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Tunisia’s Central Bank Keeps Key Rate Unchanged

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Tunisia’s central bank held its key interest rate unchanged at 6.25%, warning that the war in Ukraine would have big repercussions on public finances and increase inflation.

The central bank cut the rate in October 2020 by 50 basis points, aiming to stimulate investment and push faltering growth. That followed a 100-basis-point rate cut the previous March in response to the coronavirus outbreak.

The Bank said the rise in global prices for food and energy due to Russia’s invasion of Ukraine would worsen the current deficit in Tunisia and increase inflationary pressures, in the absence of urgent appropriate decisions in Tunis.

This situation would exacerbate the budget deficit and additional financing needs,” the bank said in statement, adding that rising prices for oil and grains will have “major effects on public finances” for Tunisia.

The bank called on the authorities to tighten vigilance and adopt a proactive approach to mitigate the repercussions of the Russian-Ukrainian crisis on national economic activity and overall balances.

Tunisia’s annual inflation rate reached 6.7% in January, as Tunisians suffer the loss of some foods, including sugar, oil, rice and flour,? ?prompting unions to warn of a social explosion.

Tunisia, which subsidises domestic fuel prices and some foods, already was seeking a foreign rescue package to help it avert a crisis in its public finances before the war in Ukraine led to jumps in global oil and grains prices.

The 2022 budget is based on an average oil price of $75 a barrel, so higher purchasing costs could widen the forecast fiscal deficit already equivalent to 6.7% of the economy. Last month, the energy ministry said each increase of one dollar in the price Tunisia had to pay for hydrocarbons would cost the state 140 million dinars.

Nigerian Banks Stop Use Of ATM, POS Transactions Abroad

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Deposit Money Banks are suspending their Automated Teller Machine cards, debit and credit, from working overseas as dollar scarcity continues to hit the economy badly.

 Also suspended by the banks are online transactions priced in foreign currencies.

Zenith Bank on Wednesday announced the suspension of their overseas ATM card services

Last month, the United Bank of Africa (UBA) also took a similar move, lowering the international spending limit on its naira card from $100 to $20 a month.

In a note sent to its customers on Wednesday, the financial institution said it would temporarily suspend international ATMs and point of sales (POS) transactions.

This means that customers of the banks will no longer be able to use their debit or credit cards to make online transactions that are denominated in dollars, euros, pounds sterling and other foreign currencies.

This is despite the fact that many banks have in the past few months reduced the monthly total amount of forex-denominated transactions that customers can do, using their naira debit or credit cards via ATMs and PoS terminals abroad as well as online payments or transactions.

Expert Calls On Govt To Pay Attention To Regulation Of Genetically Modified Foods

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Nigerian government have been urged to pay better attention to the regulation of genetically modified foods.

A nutrition security expert, Adedotun Owolabi, made this call , urging the government to focus on encouraging the fortification of locally produced food products to ensure they have the important nutrients.

He also noted that  Nigerian nation should look into the importation and consumption of foods containing genetically modified organisms because of the uncertainty about its safety.

Owolabi while stressing that such foods should be regulated noted that the absence of regulation on it was inappropriate.

The nutritionist noted that the safety of GMO foods is still a contentious issue around the world, adding that while most European countries have banned them due to health concerns, they have received favourable regulations in the United States and Brazil.

Recall that in 2021, Nigeria introduced genetically modified seeds through the National Bio-safety Management Agency.

Speaking at a workshop, the Director-General of the agency, Rufus Ebegba had stated that safe science and technology have been known to be drivers of economic change the world over, adding that Nigeria cannot be left behind.

Owolabi, who is a food and nutrition security expert, also noted that Nigeria should focus on the bio-fortification of food products to ensure that they contain nutrients that may be lacking in such food produce.

According to Owolabi, bio-fortification is the process of breeding staple crops to have higher levels of essential nutrients either through selective breeding or genetic modification.

“In Nigeria, we do not have regulations that support GMO foods. Instead of GMO foods, Nigeria should talk more about biological fortification of staple foods- Bio-fortification.”

“That is if a food product is lacking in a particular nutrient, this nutrient that is lacking can be introduced into the foods through conventional breeding or genetic engineering.”

The nutrition security expert said while there has been no conclusive evidence to support or ban the use of GMOs, it should still not be left unregulated.

He urged the Federal government to formulate policies and regulations on GMO foods to protect the citizens.

According to experts, genetically modified organisms are any organisms whose genetic material has been altered using genetic engineering techniques.

Some examples of it include a wide range of organisms, from insects and plants to animals used in food production.

According to a recent report published online, GMO products remain controversial among environmental and natural living groups.

According to the article, opponents of genetic modification worry that genetic changes may affect human health in unanticipated ways, adding that there is concern that the nutrients from these products may damage tissue or not metabolise as effectively as non-GMO foods.

It also noted the lack of knowledge on the long-term effects of consuming GMO products.

Owolabi said, “The safety of GMO foods all over the world, is still very uncertain that is why some countries such as France and Germany have banned growing genetically modified foods.”

UNICEF Lauds Kaduna For Registering 680,888 Vulnerable Households

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UNICEF has lauded the Kaduna Government for capturing 680, 888 poor and vulnerable households into the State Social Register.

A Child Protection Specialist, UNICEF Kaduna office, Dr Wilfred Mamah, gave the commendation in an interview with the News Men in Kaduna.

He commended the Kaduna State Operation Coordinating Unit (KADSOCU) for giving the ”poor and vulnerable a voice” during the process of generating the register.

Mamah however, noted that there was no inclusion of children in the Community-Based Targeting (CBT) process used in populating the register.

“We want to see children as leaders of tomorrow, contributing to decisions that concern them. UNICEF will work with SOCU to see how that can happen during the CBT process,” he said.

Mamah further pointed out that data management was critical in child protection system strengthening, adding that UNICEF would support SOCU in developing and managing credible data of the poor and vulnerable in the state.

He said that the measure was crucial, as dealing with children was different from dealing with adults.

He further explained that, the state Child Welfare and Protection Law 2018 provides the needed legal framework in handling issues related to children in the state.

He also said that the Ministry of Human Services and Social Development in charge of child protection was handling data on children differently from the data managed by SOCU.

The child protection specialist stressed the need for working synergy between the two MDAs to share skills and understanding of children’s data management.

The State Government said that no fewer than 2.6 million individuals have been captured in the Social Register with 680,888 poor and vulnerable households.

The state Commissioner, Planning and Budget Commission, Sani Abdullahi said that KADSOCU has delivered on a robust social register of poor and vulnerable households.

He said the state government is poised to reduce poverty and ensure social inclusion among citizens.

He explained that the state government has provided over N4billion in the 2022 Budget for pro-poor interventions that seek to support the vulnerable and ensure social inclusion among the urban and rural poor citizens across the state.

Committee Charged To Sustain Polio Elimination In Nigeria under Review

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The Expert Review Committee of the National Primary Healthcare Development Agency (NPHCDA) has been charged to sustain Nigeria’s polio-free status.

The Executive Director and Chief Executive Officer of the National Primary Healthcare Development Agency. Dr. Faisal Shuaib, gave the charge at the 38th Meeting of the Expert Review Committee of Polio and Routine Immunization holding in Abuja.

He said that following were the recommendations from the 37th ERC meeting in 2019, appreciable progress were made in both Routine Immunization and the control of circulating Variant Polio Virus type 2 (cVPV2).

” For Routine Immunization, the country is steadily improving from the 33 percent coverage in 2016 to 56 percent in 2022 according to the latest MICS/NICS report. We recognize that before the pandemic we had reached 71 percent within two years. The cVDPV2, has been a major concern during the last ERC meeting, and today the outbreak has snow-balled to even greater proportions to become one of the greatest challenges the country has faced in the polio programme, apart from the recent detection of Wild Polio Virus type 1 (WPV1) in Malawi in February, and WPV 3 report in Israel this March. This brings it very close to home that it is not over until it is over. The report from Malawi indicates that we must strengthen our system in order to avoid an outbreak of WPV in Nigeria”. Dr. Shuaib said.

He said that the 37th ERC had offered Nigeria guidance on how to contain cVPV2 spread, which has unfortunately now spread more to affect 29 States of the federation and FCT, including states in the Southern zones of the country as at the time.

“One of this guidelines was the use of novel Oral Polio vaccine (nOPV2) which has been shown to be effective in halting the spread of cVPV2. So far all 36 States and FCT have completed at least two rounds of nOPV2, 18 states have completed at least four rounds of nOPV2 Outbreak Response, 3 states have completed three rounds, while an additional 16 states have completed at least two rounds of nOPV2 Outbreak response. In 2020, our surveillance had picked and detected 22 cases of CDVPV2, in 2021, 1027 cases and in 2022, 11 cases have already been detected. Although the figures may look scary, it is a demonstration that our surveillance system is effective, reliable and also means that if there is a Wild Polio Virus in circulation, it would have been detected”. Dr. Shuaib said.

The ED added that he hopes that the 38th meeting of the ERC will produce recommendations that will guide Nigeria in halting the rampaging outbreak of cVPV2 in the country and scale up Routine Immunisation coverages.

The Chairman of the National Primary Healthcare Development Agency (NPHCDA) Review Committee On Polio And Routine Immunization, Prof. Akin Osibogun, who expressed happiness on being chosen to serve, said that given the ease of human travel, it has become imperative for the committee to uphold the Nigerian Polio Eradication programme.

” Nigeria has fought a long and hard battle with the wild polio virus before its certification as a wild polio virus free country. With the recent wild Polio virus type 1 in Malawi it has become imperative for us to urgently put in place strategies to prevent importation of the virus. The reconstitution of this Expert review committee is one of such strategies and the leadership of the NPHCDA must be commended for being proactive“. Prof. Osibogun said.

He said that the objectives of the committee is essentially to advise on strategies to prevent re-introduction of wild polio virus in Nigeria.

He reiterated that it was important to sustain the commitments to earlier gains are not lost and promised that they will do their utmost in ensuring that Nigeria is rid of all forms of the polio virus.

Members of the previous committee led by Prof. Oyewole Tomori were appreciated and given awards of recognition for diligently serving in the 37th Expert Review Committee.

The meeting continues in Abuja.

Vice President Osinbajo Lauds WAEC At 70

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Vice President of Nigeria, Yemi Osinbajo has commended the West African Examination Council, WAEC, for its prompt response to the difficulties some students encountered with the National Identification Number (NIN), which enabled the affected candidates to sit for the exams.

Osinbajo was speaking when he received a delegation of the West African Examinations Council (WAEC) in town for the Council’s 70th Annual Meeting at the Presidential Villa, Abuja.

He told the delegation that beyond core regulatory roles, government agencies must always show that they are responsible to the people that they serve and that they hold them in high esteem.

Osinbajo praised the examinations body for responding to the challenges with the NIMC portal at the time and allowing affected candidates to sit for the exams.

The vice president also spoke on WAEC’s digital certification, pointing out that its records would never be lost.

Yemi Osinbajo, Vice President of Nigeria

He congratulated WAEC on its achievement since it was established about 70 years ago.

While highlighting the important role of the Council in the nation’s educational development, Osinbajo said many Nigerians have benefitted from the WAEC certification over the years.

In her remark, the leader of the Nigerian members of WAEC, who is also the Director, Basic & Secondary Education, Federal Ministry of Education, Binta Abdulkadir, expressed gratitude to the Federal Government of Nigeria for the opportunity to host the 70th Annual Council Meeting, as well as the support to the Council over the years.

She added that the Council is the highest decision-making body of WAEC with membership drawn from the five-member countries – Nigeria, the Gambia, Sierra Leone, Liberia, and Ghana.

According to her, the Annual Council Meeting provides a forum for the examination body to deliberate on qualitative and educational assessment, encouragement of academic and moral excellence, promotion of human resource development and enhancement of international cooperation among the five-member countries.

Foundation Speaks up for Albinism

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The Founder of the Albino Foundation, Mr. Jake Epelle, says albinism is not contagious but hereditary, contrary to beliefs in many quarters. He stated this during an interview in abuja on Sunday.

Epelle said that the foundation was established in 2006 to address issues of albinism, which occurs in persons with limited production of melanin.

“It is hereditary and it is not contagious; because of the limited melanin, you have a pale colour in the eye, skin and hair. When you have this, you are referred to as Oculocutaneous albinism. The second aspect has to do with ocular albinism that is this individual has some measurable quantity of melanin, but it is not enough to correct defection in the eyes.”

“So, you find the person with black hair and maybe a kind of skin tone that is referred to as ocular albinism. It is simply a skin condition. It doesn’t limit you from doing anything you ought to do. We have challenges with our eyes and not being able to stand the harsh effect of the sun but we are normal people” Epelle said.

According to him, oftentimes, people think that albinism is contagious and so, when a pregnant woman sees a person with albinism, she thinks she will give birth to a child with albinism.

“It passes from one generation to the other. For instance, my parents had me because they both have the gene. For you to be an individual with albinism, the gene has to be in both parents” he said.

Epelle said that the foundation had created awareness on issues of albinism which educated the public on the correct information.

He added that the formulation of better policies to address issues of albinism was hampered by a lack of accurate data on albinism in the country.

According to him, the foundation has carried out research in about eight states to identify areas with the highest number of persons with albinism, with some surprising results.

“As an organisation and the country in general, there is a need for us to be accurate but the big problem is, we don’t have accurate figures and that brings us to the issue of data; we need accurate data.”

“We have done some research in about eight states and a few surprises sprung up. The data show that the country has more persons with albinism in Kogi than in Enugu State, contrary to the belief that it is more prevalent in Enugu State” he said.

Epelle said that Nigeria had a high number of persons with albinism compared to other countries.

He said that the foundation had agreed to work with the National Population Commission to capture albinism in the forthcoming census, which would enable the country to generate accurate data.

On funding of the foundation’s activities, Epelle said that the European Union provided a grant to which the Federal Government is a signatory.

“So, in terms of government support, we get platform support and funding from a few international bodies and those funding are geared toward projects,” he said.

According to him, some individuals and corporate organisations also assist the foundation with funds.

He commended the National Hospital, Abuja for its support in the treatment of cancer in persons living with albinism.

Epelle said that the foundation would continue to strive to address not just issues of albinism but issues that affect people living with disabilities in Nigeria.

Russia-Ukraine War: Bennett Holds Back-To-Back Phone Calls with Putin, Zelensky on Ceasefire Efforts

Israeli Prime Minister Naftali Bennett left a cabinet meeting on Monday evening in order to hold back-to-back phone calls with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky.

The call with Putin lasted for roughly an hour and a half, during which the two men discussed efforts to reach a ceasefire in Ukraine, as well as efforts to allow access to Israeli humanitarian aid, a diplomatic official told reporters.

The official said Putin complained to Bennett about the “barbaric” acts of Ukrainian soldiers in the separatist-held Donetsk region in eastern Ukraine, where Russia claims 20 civilians were killed. Those reports remain unconfirmed.

A statement from the Kremlin carried by Russian news agencies said Putin shared with Bennett his “assessments” on the negotiation process with Ukraine.

Bennett last spoke with Putin on March 6, a day after the two met in Moscow.

Bennett’s trip was seen as an effort to further develop Bennett’s potential role as a mediator between the sides, as Israel has good relations with both Kyiv and Moscow.

Bennett has also spoken with Zelensky multiple times since Moscow’s troops invaded Ukraine, though the two men have not met in person.

In a tweet Monday, Zelensky said, “We exchanged information on our joint steps and steps of our partners against the background of Russian aggression. Agreed on further actions.”

During Monday’s cabinet meeting, Bennett said Israel was managing its response to Russia’s war on Ukraine with “sensitivity and responsibility,” pushing back against criticism over the fact that Jerusalem has failed to take stronger action against Moscow over the invasion of its neighbor.

E-fraud Poses Major Threat To Digital Finance,” says CBN

The Central Bank of Nigeria (CBN) has identified e-fraud as the greatest threat to digital finance.

The Director, Consumer Affairs Bureau, Nigerian Communications Commission (NCC), Efosa Idehen, disclosed this while speaking at the Secondary School debate organized by  the NCC in collaboration with Save the Consumer in Abuja.

The theme of the event was “Should Secondary School Students Use Mobile Phones To Enhance Education?”.

Idehen said that this was to create awareness and save consumers from e-fraud and to educate the young ones on the proper use of e-channels for financial services.

“According to the CBN, e-fraud is costing the Nigerian financial sector whopping sums of money.

“As technology evolves, there is a growing concern over the rising trend in fraud perpetuated on telecom platforms across key sectors of the Nigerian economy known as e-fraud.

The Central Bank of Nigeria (CBN) rates e-fraud as the biggest risk in the sector, which has widely affected electronic payment solutions such as Automated Teller Machines (ATMs), Nigeria Inter-Bank Settlement System (NIBBS) Instant Payment and mobile banking.

“…Attackers are now targeting telecom networks with the aim to disrupt service delivery and infiltrate their data bank, SIM swaps, Unstructured Supplementary Service Data (USSD) and e-payment fraud.

“To address this menace, the commission actively collaborates with critical stakeholders such as CBN, the Nigerian Police (NPF), the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC) and other relevant bodies in the fight against e-banking fraudsters,” Idehen disclosed.

Central Bank Of Nigeria to Introduce Bank Cash Centres

The Central Bank of Nigeria (CBN) on Monday released a draft guideline for the registration and operation of Bank Neutral Cash Hubs (BNCH) which are to serve as central cash deposit points for bank customers across the country.

According to the draft guideline released yesterday, BNCHs will provide a platform for customers to make cash deposits and receive value irrespective of the bank with which their account is domiciled.

The CBN noted that the guideline aims to provide minimum standards and requirements for BNCH registration and operations for effective supervision. This move, it said, is in line with the Nigerian Cash Management System (NCMS) which seeks to reduce cost and improve operational efficiency in the country’s cash management value chain.

The guidelines explained that BNCHs which are; cash collection centers are to be established by registered processing companies or Deposit Money Banks (DMBs) based on business needs.

“They will be located in areas with high volumes of commercial activities and cash transactions.

ting up Bank Neutral Cash Hubs (BNCH) is to reduce the risks and cost borne by banks, merchants and huge cash handlers in the course of cash management activities; deepen financial inclusion; and leverage on shared services to enhance cash management efficiency.”

Activities that are permissible for BNCHs under the guideline include “receipt of naira denominated deposits on behalf of financial institutions from individuals and businesses with high volumes of cash. High volume cash disbursement to members of the public on behalf of financial institutions,” it stressed.

These banks are, however, barred from carrying out investing or lending activities. They are also not allowed to receive, disburse, or engage in any transaction involving foreign currency or sub-contract another entity to carry out its operations as well as undertake any other transaction not prescribed by the guideline.

Only deposit money banks and cash processing companies are allowed to apply for a BNCH registration and they are expected to provide a non-refundable application fee of N100,000 and a non-refundable approval fee of N500,000