Amadeus introduces credit card through GDS
Amadeus, a provider of advanced technology solutions for the global travel industry, has partnered industry players to make the use of credit card payments through the Global Distribution System possible.
The company obtained the necessary billing and settlement plan certification from the International Air Transport Association on the usage of credit cards for payment of travel services through the Amadeus system in Nigeria and Ghana, making it the first GDS to accept credit card payments.
The General Manager, Nigeria and Ghana, Amadeus, Yann Gilbert, was quoted in a statement by the firm to have said, “Our goal is to offer our travel agencies solutions that will make their business operations more efficient. We are the first GDS to enable credit card payments, which bring numerous cash flow benefits to our travel agency customers.
FG secures $150m from World Bank for mining sector
The Federal Government has secured $150m from the World Bank for the solid minerals sector support and economic diversification.
The Minister of Mines and Steel Development, Dr. Kayode Fayemi, disclosed this while briefing the press in Abuja on Monday on the activities of the ministry in 2016.
He also said that the ministry was seeking to raise $600m investment fund for the sector in alliance with the Nigerian Stock Exchange and the Nigerian Sovereign Investment Authority.
According to the minister, the World Bank fund will be used to provide technical assistance for the restructuring of the Mining Investment Fund.
Lagos flags off Rent-To-Own housing policy
Lagos state government officially flagged off its “Rent-to-Own” housing scheme at different places across the state which include Sir Michael Otedola Housing Estate, Odoragunsen,Epe, where the Deputy Governor, Mrs. Idiat Adebule, represented Governor Akinwunmi Ambode.
The Deputy Governor stated while deliverying the governor’s address that 4,355 units in 12 Housing Estates spread across the three Senatorial Districts will be dedicated to the programme.
FG Budgets N185bn For New Initiatives.
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, said in Abuja the Federal Government had earmarked N185bn in the 2017 budget for new initiatives.
Udoma announced this at Public Presentation of the 2017 Budget Proposals in Abuja.
President Muhammadu Buhari presented the budget proposal of N7.30tn to the National Assembly on December 14.
The minister identified the initiatives as the Social Housing Programme; Special Economic Zone Projects; Export-Expansion Grant; and Recapitalisation of the Bank of Industry.
He said, “Some of the new initiatives are the provision of the N100bn for new Social Housing Programme which the aim is to create a one trillion Fund. The government contribution is N900bn.
NPA to write off N119bn ‘bad debts’
The management of Nigerian Ports Authority (NPA) has written off N119 billion bad debts. The debts are monies owned the agency by terminal operators and some of its partners in the last ten years. The Managing Director of the Authority, Ms Hadiza Bala Usman, said that private companies and government agencies owe NPA about N10 billion and $585million (N180 billion).
According to her, most of the entries which constitute the “bad debt” were made on land leased out by the organization to private companies but which were encumbered and could not be possessed by the lessees. She said appropriate steps would be taken to write the debt off NPA’s books.