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INEC partners traditional rulers on 99,000 uncollected PVCs in Enugu

INEC partners traditional rulers on 99,000 uncollected PVCs in Enugu - PVCs, INEC, Enugu

The Independent National Electoral Commission () says it will partner traditional rulers to ensure effective distribution of 99,000 uncollected Permanent Voter Cards () in State.
Dr Emeka Ononamadu, the Resident Electoral Commissioner (REC) in the state, made this known on Friday in an interview with the News Agency of Nigeria (NAN) in .
Ononamadu said that INEC had set in motion the new strategy to ensure that all the uncollected were distributed to their owners before the 2019 General Elections.
The REC said though, there had been increase in PVCs collection in the past four months, there was need to improve the collection rate by involving critical stakeholders, especially the traditional rulers.
“We went out of our ways to type and photocopy all names of people who have not collected their PVCs at our local council offices and registration centres.
“We have delivered photocopies of the names to the council of traditional rulers in the state to help in distributing the PVCs according to their communities through the traditional rulers, who are gatekeepers of our communities.

“We have received reports that the council of traditional rulers had also distributed same to the individual traditional rulers for onward action.

“The action is to get their people or reminding them, through native community and families information system, to come to our various council headquarters and registration centres close to them to pick up their PVCs,’’ he said.

Ononamadu said INEC believed that the bottom-up strategy of distribution would enable INEC to reach out to those that have not collected their PVCs to come and collect them.

The REC said that though, the Continuous Voters’ Registration (CVR) would stop on Aug. 31, the collection of PVCs would continue till the last week to the election proper.

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“Collection of the PVCs continues until the last week to the elections.

“So, if anybody register in the CVR before Aug. 31, the person is entitled to have his or her PVCs before the 2019 General Elections,’’ he said.

Ononamadu noted that INEC had put all machineries in place to ensure that Incident Forms were not used again since PVCs would be made available for all.

According to him, the move to stop Incident Forms is being discussed seriously at the national level.

“So, anybody who did not collect his or her PVCs, may be someone who did not present himself or herself for the collection in the first place since we don’t give out PVCs by proxy,’’ he added. (NAN)
Loans for manufacturing, agric, other sectors at 9% : CBN issues guidelines (Lead3)
Agricultural, manufacturing and the sectors considered as growth and employment stimulating, can now borrow long term as much as N10billion at consolidated nine per cent interest rate under new guidelines issued by the Central Bank of Nigeria.

The new credit policy called Guidelines for Accessing Real Sector Support Facility (RSSF) through CRR and Corporate Bonds was released by the CBN today.

And it marks a big departure from the excruciating interest rate regime of 25-30 per cent that has been blamed for stifling enterprises in the country.

The CBN acting Director, Corporate Communications in a statement on Thursday in Abuja said the new directive aimed to increase the flow of credit to the real sector; agriculture and manufacturing.

He said that Deposit Money Banks (DMBs) would henceforth be incentivised to direct affordable, long-term bank credit to the manufacturing, agriculture, as well as other sectors considered by the Bank as employment and growth stimulating.

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He said also that Corporate, Triple-A rated companies would be encouraged to issue long-term Corporate Bonds (CBs).

He said that a CBs Funding Programme had already been put in place to enable the CBN and the general public invest in the CBs.

Furthermore, Okorafor said the Bank had put in place another programme under the Differentiated Cash Reserves Requirement (DCRR) Regime.

He said under the programme, banks interested in providing Credit Financing to new and expansion projects in the real sector could request for the release of funds from their Cash Reserve Ratio (CRR) to finance the projects.

Making further clarifications, Okorafor said that the tenor for the Differentiated CRR would be a minimum of seven years with a two-year moratorium.

For the Corporate Bonds programme, he said the tenor and the moratorium would be specified in the prospectus by the issuing corporate.

He said also that the maximum facility would be N10 billion per project and facilities were to be administered at an Interest rate of 9 per cent per annum.

Okorafor therefore advocated for a total compliance with the guidelines by stakeholders.

He also reiterated CBN’s determination towards the encouragement of projects that would further enhance Nigeria’s import substitution strategies.

The guidelines followed the recommendation of the CBN Monetary Policy Committee (MPC). At its 119th meeting held between 23 and 24 July, the MPC emphasised the need to increase the flow of credit to the real sector of the economy, to consolidate economic recovery.

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