Vanguard, MONDAY. APRIL 2 , 2012 - 21
News
Financiahtanguartl
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Farmers collect N3bn loans in
Q42011-CBN BYPAOVlOENCBOIUHI
A
total of N3. 378 billion WIll ~ uarante('d to 15,405 farmers under the Agncu1twal Ctt"lid Guanmlee Scheme IACGS) 1D the fourth quarter of 2011. say. the Central Banl of Nigeria leRN) Tha nepft!5en.s t L9 per cent llt'Iprov~ent over the figure guaranteed in the corresponding auarterof 20 10 TIus is containt.-'d in CBN'I Economic Repolt for fourth quarter I!Oded 31" Decembet 201lpubllshed IW its web lite !.utw.u. Sectoral brealulown of the loan guar""lItt!'~ und~ the Icheme with In the year anwcated that lilfo food crops I\i)-Iector received the Largest Ihare of N2 0 IS billion. tepresentmq 59 7 per cent for t 1.328 beneficiaries. while the hvetod.lub~got N16tO milbon, neprescouog 2.5 per cent lor 1.481 bell'!ficiaries Also. 1.085 bo~efiaaries In
the fishenes!r\lb-5edor obta.uxd
N316.9 milli on, which represents 9.4 per Cf!Dt; while other l ub -Iectors obtained NlJ6.8 million. amounting to 4 0 per cent. and guaranteed to 231 beoe6daries. Also, 1,232 beneficumes in the nuxed aop 11JHector recei¥ed l .6 per cent or N 122.4 million. while N2S.7 mtllion represennng 0.8 per cent Will disbu rsed to 48 bene60anes In the cash crop
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However. 3S states benefited (rom the scheme during the quarter WIth the highest and lowestlums of NOLl million. nepresenung 12.8 per Cl'!I1t and N2.3 tnillion. amounbng to 0.f11 per cent guaranteed to farmers In Kano and Ondo Itates, respectively
'"AI end-December 201 1. the tola] amount released by the CBN during the fowth quartf!f under tbe C ommercial Agriculture Credit Scheme ICACS) smce ~on to the partlClpating banb I tood at NISI 02billiooJor 190prqects The benefioanes included 26 Itategavemments.• ~M!
CBN e:s:plaulf!d that nse tn tbe reVJew period was largely due to the gro.wth in the non-oU sector, relative to the COrrel pondmg quarter or 20 10 "Real non-od GOP growth .tood at 9 . 1 per cent and accounted for 85.6 per cent of total GOP 10 the reV'IeW quarter: Real oil GOP. compnsing crude petroleum and natural gill,
1. the
grew by 6.5 per cent when COfIl. pared with the I~ at the preceding quarter of 20 II and accounted for 14.4 percent of the total GDP.-
Mea.nwtuJe, a tolal of feder · alIy-coUected rt!'VeJlue dunng the rourth quarter of 201 1 ltood at N3.025 trillion, represenUng a decline of 9. t per cent over the level in the ~ quarteL
· Of the groll federally coUected rt!'Venue dunng the review quarter, the lum of Nl. 404 trillion (after accounting for all d~uctions and transfen) Will transferred to the Federabon Account for distribuuon among the three bers of government and the Il 0 percent DenvaUon Fund.CBNSoIlld
RIVATE s@ofh'r operators to ItOp coUaboratlng wtUl pubbc and ClVlI lervants In IJetPeUaUng corruption At d retllrng the management 01 the Finanoal Reportlng' Cowu: 1 of Nigena wtuch pald a courtesy call at htJ estabilshme ,t,IheDin!ctorGeneral ofthe BUl'!i!lU of PWbc PrOCUrerJll!Ot CBPJI), Engtneer Emeka Ezell, opi.-,ed that act of corrupllon in the public sector wo u ld be difficult WIthout the colkboration of pnvatesedoropetaton He also warn~ aglll.Olt taILing proJectionl aDd predicttons matJe by western economic InItltutiunl; _ ppel truth. arguing that some o f them were filled with prejudices agaul$' Alnca. He also pledged lhe IUpport of the BPP lor two FRC in its assigned duties of rdomung financial reporting and corporate governance in the
that the order of the court did not mean that he had lorlelt· ed hu properties to the gov· ernment and that the EFCC lacked the powers to appomt Etudo to manage them
Textile workers urge FG to re-industrialise Nigeria, create employment
ha\'e been Jr.lflored
"'"_ The
FRC Executive Secretary. Mr Jim Obaz~, attnbuted the bankmq crilli
wtuch C."OR the MbI", almost N2
trillion to ul.lJitahon of loopholes wtuch emted in the corporate governance m lhe finanaal sectorby ~me banks
ORMER Jllterconbnental Bank Pic Managrng DIrector. Erliltu. Akingbola. on Thursday asILed the Federal f-hg h Court. lagos. to restram the EFCC from demandmg rents bom lui properties that were temporanly forfeited to the Federal Government The court had on Dec. 31 , 2009 granted the EFCCI exparte appbcauon for the tem porallorff'!lture of Alungbola's properues, pending the hearmg and determmatlon of the money laundering case agamst hun AJungbola contented that the Er-cc had no nght to appomt cruef Emelo Etudo to manage and collect rents or mformallon In respect 01 tus propertJes, as Lhey had not been forfeited to the govern·
F
ment H e 15 leelLtng a declaration
BPP chief tasks private sector on corruption
P
Akingbola : Court adjourns till April 13
'From Idt: Dr Mudo Ofalton. DeptJty Director, Development Finance Dept CBN; Dr Herbert Alayt President. NACCI MA ond Engr IsmaiJo SalJu, General ProJect Manager. OJ Otis Eng. neenng ot the 2nd World.,tage: NalJonal Eledr/aty Power Conference held in Logos on Thursdoy. Pholo by LanddJ Bamld e le . •
Product dumping: How Asians are killing made-ln-Nlgerla goods CDDtlnues fro. ~ 2 0
He also blamed the countries hom whee such goods are imported; stresstng that a country like 01ina also t!2pOrtIlbeir producu to United States of Arnmca (USAJ and UJequality oftboRezports II the very best. The AN1..CA boss fAulted them for ddiberalely .. ~ our ccooomywtule bwlding tllCin. He further noted that it lithe duty of the Standard.!: Organisa1jon 0( N''9eOa (SON) to ens~ that the practice SloJ:-. Aa:onling to hun, SON should seek the belp of the international COmrll unity relponaibJe to stop the iJnportalton iUld lhipment of such goods to Nigeria. He further ooe.ed that ISO can help in thia regard by eosuring and eo· forcing the OOO-ilupmClll of lub-ctand.iud goocll to Nigeria. A COIDIIM!ItiaI d.r:iYe" who plies the eash!m route told Pfnondol Vanguard thl'lt he lla~ t!'V'I!:fY other day to ddivrr container fulJ of clothes, bous· log utensils and COSImd.ics lm ported from QUna. Another is assigned to moving shoes. belts and antiquities bam Cllina to dllJermt parts at Nigeria.
They also dtsdosed that there is sales boom "What wempplycanno( butseU. They~wbat people need f!!VefY day. As long lIS you live. you must WNlt clothes and U&e sb08," one of them volunteered Many made-Ul-OJina products have be511ouod 10 be substandard. Traders who spoke Wltb FinClndaJ Vt:Jngtod in Odna Town and CompW5" vtlIoge .n.g.d that those goods "'" only "-p b\&inferior Ihih;s. theydoo'ILMtthotmuch." fl p/lore. Same is true at many other Ounese pnxIUdJ. Efbts logd Ounesea~ 10C'OlllJnel]l on
_phooe_""""utade,m.Ouna
theoe """"""'" """'" _ Tho ...,..,.. OJineIeOaamberdC'.om.mm;r;a bxlUlbyoGk:e IBtaI ooIine .. Adeollan Ogtmoanya. ......... could not be kw:ated at the addreIa. AtlmJpts to speak with IhP! Ounese ComuIate m tagc. ako lzilled. Whm mnladed by pbohe. a respondeol at the P'rotoaIl end Press AftzWJ; chrected RnanoaJ Vanguatd to the Cam.merdal and nade who also directed UI to call another nwnber from wherethete WM m response..
omce.
EG I NALD AgulannaR the outgomg Presi dent, NabonaJ Unton of Tex· Uwa.
hie Garment and Tallonng WorlLers of Nlgella (NUTGIWN) on Thursday urged the Federal Govern· ment to deveJop pobCles that wouJd re-mdUilnalue Nigeria and bnng about employmentgrowth AguJanna-Uwa made the appeal at the URlOn'1 10th Delegates Conlerr:1lCI! In Auha. The theme of the conference II 'ltonsJormlng Niger. la through rf':-indulJllJoi.lJo,
tion, employment aJld det'ent work. H e said lacton .uch al smuggling and falung of la bels had lor over a decade led to the dechne in productIon and closure of many loWe comparues "High COlt of productton as • result of poor power lupply, unreslncted ImportaUon and unfavourable policies. had affected Indultriallsatlon Government mUll look mlo these issu~ ," he saJd