its famed Npower scheme will be launched soon, and Npower arrears will be paid to eligible beneficiaries of Npower batch c soon.

3)The Npower national coordinator implored beneficiaries of Npower batch c to check their phones and accounts for the payment of the federal government grant while awaiting Npower payment.

4) The Npower national coordinator also said that the Executive Committee Members (EXCOS) are planning to go to Abuja to process the payment of the stipend being owed beneficiaries of Npower batch c. 

In this context, "the EXCOS are planning to go to Abuja to process the payment of the stipend being owed beneficiaries of Npower batch c" this implies that the leadership team is taking steps to address the Npower payment issues and ensure that beneficiaries of Npower batch c receive their stipends.

5) President Bola Ahmed Tinubu lifted the suspension of the Conditional Cash Transfer (CCT) program as President Bola Ahmed Tinubu celebrated his one year in office.