News
FG Taps Fintech Operators to Disburse Conditional Cash to Poorest
Sadiya Umar-Farouq, minister, Humanitarian Affairs, Disaster Management and Social Development, has flagged-off the disbursement of N20,000 conditional cash transfer to the most poorest Nigerians as directed by President Muhammadu Buhari
Fast-rising Nigerian Fintech mobile money company, Funds and Electronic Transfer Solutions, Fets’, operators of Fetswallet, has commenced the immediate disbursement of N20,000 conditional cash transfer to the poorest and most vulnerable as directed by President Muhammadu Buhari in his address to the nation on Sunday 29 March.
Despite the partial shutdown of retail operations by deposit money banks following the President’s directive restricting movements in some states, fets’ has been able to facilitate the timely physical cash transfer to the vulnerable as organised by the Ministry of Humanitarian Affairs, Disaster Management and Social Development at the Kwali Area Council of the Federal Capital Territory, Abuja.
The Minister, who was present to kick start the disbursement said: “due to the scourge of coronavirus, the Federal Government is giving out N20,000 per person.”
She said further: “Because of this coronavirus, the vulnerable groups have to expand because we are aware that there are people who live on a daily wage.”
Having been responsible for processing transactions valued at hundreds of billions of naira to date, fets’ has since 2011 when it was licensed by the Central Bank of Nigeria as a mobile money operator continue to lead the pack among its peers. Its platform now serves over 2 million customers for payment of bills, money transfers, airtime top-up, among others.
This disbursement further proves fets’ resolve to reach a greater number of the country’s unbanked population through the deployment of its financial technology (Fintech) tools to reflect convenience, reliability, affordability and most importantly, accountability. Fets’ is one of the service payment providers to the federal government.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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