Business
RMAFC Boss Charges ACTU Members On Integrity and Accountability, Calls for Adherence to Core Values
Joel Ajayi
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), on Thursday, 30th July 2025, commenced a two-day induction and orientation training in Nasarawa State for newly inaugurated members of its Anti-Corruption and Transparency Unit (ACTU).
Speaking at the opening session, the Chairman of the Commission, Dr. Mohammad Bello Shehu, OFR, represented by Director Human Resource and Administration Mr. Rabiu Kabir urged the members to uphold the highest standards of integrity, responsibility, and commitment to national interest in the discharge of their duties.
He remarked, “ACTU’s mission to promote transparency and a corruption-free system aligns perfectly with our mandate, and I am confident that our collaboration will yield significant benefits.”
Dr. Shehu noted that the Commission was undergoing a critical phase, having recently achieved a major milestone with the signing of the RMAFC Bill into law by President Bola Ahmed Tinubu. He emphasized the need for them to demonstrate the Commission’s core values of fairness, justice, and equity.
Chairman also reiterated RMAFC’s shared vision with ACTU in contributing to national development, affirming the Commission’s commitment to supporting the unit while expecting equal dedication and diligence in return
In his closing remarks on behalf of the ACTU Chairman, the Secretary of the Unit, Mr. Mohammed Bashir Umar who described the training as a success, thanked all the participants for their commitment. He obseeved that the exercise had equipped members with the knowledge of how and when to apply extant rules effectively. “It is our responsibility to alert management to areas where the system is not functioning optimally,” he added.
He further highlighted the importance of ACTU within any organisation and urged members to remain proactive in identifying and addressing any irregularities. “ACTU is a special unit, each of us has a duty to strive toward correcting any abnormality we encounter,” he said.
The scope of the training covered several critical areas, including: Budget Monitoring and Implementation, Conduct of System Study and Review by ACTU, Overview of the ACTU Standing Order and Overview of Ethics and Integrity Compliance Study
Business
NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit
By Joel Ajayi
The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.
For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.
Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).
The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.
According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.
Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.
Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.
With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.
-
Featured6 years agoLampard Names New Chelsea Manager
-
Featured5 years agoFG To Extends Lockdown In FCT, Lagos Ogun states For 7days
-
Featured6 years agoChildren Custody: Court Adjourns Mike Ezuruonye, Wife’s Case To April 7
-
Featured6 years agoNYSC Dismisses Report Of DG’s Plan To Islamize Benue Orientation Camp
-
Featured4 years agoTransfer Saga: How Mikel Obi Refused to compensate me After I Linked Him Worth $4m Deal In Kuwait SC – Okafor
-
Sports3 years ago
TINUBU LAMBAST DELE MOMODU
-
News9 months agoZulu to Super Eagles B team, President Tinubu is happy with you
-
Featured6 years ago
Board urges FG to establish one-stop rehabilitation centres in 6 geopolitical zones
