FREE 250,000 FG/CAC BUSINESS NAMES REGISTRATION FOR MSMEs
The Federal Government is offering free Business name registration for MSMEs as Business formalisation Support of the MSME Survival Fund.
As part of Federal Government’s post Covid-19 Pandemic survival intervention to support micro and small businesses to formalise their businesses.
In line with this, the Federal Government has approved the free registration of 6,606 Business Names in each of the 34 states while Abia, Lagos and Kano will have 7,906, 9,084 and 8,406 respectively.
Consequently, all interested Micro and Small Entrepreneurs, Artisans, Craftsmen/Women (one or more persons) that are yet to formalise their businesses should take advantage of this rare opportunity.
Aggregators have been appointed to receive applications from interested persons in line with CAC requirements.
The free registrations will start on the 19th October 2020. To participate in this rare opportunity, go to any of the centres with the following documents to register your business:
- Three (3) Proposed Names
- Two (2) Passport sized photographs
- Valid Means of Identification
- Phone Number/Email address
The names and contact details of the aggregators can be obtained on the Commission’s Website at https://www.cac.gov.ng/wp-content/uploads/2020/10/AGGREGATORS.pdf
Africa to save $5bn annually through payment, settlement platform- AfCFTA Sec-Gen
By Gistflash News
July 9, 2021
Africa Continental Free Trade Area (AfCFTA) said that the launch of the Pan-African Payments and Settlements System (PAPSS) would save the continent an estimated five billion dollars annually.
Mr Wamkele Mene, AfCFTA Secretary General, who revealed this at the 2nd edition of the AfCFTA secretariat quarterly press briefing on Friday, said this would be from the accruals from conversions to dollars.
He said that PAPSS, created in collaboration with the African Export-Import Bank (Afriexim bank), would address the currency conversion challenges for participating countries.
PAPSS is a centralised payment and settlement system created to serve the purpose of low cost and risk controlled payment clearing and settlement system under intra-African trade.
He said that six countries had been set up for the pilot scheme, some of which include; Nigeria, Ghana and Sierra Leone.
Mene projected that by the end of 2021, the secretariat would be in a position to reveal the platform availability for all countries to switch.
“There is an objective that one day, Africa would be a monetary union.
“Converting the about 42 currencies in Africa with its attendant cost of over five billion dollars yearly is a whole lot and so we want to reduce and eliminate this for the purpose of trading.
“Local banks would be able to switch to the platform as we are in consultation with the central banks and by the end of the year, we would be in a position to say the platform is available for all African countries that want to switch to it.
“Afriexim bank has invested over one billion dollars and it is a strong signal that the AfCFTA would work.
“If you run a Small and Medium Enterprise (SME) and you have to use a foreign platform for transaction, it is constraining and costly.
“With this system of payments, we would be able to enhance the effectiveness and competitiveness of SME as it addresses the constraints and costs associated with trade,” he said.
Mene also noted that the Rules of Origin mechanism of trade was at 86 per cent completion, even though the secretariat was gearing for 90 per cent completion before application.
Mene also stated that sensitisation and advocacy campaigns on the intricacies of the AfCFTA were a shared responsibility between participating states and the AfCFTA secretariat.
He revealed that an Africa business forum for the whole continent would be hosted later in the year to raise additional awareness.
This, Mene, said would also serve as a complementary step to what the various participating countries’ governments were already doing nationally on sensitisation.
“It is very important that the private sector is aware that there are export opportunities that this market creates and how they can maximally benefit from it.
“In all my visits to various participating countries, I have met with the private sector as a way to inform and incorporate them into what the AfCFTA is about,” he said.
Over 750,000 persons embrace family planning in Taraba – TCI
By Gistflash News
July 8, 2021
Proffer solutions to urban housing deficit, Fashola urges FHA board
By Gistflash News
July 8, 2021
The Minister of Works and Housing, Mr Babatunde Fashola has called on the newly inaugurated board of the Federal Housing Authority (FHA) to proffer solutions to urban housing deficit in the country.
The minister made this call to the members, while inaugurating the board on Thursday in Abuja.
“It is not true that the country has 23 million housing deficit, rather it is a case of many empty and locked up houses across the country.
“The talk that Nigeria has 23 million housing deficit is a lie. We have no scientific or logical basis. The housing problem is an urban problem let’s be honest about it.
“Many of the people who are renting houses in the cities have big empty houses in their villages so let’s understand this. In the urban centres, whether it’s Lagos, Port harcourt, Owerri, Kaduna, Kano, Ibadan there are empty unoccupied houses.
“So one of the things you need to begin to do is to rethink and understand how to solve that problem, how do we bring those empty and locked houses to light.
“Because if there are empty houses that people are not living in, does it make sense to say there is a deficit? And there is no city in this country where you won’t see an empty house.
“So don’t be locked by the definition of the past, reappraise the situation with your own understanding, professionalism your own understanding and let us benefit from your experience,’’ he said.
Fashola stressed that one of the key things that the Buhari administration wanted was to use infrastructure as a way of rebuilding and expanding the Nigerian economy.
The minister said that the government also wanted to build a globally competitive economy by investing in the people by access to affordable housing, financial inclusion and generally a better way of life for citizens.
Fashola therefore urged the board members to quickly acquaint themselves of the Act that set up the board in order to carry out their responsibilities in guiding the agency.
“So I would want you to situate your contributions to this board around the parameters of what the government wants to achieve. Essentially your role will be as defined by the law of the Federal Housing Authority Act.
“I urge you to quickly acquaint yourselves with your duties and responsibilities in that Act but largely you will be the thinking mind and conscience of the management.
“So please familiarise yourself with the act that empowers you to sit on this board.’’
Responding, the Chairman of the newly inaugurated board, Mr Lawal Shuaibu appreciated the minister and the government for finding him and his colleagues worthy of the appointment.
Lawal assured the minister that they would give their utmost best given the composition of the members, “you have a machine to move the FHA forward’’.
Present at the inauguration are the Minister of State of Works and Housing, Mr Abubakar Aliyu, the Permanent Secretary FMWH Mr Babangida Hussaini who is also a member of the 12-man board.
Among members are Mrs Chinere Omokoro, Mrs Olajumoke Akinwunmi, Mr Adamu Mayadafe.
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