HEADLINENEWS.NEWS Correspondent gathered that the Managing Director/CEO of Financial Derivatives Company Limited, Bismarck Rewane has alleged that some civil servants bought 50kg bags of rice at N40,000 and resold it at N85,000.
Rewane disclosed this on Thursday in an interview with Channels Television.
Although the Federal Government had withdrawn the sale of subsidised 50 kilogramme bag of rice for N40,000 to public servants, the renowned economist described the new price as a ‘parallel market’ as it has increased by 3.62 per cent to N85,000 from 83,000 despite the government’s subsidized price of N40,000.
The sale of the subsidised rice was announced on August 1 2024 through the Ministry of Special Duties and Inter-Governmental Affairs Human Resources Management Department. The announcement was aimed at cautioning the effect of the national protests which commenced August 1 2024.
He said, “Our team went into the market yesterday (Wednesday),…The price of rice coincidently went up by 3.62 per cent to N85,000.
“This is happening at the time the federal government is selling rice to public servants at N40,000 per 50-kilogram bag.
“While in what I can now describe as the parallel market for rice stood at N85,000. What happens is that the civil servant will buy at N40,000 per bag and sell at N85,000, that is inefficient.”
Aa document obtained by WESTERN POST titled: “RE: SALE OF SUBSIDISED RICE TO PUBLIC SERVANTS”, stated that “As port of federal government’s efforts to alleviate the current food crisis in the country and its effects on the general population, I am directed to inform you that 50kg bags of rice will be sold et © subsidized rote of Thousands Naira (N40,000) only per bag to interested public servants in Abuja.
“For effective implementation, all interested staff are required to complete a Google form on the OHCSF website. https//www.ohesf.gov.ng. print and submit some to Director HR for endorsement payment and distribution of the rice will be coordinated by designated officials while the chairman, Joint Union Council of the Ministry is required to serve as an observer during the period of the exercise for the purpose of transparency.
“I am to further add that each staff is only entitled to purchase one bag. Two or more staff may also jointly pay for a bag for sharing among themselves.
“Please bring the contents of this circular to the attention of staff in your respective Departments/Units for information and guidance,” the memo signed by Mrs. Jaiyesim Abimbola Aderonke (Mrs.) Director, Human Resource Management, stated.
However, in another memo, dated August 2 2024, government stated: “I am directed to refer to our internal circular in the Ministry (Federal Ministry of Special Duties and Inter-Governmental Affairs) of lst August. 2024 on the above subject matter and to inform you that the Internal Circular is hereby withdrawn.
“Further details will be communicated in due course. Please, bring the contents of this internal circular to the attention of staff in your respective Departments and Unite for their information and proper guidance,” Jaiyesim announced.
