The Commerce Africa https://thecommerceafrica.com African Reneissance Sat, 16 Mar 2024 16:30:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 CAC, NFIU Synergise to remove Nigeria from the grey list of financial Action Task Force https://thecommerceafrica.com/cac-nfiu-synergise-to-remove-nigeria-from-the-grey-list-of-financial-action-task-force/ https://thecommerceafrica.com/cac-nfiu-synergise-to-remove-nigeria-from-the-grey-list-of-financial-action-task-force/#respond Sat, 16 Mar 2024 16:24:41 +0000 https://thecommerceafrica.com/?p=16340
The Corporate Affairs Commission (CAC) has resolved to  Synergise   with the Nigeria Financial Intelligence Unit (NFIU) to ensure that Nigeria exits the grey list of the Financial Action Task Force.

The Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji, SAN, gave the assurance today while receiving the Director/CEO of the NFIU, Hafsat Abubakar Bakari, on a courtesy visit to the Commission.

Hussaini Magaji approved the immediate set-up of a joint committee with the NFIU and a dedicated desk to handle all its matters.

The CAC boss added that the existing MOU between the two agencies will be reviewed for greater efficiency.

While urging the NFIU to ensure optimal utilization of the Application Programming Interface (API) granted to it by the CAC, Ishaq Magaji used the forum to call for knowledge sharing and capacity building for the benefit of staff.

Earlier, the Director/CEO of the of the Nigerian Finance Intelligence Unit (NFIU), Hafsat Abubakar Bakari, acknowledged the strong relationship existing between the NFIU and the CAC towards strengthening the fight against money laundering, illicit financial flows, and other serious predicate offences in Nigeria.

Hafsat Abubakar therefore said that as an agency that relies on access to reliable and high-quality data, the NFIU was pleased with the strides made by the CAC in developing a world-class Beneficial Ownership Information Register.

She added that the BOI was critical to the NFIU and law enforcement agencies as they utilise it to trace and identify the beneficiaries of illicit proceeds.

She therefore called for greater collaboration to support the efforts of the Federal Government to ensure Nigeria exits the FATF grey list in the shortest possible time.

According to the NFIU boss, CAC’s role was critical, as two of the 15 items on its action plan fall squarely within the remit of the Commission.

The  high point of the visit was a presentation by the NFIU titled “Renewed Strategic Partnership between the Nigerian Financial Intelligence Unit (NFIU) and Corporate Affairs Commission (CAC)
Enhancing Transparency, Integrity, Compliance, and Accountability in Nigeria’s Financial and Business Sector

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Nigeria has lost out in agricultural export markets -WTO DG12th March 2024 https://thecommerceafrica.com/nigeria-has-lost-out-in-agricultural-export-markets-wto-dg12th-march-2024/ https://thecommerceafrica.com/nigeria-has-lost-out-in-agricultural-export-markets-wto-dg12th-march-2024/#respond Wed, 13 Mar 2024 13:25:28 +0000 https://thecommerceafrica.com/?p=16337 The World Trade Organisation, on Tuesday, said Nigeria had relinquished its leading position in the agriculture export market because a lot of its agricultural commodities do not meet the sanitary and phytosanitary measures required for exportation.

It also pointed out that despite the abundance of arable lands and increased investments, the nation has transitioned into a net importer of farm produce that was previously cultivated domestically, undermining efforts aimed at ensuring food sustainability.

The Director General of the World Trade Organisation, Ngozi Okonjo-Iweala, disclosed this at the launch of seven trade support programmes initiated by the WTO-ITC to boost the development of Nigeria’s trade and industry standards in Abuja.

The initiatives namely the Standards Trade Development Facility, Digital Trade Initiative support, Women Exporters Entrepreneurship support, National Trade Portal and cotton development initiative aim to provide technical support to strengthen food safety, animal and plant health capacity in developing countries, address challenges of e-commerce digital trade divide and establish a world-class technology centre for all trade-related data and information in Nigeria.

She said, “We are launching today with STDF, ITC, and the NEPC, a project to help with international safety and quality certification for sesame and cowpeas or black-eyed peas.

“The agriculture sector in Nigeria has the potential to be a major driver of export diversification and job creation – but too much of this potential remains unrealised, due to a variety of barriers.

“In fact, Nigeria has not only lost out in agricultural export markets, it is a net food importer spending about billions a year on goods, many of which we can also produce here.

“Some of Nigeria’s unrealised potential has to do with trade-related problems on the supply side – and that is what this project is seeking to rectify.”

Specifically, the WTO DG mentioned that Nigerian cowpea and sesame exports have increasingly faced rejections in several destination markets due to non-compliance with international SPS requirements.

She said the failure to comply with regional, global and import country sanitary and phytosanitary standards has resulted in loss of sales, revenue, and hard currency due to export rejects.

Last week, the former finance minister charged Nigeria and other African countries to improve the quality of their shea exports to international standards.

She added, “Nigeria is the world’s largest producer and consumer of cowpeas. Sesame is primarily an export crop, and Nigeria is the world’s fourth leading producer, exporting to the EU, Türkiye, Japan, South Korea and other Asian markets. However, Nigerian cowpea and sesame exports have increasingly faced rejections in several destination markets due to non-compliance with international SPS requirements”.

said for example, “Nigeria accounts for over a third of Japan’s sesame imports – but health and safety inspections during the past few years have found instances where pesticide residue levels were nearly double the maximum residue limits permissible from 2019 to 2021.”

To tackle the challenges, Okonjo-Iweala noted that WTO is partnering with relevant stakeholders to build the capacities of stakeholders across the sesame and cowpeas value chains to better understand market access requirements and improve agricultural practices such as pesticide application, hygiene techniques, harvest and post-harvest methods, and food safety.

She said the project which will be implemented with $1.2 million funding will improve the country’s non-oil export.

On her part, the Minister of Industry, Trade and Investment, Doris Aniete, said the ministry is putting in place policies and mechanisms that will facilitate and enhance trade, while also removing all the bottlenecks hampering trade and investment.

She further stated that the Ministry has started rolling out the 50 Billion Naira Presidential Conditional Grant Scheme through the Bank of Industry, targeting various economic players adding that an N150bn intervention through the FGN MSME and Manufacturing Sector Funds, providing low-interest loans that are pivotal for scaling businesses and spurring job creation will commence very soon.

“We are achieving this by facilitating a strong enabling environment for businesses to thrive, developing robust policies and reforms, increasing access to financing, widening access to global markets, driving investments, and creating job opportunities, all in line with the vision of Mr President.

“In 2024 we are focused on improving infrastructural capacity such as power and transport, as well as soft infrastructure such as transparent regulation, policy consistency, the rule of law, and a culture of efficient collaboration and synergy among various government agencies and offices. We believe this will facilitate an environment where business operations are not hindered by red tape but can continue to thrive,” she said.

Also speaking, the Executive Director of the Nigerian Export Promotion Council, Nonye Ayeni, explained that the project expected to last for three years will enhance the quality and standard of sesame and cowpea through the institution of good Sanitary and Phyto-sanitary conducts.

She disclosed that in 2022, the worldwide value of sesame exports and its value chain amounted to $7.35bn, projected to surge to $9.27bn by 2032. Similarly, cowpeas were valued at $7.2bn in 2023, with an anticipated rise to $9.43bn by 2028.

“This project, STDF 845, will therefore enhance the quality and standard of sesame and cowpea through the institution of good Sanitary and Phyto-sanitary conducts, Good Agricultural and Warehousing Practices, packaging/labelling and excellent storage systems. All these are expected to forestall frequent contract cancellations and loss of business opportunities while allowing a significant increase in global acceptance of the items and for better quality of these products consumed locally

“This project is designed to last for three years to enhance the integrity of the cowpea and Sesame value chain from Nigeria. Therefore, the focus lies on improved practices that will enable Nigerian stakeholders to comply with Maximum Residue Levels of selected pesticides used in Cowpeas and Sesame and Microbiological contamination with Salmonella (Sesame). Overall, it will improve the regulatory and control system as well as farming and processing practices applied for Cowpea and Sesame,” she concluded.

Nonye Ayeni, Executive Director/Chief Executive Officer NEPC
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Rewane’s ‘four big shortages’ turn logic on its head https://thecommerceafrica.com/rewanes-four-big-shortages-turn-logic-on-its-head/ https://thecommerceafrica.com/rewanes-four-big-shortages-turn-logic-on-its-head/#respond Wed, 13 Mar 2024 10:19:52 +0000 https://thecommerceafrica.com/?p=16328 Susceptible to critique, accomplished banker-cum-administrator Bismarck Rewane was on Channels Television recently to analyse how the Central Bank of Nigeria’s Monetary Policy Committee hiked the Monetary Policy Rate (MPR) from 18.75 percent to 22.5 percent (400 basis points) will affect Nigerians. Elaborating on what he termed the audacity of the monetary policy against the backdrop of a crisis of confidence rocking society, the seasoned economist, who doubles as the managing director of Financial Derivatives Company Limited, posited that four (4) things are scarce in Nigeria. These are dollars, electricity, food, and truth in that numerical order. A combination of the said shortages, we are told, is responsible for the discontent (protests) witnessed in some Nigerian cities lately.

Plausible as it sounds, Rewane’s postulation of four (4) big shortages in Nigeria would appear to stand logic on its head. Let us interrogate a few of the assumptions at this juncture. For starters, is it really true that the dollar is scarce in Nigeria? Honestly, to me, the answer to that question should depend on who is looking for that currency. And the scope of the search. Likewise, how could anyone justify the claim of a food shortage in the nation? With large-scale hoarding of essential items in warehouses across the six (6) geo-political zones, smuggling of commodities by unscrupulous merchants to neighbouring countries, and post-harvest losses of agricultural produce in millions of metric tonnes, the situation may very will be labelled “mismanagement, no dearth of resources.’’

This brings one to the fourth shortage of items claimed by Rewane to be the most important factor needed by Nigerians more than anything else’. Pray, when did truth become scarce in the country? If one might even ask, what is the truth? Simon W. Blackburn, distinguished research professor at the University of North Carolina, USA, and author of the book “Truth: A Guide and Others,” views truth in metaphysics as the property of sentences or assertions said in ordinary discourse to agree with the facts or to state what is the case. Simply put, truth is the aim of belief, which sustains humanity. Suffice it to say, that what Egbon Rewane believes to be true may not be factually correct for Wemambu. Without a doubt, it may not be said to be absolute but relative, depending on who is saying what. Different strokes, you might say, for different folks.

Come to think of it, what would you say fiery personalities like Former President Olusegun Obasanjo, Cardinal John Onaiyekan, Archbishop Ignatius Kaigama, Bishop Matthew Kukah, Sultan Sa’ad Abubakar III, Former Emir Sanusi Lamido Sanusi II, Sheikh Nuru Khalid, Pa Edwin Clark, Gen. T.Y. Danjuma, Pastor Tunde Bakare, PANDEV, Ohaneze Ndigbo, Afenifere, and Arewa Consultative Forum, among others, have been doing this over the years regarding the issue of governance in Nigeria. Of course, speaking truth to power!

Clearly, from the aforementioned instances of individuals constructively engaging the government in the task of nation-building, it should be difficult to sell the idea of a shortage of truth in Nigeria. What definitely is lacking under the prevailing circumstances is the political will of the ruling class to listen to the strong and resolute voices of truth clamouring for improved welfare and security of the citizenry. Talking about the imperatives of justiciability in Chapter II, especially Section 14 (2)(b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).”

By the way, concerns have been expressed in a few quarters regarding the existence or not of recipes for finding truth. However, in the long run, the issue may boil down to whether some things are absolute and objective or all things are relative and subjective. I rest my case.

Patrick Wemambu, a journalist wrote this piece and published in BusinessDay

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Nigeria must feed its  people and have enough for Export- President Tinubu https://thecommerceafrica.com/nigeria-must-feed-its-people-and-have-enough-for-export-president-tinubu/ https://thecommerceafrica.com/nigeria-must-feed-its-people-and-have-enough-for-export-president-tinubu/#respond Mon, 11 Mar 2024 19:07:56 +0000 https://thecommerceafrica.com/?p=16325 President Bola Tinubu on Monday flagged off the Food Security and Agricultural Mechanization Programme in Niger State, emphasizing that his administration remains committed to ensuring food sufficiency and protecting local industries for sustainable economic growth.

The project, an initiative of the Niger State government, is for the deployment of cutting-edge agricultural machinery and technology for large-scale agro-value chain development in the state.

Speaking at the inauguration, President Tinubu said the event represents another step in the food security and agricultural mechanization agenda, declaring that Nigeria must enhance its capacity to feed its people and have enough for export.

“We have seen the level of commitment here. We have seen leadership. The success of any leader will depend on the ability to do what needs to be done when it ought to be done. It is now time for us to address the challenges and make Nigeria an economy of opportunities. We must care for our people; re-orient our people. I do not see why Nigeria cannot feed all students in its schools.

“I know what it means for roaming cows to eat crops and the vegetation of our land. I know it is painful. But when we re-orient the herder and make provision for cattle rearing, we can address that. You are the governors who are to provide us with land. I, as President, I am committed to providing a comprehensive programme that will solve this problem,” the President said.

President Tinubu also urged sub-national governments, as an immediate intervention measure, to implement wage awards in their states to complement the efforts of the federal government in easing the burden of citizens, pending when the minimum wage is increased.

“I am equally here to partner with you to banish hunger. You are doing the job. And it is necessary for me to support you; it is mandatory as Nigerians. When you read newspapers, some of us are confused about whether to abuse the past or the present or to make excuses for the future. But that is not in my dictionary. I think action now, re-engineer the finances of our country and steer it on the right path.

“The student loan programme will commence. There will be unemployment benefits for our graduates. The social security benefits for the elderly and the vulnerable will commence. We are fine-tuning all of that area. We need to relieve our people of hunger. Let all the sub-nationals start paying wage awards, pending when the minimum wage is increased. I am not giving an order; I am only appealing. NEC should adopt this,” the President said.

Appreciating the President for honouring his invitation and inaugurating the facilities, Governor Mohammed Umar Bago said four states, Benue, Kogi, Kwara, and Lagos had already signed memoranda of understanding on building partnerships for the development of agriculture.

“Mr. President, your presence here today underscores the importance of this occasion for our state in particular and Nigeria as a whole, as we gather to celebrate a good example demonstrated in our modest contribution to infrastructure and agricultural development encapsulated in our New Niger Agenda.

“For us, agriculture is key to addressing the challenges in critical sectors of our economy, and we shall seize every opportunity for the attainment of growth and engender prosperity for the people of our beloved state and by extension our country, Nigeria,” the Governor said.

The Minister of Agriculture and Food Security, Senator Abubakar Kyari disclosed that the federal government had signed an agreement with the Brazilian Government and German Deutsch Bank Group as financiers of a facility of 995 million euros for the Green Imperative Programme which will provide mechanization hubs across the 774 local government areas in Nigeria when implemented.

“A memorandum of understanding between the federal government and the John Deer Group, a subsidiary of Tata Equipment, was signed. The manufacturer has signed to deliver 10,000 units of tractors and implement in tranches of 2,000 units per annum for the next five years.

“The Greener Hope Initiative is another veritable platform the federal government is deploying to ultimately change the deficit narrative in the Nigerian agricultural mechanization space,’’ he added.

While in Niger State, President Tinubu also visited former Nigerian Heads of State, General Ibrahim Badamasi Babangida, and General Abdulsalami Abubakar with whom he had fruitful discussions concerning the advancement of the nation.

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No more leave of absence for health workers relocating abroad – FG https://thecommerceafrica.com/no-more-leave-of-absence-for-health-workers-relocating-abroad-fg/ https://thecommerceafrica.com/no-more-leave-of-absence-for-health-workers-relocating-abroad-fg/#respond Sun, 10 Mar 2024 11:34:19 +0000 https://thecommerceafrica.com/?p=16321 The Minister of State for Health, Dr. Tunji Alausa, on Saturday, said that the Federal Government had directed that health workers going abroad to seek greener pastures must henceforth resign their appointments before embarking on such journeys.

Alausa said the era of health workers exiting to other countries in search of better offers after applying for a leave of absence is no longer acceptable.

The minister said that the ban on the leave of absence for health workers emanated from the executive order issued by President Bola Tinubu as part of drastic steps to combat the challenge of brain drain fondly called ‘Japa Syndrome’ confronting the nation’s health sector.

This is just as Alausa also revealed that the FG has commenced the production of manpower in the health sector such that the annual enrolment of nurses which used to be 28,000 is now 68,000 and that by the end of this year, it would have gone up to 120,000.

The minister stated this on Saturday during his visit to the Neuro-Psychiatric Hospital, Aro, Abeokuta, Ogun State.

He said that the President considered the biggest asset of the country to be the people and has not only vowed but has taken proactive actions to ensure the health sector is in good shape so that the health of the citizens won’t suffer.

Speaking on the challenge of manpower shortages across the FG-owned health institutions, Alausa said, “The government is not unmindful of the Japa effect on our manpower in the health sector and the President has ordered for massive production of manpower such that when people go, there will always be replacement.

“It is against this background that we are working intensely on the enrolment of our nurses. What used to be 28,000 is now 68,000 and our intention is to take it to 120,000 by the end of the year, so there will always be abundant skilled manpower to take over from those leaving the job.

“We have equally doubled our enrolment for doctors, dentistry, pharmacists among others

“Again, we didn’t say anyone who wants to move or japa to the UK or Australia to take up appointments there should not go, it is a free world.”

minister continued, “However, you cannot eat your cake and have it. If you are going, just resign your appointments with the Federal Government, rather than applying for leave of absence, that is the Presidential executive order that has been communicated to all the Chief Medical Directors of Federal Government-owned health facilities to implement.

“The problem with the leave of absence is that such a fellow is out there in the UK or Australia working, making money but his name still appears on the payment roll of the government and so to replace him is difficult because he is still being considered as a staff whereas he has left the country.

“So, to solve this problem, the President has directed that health workers going abroad to work should just resign their appointments and not apply for leave of absence. This way, you won’t be blocking others who want to work and of course piling burdens for your colleagues that you left behind.”

Responding to some of the demands of the hospital such as increased funding, infrastructural development, among other welfare packages, Alausa said that the ministry would leave no stone unturned to do all that is necessary to improve the fortunes of the health sector in the country.

Speaking earlier, the Provost and Chief Medical Director of the hospital, Dr. Paul Agboola, lauded the Minister for his selflessness and passion to turn things around for good in the health sector.

The CMD said that as a result of the approval given by the Minister, his administration had started projects such as the Institute of Psychiatric for the hospital which had been in the pipeline for about 40 years, amongst others.

Credit:Taiwo Bankole contributed this report and published in Punch

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Policy Formulation and Execution Must Be Guided By Research Outcomes – President Tinubu Directs Ministers https://thecommerceafrica.com/policy-formulation-and-execution-must-be-guided-by-research-outcomes-president-tinubu-directs-ministers/ https://thecommerceafrica.com/policy-formulation-and-execution-must-be-guided-by-research-outcomes-president-tinubu-directs-ministers/#respond Fri, 08 Mar 2024 11:45:44 +0000 https://thecommerceafrica.com/?p=16318



President Bola Tinubu has directed relevant Ministries, Departments, and Agencies (MDA) of the Federal Government to ensure that the outcomes of research in science and technology are used to enrich policies that impact the real sector.

The President issued the directive when the President of the Nigerian Academy of Science and the fellows of the Academy paid a courtesy visit to the President at the State House in Abuja on Thursday.

President Tinubu emphasized that his administration is advancing an all-encompassing approach to leveraging the capacity of Nigerians to innovate and create solutions from all spheres of human initiative across the public and private sectors, including farming, manufacturing, information technology, and the academia.

“The pathway to unlocking the potential of our national contribution to the global economy of tomorrow lies in what we do today. I am fully committed to the comprehensive integration of research, and the outcomes of research with the process of policy formulation and implementation in all fields of national endeavour,” President Tinubu told leaders of the Nigerian Academy of Science (NAS).

During his investiture as the Grand Patron of Science by the Academy, the President said the pace of change around the world, reflected in some national and global challenges, requires more reliance on research for solutions and actionable data, especially in health and education.

“The Minister of Education, the Coordinating Minister of Health and Social Welfare, and the Minister of Budget and Economic Planning are here. All the relevant ministries should sit up and ensure that science research guides process development in relevant areas of advantage. We must not fail to utilize research outcomes in the process of enriching our policies,” the President said.

In her remarks, the President of the Nigerian Academy of Science, Professor Ekanem Braide, said a national research fund should be established as the country moves towards a knowledge-driven economy.

“Mr. President, we thank you for your support for a national research fund and we believe that this will go a long way in resolving our challenges and indeed, we can make quicker progress if we take advantage of the inputs of all Nigerians from the business community, the academia, and the public sector,” Professor Braide said.

Listing some of the interventions and achievements of the Academy in improving the lives of Nigerians, Professor Braide further advised that the nation’s 265 universities, 84 polytechnics, and 205 colleges of education be upscaled in science research infrastructure and funding.

The President acknowledged the historic feat of Professor Ekanem Braide in emerging as the first female President of the Nigerian Academy of Science since its establishment in 1977

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AfCFTA: Nigeria commences export to S’Africa, others in April https://thecommerceafrica.com/afcfta-nigeria-commences-export-to-safrica-others-in-april/ https://thecommerceafrica.com/afcfta-nigeria-commences-export-to-safrica-others-in-april/#respond Fri, 08 Mar 2024 06:20:32 +0000 https://thecommerceafrica.com/?p=16314 Nigeria is to begin the formal export of locally produced commodities to South Africa, Rwanda, Cameroon and Kenya from next month under the Guided Trade Initiative of the African Continental Free Trade Area, the national centre of AfCFTA announced on Thursday.

Although some businesses in Nigeria currently export products to these countries, they make such exports informally, but beginning April, Nigerian companies would start the official and formal export of commodities to African nations under the AfCFTA treaty.

The African Continental Free Trade Area is a free trade agreement established among 54 of the 55 African Union nations, creating the largest free trade area in the world by the number of participating countries.

Speaking on the sidelines of the Abuja Stakeholders Workshop on the AfCFTA Digital Trade Protocol, on Thursday, the Executive Secretary, National Action Committee on AfCFTA, Olusegun Awolowo, told journalists that though trading under the main AfCFTA had yet to start, the secretariat of the programme had introduced the Guided Trade Initiative.

He said, “We haven’t started trading in AfCFTA, we are duly going through the protocols. But recently the AfCFTA secretariat itself launched what they call the Guided Trade Initiative to get some countries to start trading outside their regional blocks.

“We’ve signed onto it and I think that by the end of April we are taking a few companies, big, medium and small enterprises to actually launch trading in Africa. All we are doing now is that we are going through and signing all the protocols, as well as finding a way on how to implement them.

“So we are now at the stage of implementation. Therefore, trading hasn’t really commenced under AfCFTA. It is not an overnight thing, you have to go through all the protocols, sign them and agree.

“However, we are hoping that we are able to start trading under the GTI, not on the main AfCFTA itself, by the end of April. So it will be on record that Nigeria has now started exporting officially and formally, because, of course, informal trade is going on anyway.”

Asked to name some of the countries that had also signed onto the GTI scheme which Nigeria would formally start exporting products to, Awolowo replied, “We are going to South Africa, Kenya, Cameroon and Rwanda. This is under the Guided Trade Initiative that was brought by AfCFTA, knowing that trade agreements take long.

“In fact, this AfCFTA is the fastest one. How long did it take the World Trade Organisation to get on ground? They are still signing protocols up till today. But this is fastest one and to fast-track it, that is what the GTI is all about.

“It is an initiative that enables countries to chose. Let’s take the companies and let them actually export from the various ports. Then we test the capacities of the ports, test the capacities of the shipments and the capacities of cargoes. Then the private sector can fully buy into it. So that’s what is going to happen.”

Established in March 2018, the AfCFTA became effective on May 30, 2019, with the goal to boost intra-African trade, foster economic development and create a larger, more competitive African market.

The benefits of the agreement include increased trade and investment opportunities, creation of jobs, improved living standards and enhanced economic diversification and transformation.

It, however, has some challenges which include the difficulty in the implementation of trade facilitation measures, addressing infrastructure gaps, and building productive capacity.

Experts say the AfCFTA has the potential to be a game-changer for Africa, but its success will depend on overcoming these challenges and ensuring all member states can participate effectively.

Speaking about the workshop, Awolowo stated that the adoption of the AfCFTA Digital Trade Protocol marked a significant milestone in the journey towards economic integration and digital transformation.

“It signifies our collective commitment to leveraging digital technologies to enhance intra-African trade, foster innovation, and drive sustainable economic growth.

“In the wake of this landmark achievement, it is imperative that we equip ourselves with the requisite knowledge and resources to seize the opportunities that lie ahead. Trade is competitive!

“In this regard, it is imperative that all stakeholders, particularly our esteemed Nigerian youth, embrace the AfCFTA Digital Trade Protocol as a catalyst for job creation, wealth generation, and socio-economic empowerment.

“The digital economy holds unparalleled potential to empower our youth, unleash their entrepreneurial spirit, and facilitate their meaningful participation in the global marketplace.”

On his part, the Senior Special Assistant to the President on Legal, Research and Compliance Matters in the Office of the Vice President, Bashir Maidugu, advised the government to get the youths involved in AfCFTA Digital trade.

“Nigeria is the largest market in Africa and we are leading in the digital e-commerce space, but what the government is advised to do is to encourage the youths and other professional bodies to utilise the opportunity of the AfCFTA to boost the Nigerian economy.

“So the government will have to pay more attention to Nigerian youths, who are already dominating in Africa, for example, Flutterwave, Konga, Jiji and so many other online stores and fintech payment systems.

“The government can be more active in developing the skills of these youths who are the driving force for digital trade. So the attention could be by funding universities and other research institutes and e-learning centres. This is to ensure that we maintain our dominance and add more,” Maidugu stated.

Credit: Okechukwu Nnodium wrote this story for Punch

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Buhari, ex-SGF’s signatures forged to move $6.2m from CBN -Forensic expert https://thecommerceafrica.com/buhari-ex-sgfs-signatures-forged-to-move-6-2m-from-cbn-forensic-expert/ https://thecommerceafrica.com/buhari-ex-sgfs-signatures-forged-to-move-6-2m-from-cbn-forensic-expert/#respond Thu, 07 Mar 2024 14:33:35 +0000 https://thecommerceafrica.com/?p=16310 A forensic document examiner seconded to the Economic and Financial Crimes Commission, Bamaiyi Haruna on Thursday said the analysis conducted on the documents used to release $6.2m from the Central Bank of Nigeria in February 2023 showed that they were forged.

The EFCC had alleged that on February 8, 2023, a former CBN governor, Godwin Emefiele, connived with one Odoh Ocheme, who is now on the run, to obtain $6.2m from the CBN, claiming that it was requested by the SGF “vide a letter dated 26th January 2023 with Ref No. SGF.43/L.01/.

The anti-graft agency also alleged that Emefiele, in January 2023, forged a document titled: “RE: PRESIDENTIAL DIRECTIVE ON FOREIGN ELECTION OBSERVER MISSIONS,” dated 26 January 2023 with Ref No. SGF.43/L.01/201.

At the last adjourned date, a former Secretary to the Government of the Federation, Boss Mustapha, noted that the documents did not emanate from former President Muhammadu Buhari or his office.

Mustapha also told the court that the Federal Government had no business with foreign election observers.

Haruna, who is the sixth prosecution witness in the matter, stated that the real signatures of Buhari and the ex-SGF were analysed with the ones in the documents were not the same.

He said, “The conclusion from the analysis revealed that the disputed documents showed evidence of forgery and copying art as the pen movement form and formation of the signatures and the skill of execution were found to be different from that of the specimen signatures A to A2 and B to Bi

“The form and formation of the signatures marked x and the specimen signature marked B to B1 were found to be different in respect of pen movement impulses, skill of execution, loop formation, and presence of tremors, there were individual characteristics. This is a confirmation that the author of the specimen signatures marked B to B1 does not rhyme with the signature of Buhari on the disputed document marked X.

“Also, the form and formation of the disputed signatures marked X1 and Specimen signature A2 were also found to be different in respect to pen movement impulses. Initial and terminal strokes, loop formation, presence of tremors, and individual characteristics. This is also a confirmation that the author of the specimen signature marked A2 did not rhyme with the signature of Boss Mustapha on the disputed document marked X1.”

Counsel for the EFCC, Rotimi Oyedepo(SAN), applied to the court to tender the forensic report dated January 25, 2024, and other documents attached as exhibits.

Emefiele’s lawyer, Mathew Burkaa (SAN), did not oppose.

Justice Hamza Muazu subsequently admitted as evident and marked them exhibits FDE.

During cross-examination, Burkaa asked how would the court determine whether two signatures are similar or dissimilar.

The witness urged the court to rely on the report.

When asked if Emefiele’s signature was analysed, he said no.

Also asked if EFCC operatives submitted the materials analysed, Haruna said, “Operatives of EFCC submitted the request to the department. ”

Burkaa asked if they were the ones who pointed out the disputed signatures.

He said, “The submitting authority did”.

The matter was subsequently adjourned till March 11.

Credit:The Punch

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US supreme court ruling on Trump ballot ban: five key takeaways https://thecommerceafrica.com/us-supreme-court-ruling-on-trump-ballot-ban-five-key-takeaways/ https://thecommerceafrica.com/us-supreme-court-ruling-on-trump-ballot-ban-five-key-takeaways/#respond Wed, 06 Mar 2024 17:45:37 +0000 https://thecommerceafrica.com/?p=16307 The US supreme court ruled on Monday that the former president Donald Trump cannot be kept off the ballot in Colorado, foreclosing a series of legal challenges the Republican frontrunner faced in multiple states as he seeks a return to the White House.

The 14th amendment’s third clause, enacted after the US civil war, seeks to prevent people who were elected officials who engaged in insurrection from then holding office again. It has been rarely used since, but was resurrected by advocacy groups and voters who claim it applies to Trump because of his attempts to overturn the 2020 election results.

The court’s nine justices agreed that a state can’t remove a federal candidate from its ballot. Though the decision was unanimous, briefs filed separately indicate tension among the justices about how far the majority opinion went.

Because the case involved an obscure part of the constitution, the court had to parse questions of how the clause works and to whom it applies. And, perhaps most critically, the court’s decision held tremendous capacity for disruption during an election year with a leading candidate known to rile up his followers.

Here are some key takeaways from the decision and the broader context at play.

State v federal rights at heart of issue

The core of the decision rests simply on the interplay between state and federal rights.

Though states administer federal elections, the court decided states have no authority to remove a candidate from the running under section 3. Instead, the majority opinion noted, the 14th amendment “expanded federal power at the expense of state autonomy”. Allowing states to do as Colorado did would “invert the Fourteenth Amendment’s rebalancing of federal and state power”.

The language of the clause doesn’t include any direction on how a state could enforce it, the majority said. Only Congress is mentioned as an enforcer, they argue.

States could, and did, use the section to disqualify state candidates from holding office if they violate the insurrectionist clause, the majority wrote.

This federalism argument was clearly agreed to by all nine justices – though the majority opinion goes on further to suggest how Congress might act to enforce the clause in the future.

Justices Amy Coney Barrett, Sonia Sotomayor, Elena Kagan and Ketanji Brown Jackson all wrote, in two separate opinions, that the majority opinion went too far.

The decision that states lack the authority here “provides a secure and sufficient basis to resolve this case”, the liberal justices (Sotomayor, Kagan and Jackson) wrote. “The Court should have started and ended its opinion with this conclusion.”

Tension among the justices on how far the ruling goes

The justices’ unanimity in the belief that the Colorado court couldn’t remove Trump was fractured by two addendums that strike at the extension of the case beyond its scope.

The court’s majority – the conservative justices John Roberts, Brett Kavanaugh, Samuel Alito, Clarence Thomas and Neil Gorsuch – specified how the insurrectionist clause would need to be enforced. It would require an act of Congress to determine who would be ineligible to hold office because of insurrection, they wrote, relying on another section of the 14th amendment to make the case.

The liberal justices, in one separate opinion, and the conservative Barrett, in her own, said the majority went too far by prescribing what kind of process would be needed.

The case did not require the justices to “address the complicated question whether federal legislation is the exclusive vehicle through which Section 3 can be enforced”, Barrett wrote. Because of the sensitivity of the issue and its context, the justices should have left it with the federalism justification alone. “In my judgment, this is not the time to amplify disagreement with stridency,” she wrote.

The liberal justices took this disagreement further, saying the majority opinion moved into constitutional questions it didn’t need to as a way to “insulate this court and petitioner from future controversy”.

The case did not involve federal action; it was a state court in Colorado that decided Trump could not be on the ballot there. The majority did not need to move into contested federal issues, the liberals said. “These musings are as inadequately supported as they are gratuitous.”

No decision on whether Trump engaged in insurrection

What’s left entirely unsaid in the court’s opinions issued on Monday is whether Trump engaged in insurrection.

A finding that Trump had himself engaged in insurrection would have been required for keeping the former president off the ballot. The clause says that a person could be disqualified from holding office again if they had “engaged in insurrection or rebellion”.

Trump and his team fought against this claim, saying his actions after the 2020 election did not constitute an insurrection. Instead, he argued, January 6 was more akin to a “riot” and his comments to his followers, which some have contended amounted to incitement, were protected by the first amendment. In Colorado, the state supreme court had concluded that he incited his followers to engage in insurrection, which met the definition for engaging in insurrection.

The legal cases against Trump over his election subversion will continue unabated by any opining by the high court about whether he is an insurrectionist.

The potential for mayhem/violence was high because of this case

The 2024 election was already marked by tension because of the presence of Trump; his ability to direct his followers is unparalleled in American politics.

The cases against Trump in several states – for election subversion, hush-money claims, keeping classified documents and business fraud – have not injured his standing with his followers, but instead seemingly solidified or even amplified their support.

The 14th amendment cases entered into this fraught dynamic, throwing yet another legal bomb, albeit an obscure one, that gave Trump’s followers further belief that there is a conspiracy against Trump’s ability to run for re-election.

On the campaign trail, Trump has used these legal liabilities to his benefit, claiming they are evidence of election interference and a sign that President Joe Biden, not he, is a threat to democracy.

A survey focused on political violence conducted by the University of Chicago’s Chicago Project on Security & Threats in January showed that the court’s decision on the 14th amendment held the potential for further support of political violence, regardless of how the court decided, because of the extreme partisan divide on the issue.

Trump called the decision “very well-crafted” and said he thought it would bring the country together. Most states were “thrilled” to have Trump on the ballot, he said, but others didn’t want him on there for “political reasons” and because of “poll numbers”.

The court clearly considered the political implications

While courts often claim to avoid wading in on political questions, politics clearly played into how the court decided on this case. The implications of how removing Trump could play out electorally are contemplated throughout the opinions.

The potential that a candidate could be ineligible in some states, leading to a “patchwork” effect, would disrupt voters, the majority wrote in their opinion.

“An evolving electoral map could dramatically change the behavior of voters, parties, and States across the country, in different ways and at different times,” the majority wrote. “The disruption would be all the more acute – and could nullify the votes of millions and change the election result – if Section 3 enforcement were attempted after the Nation has voted. Nothing in the Constitution requires that we endure such chaos – arriving at any time or different times, up to and perhaps beyond the Inauguration.”

It wasn’t just politics with the election itself or the public at large that came into view; the political dynamics between the justices showed through as well.

The liberal justices jabbed at the majority opinion for its extension of the case into how Congress would need to act, claiming that was an attempt to “insulate all alleged insurrectionists from future challenges to their holding federal office”.

Barrett, in her separate opinion, tried to strike a conciliatory note. She called attention to the fact that the court unanimously decided on a “politically charged issue in the volatile season of a Presidential election”. The court’s goal, she said, should be to turn down the national temperature instead of inflame it.

“For present purposes, our differences are far less important than our unanimity: All nine Justices agree on the outcome of this case,” she wrote. “That is the message Americans should take home.”

Credit: Rachael Leingang wrote this report for The Guardian

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Upscale the Quality of Your Products to Meet global standards, WTO DG charges Shea Producers https://thecommerceafrica.com/upscale-the-quality-of-your-products-to-meet-global-standards-wto-dg-charges-shea-producers/ https://thecommerceafrica.com/upscale-the-quality-of-your-products-to-meet-global-standards-wto-dg-charges-shea-producers/#respond Wed, 06 Mar 2024 13:53:13 +0000 https://thecommerceafrica.com/?p=16303 The World Trade Organisation, on Tuesday, charged Nigeria and other African countries to improve the quality of their shea exports, as a lot of the commodities do not meet the sanitary and phytosanitary measures required for export.

It also pointed out that despite the clear benefits and advantages in the production of shea, much of the potential of this commodity was still untapped. WTO is an international organisation that deals with the global rules of trade between nations, established in 1995, and headquartered in Geneva, Switzerland.

The shea tree, native to the savannas of West Africa, produces the shea nut. The shea tree is a valuable resource for local communities, as the nuts can be used to produce shea butter, which is a source of income and can be used for medicinal purposes.

The Director-General, WTO, Dr Ngozi Okonjo-Iweala, while delivering a virtual address at the 2024 Shea Annual Conference organised by the Global Shea Alliance in Abuja, said it was crucial to look at the shea value chain beyond farming and processing for butter.

She said, “At the WTO, shea is one of the main agricultural export of over eight of our members including Benin, Burkina Faso, Côte D’Ivoire, Ghana, Mali, Nigeria and Togo. In Ghana alone, shea butter exports were valued at over $92m in 2022, and over one million women are involved in this sector.

“However, despite the clear benefits and advantages that shea brings to our women, much of the potential of this sector is still untapped. A lot of our shea products do not meet the sanitary and phytosanitary measures required for export, and this is hindering many countries from being able to export.

“In addition, it is crucial that we look at the shea value chain beyond farming and processing for butter. How can we in Africa begin to manufacture more finished shea products?”

Okonjo-Iweala stated that her organisation had been assisting Nigerians and other countries to improve on the export of shea products, as this would impact positively the economy of the concerned nations.

“When I first took office as WTO DG, I met with a group from a shea cooperative in Oyo State who participated in an event organised by the Nigerian Export Promotion Council.

“The WTO, International Trade Centre and NEPC had all worked together to build the capacity of the cooperative to produce good quality shea butter that met international safety and quality standards.

“This cooperative had once been prevented from exporting, but with the work done by all the agencies, they were able to receive the international safety certification that allows them to export to the United States, United Kingdom, Middle East and South Africa.

“The incomes of the women rose and even tripled. And many of them told me how they had been able to pay for their children’s university education and also invest in side businesses. This is the power of trade and how it can work for people,” the WTO boss stated.

She told delegates at the conference that the WTO was founded so that trade could help to raise living standards, create jobs and promote sustainable development, adding that “shea butter, specifically trade in shea butter, can help with these objectives.”

Okonjo-Iweala said, “Shea butter has been referred to as women’s gold for centuries. Currently over 16 million women in West Africa make a living from farming and processing of shea nuts.

“It is estimated that women make $237m in direct income from shea. 85 per cent of all shea exports are used as cocoa butter equivalence and 15 per cent are used for cosmetics.

“The cosmetics shea butter market is currently worth over $600m and it is expected to reach about $850m by the end of 2027. So we have to look at how African women can further benefit from this sector.”

On her part, the Chief Executive Officer, Nigerian Export Promotion Council, Nonye Ayeni, said Nigeria is among the major producers of shea globally.

“It may interest you to know that the following countries account for the largest producers of shea in the world, representing 60 per cent of global production. These countries are Burkina Faso, Mali, Ghana, Nigeria and Cote D’Ivoire,” she stated.

Ayeni stated that a cursory look at the global value of shea production and export showed that in 2023, the production and value of shea along the value chain was $2.17bn, while it was expected to grow at a Compound Annual Growth Rate of 7.1 per cent by 2030, representing the sum of $5.8bn.

“Global market value for chocolate is estimated to be approximately $113.16bn in 2021 and expected to reach $156.74bn in 2030. For the cosmetics industry, it stands at $380.2bn and is expected to reach $453bn in 2026.

“Presently, more countries like India, Japan and South Korea are approving the use of shea butter as cocoa butter equivalent, apart from China, Italy and Netherlands, that are among the leading importers of shea butter, there is therefore ready market for quality shea butter in the international market.

“Nigeria is one of the major producers of shea in the world. It is on record that presently, the country has about five million hectares of shea trees which are grown in about 21 states of the federation especially in Niger, Kebbi, Oyo, Kwara, Benue and Federal Capital Territory,” Ayeni stated.

The NEPC boss noted that the opportunities for shea to transform Nigeria’s economy could be seen in the areas of job creation, value addition and women empowerment.

She told delegates at the conference that the NEPC was doing a lot to enhance the production of the commodity in Nigeria to meet international standards.

“Nigeria is one of the major producers of shea in the world. It is on record that presently, the country has about five million hectares of shea trees which are grown in about 21 states of the federation especially in Niger, Kebbi, Oyo, Kwara, Benue and Federal Capital Territory,” Ayeni stated.

The NEPC boss noted that the opportunities for shea to transform Nigeria’s economy could be seen in the areas of job creation, value addition and women empowerment.

She told delegates at the conference that the NEPC was doing a lot to enhance the production of the commodity in Nigeria to meet international standards.

Okechukwu Nnodium wrote this report for the Punch

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