04 Nov

Daily Watch – Saraki submits ministers’ list, 6.6 million BVNs yet to be linked to accounts

  • Senate President, Bukola Saraki has submitted by hand, the list of 36 Nigerians cleared by the Senate as ministers to President Muhammadu Buhari in the Presidential Villa, Abuja. Saraki’s gesture is about the first time a leader of the National Assembly will personally deliver a communication from the legislature to the President.
  • Three days after the expiration of the deadline set for bank customers to register and obtain their Bank Verification Number, the Nigeria Interbank Settlement System Plc has announced that Deposit Money Banks in the country has not yet linked 6.6 million BVNs to the matching bank accounts. The NIBSS, owned by the CBN and commercial banks in the country, is the technical organisation appointed by CBN and the Bankers’ Committee to be in charge of the BVN project.
  • Speaking at the the 17th edition of the Abuja International Motor Fair, Vice President, Yemi Osinbajo said that top functionaries of the Federal Government may be compelled to buy made-in-Nigeria vehicles as official cars and other uses as a part of measures to boost local production of motor vehicles. The VP also hinted at plans to review the nation’s automotive policy introduced in September 2013 to curtail the influx of used and fully assembled vehicles.
  • The Egbin Power Station is being owed a debt of N39 billion for the power it generated into the national grid from November 1, 2013 to date, and this has created a liquidity crisis that is hampering optimal operation of the plant, says its Chairman, Kola Adesina. Egbin Power Plc is the largest power generating station in Nigeria with an installed capacity of 1,320MW consisting of six units of 220MW each. According to Adesina, the liquidity crisis has been the result of inconsistent regulation. Investors in the plant are however looking to add 1,350 megawatts to the 1,320 megawatt-capacity plant, to hit a generation target of 2,670 megawatts by 2019.