Author: society_admin

CBN Naira4Dollar: Nigerians in Diaspora Made N200million from 1 Week Remittance

The Central Bank of Nigeria’s Naira4Dollar scheme may have attracted about $40 million in foreign remittances in one week, according to a reliable source with knowledge of the scheme.

 

 

 

Sources informs that the scheme had performed a lot more than expected as remittances via commercial banks have picked up suggesting Nigerians in the diaspora have embraced it.

 

 

According to the source, the CBN received circa $40 million last week from remittances up from about $6 million before the policy was introduced. At $40 million a week the CBN could be attracting about $160 million a month or $1.9 billion per annum. This will be higher than the estimated $1.1 billion received in 2020 from diaspora remittances but much lower than the $3.2 billion received in 2019.

 

 

The central bank captures remittances in its Balance of Payment report and the Foreign Exchange Flows data. While the BOP includes non-cash items remitted into Nigeria, the Foreign Exchange Flows Data records cash items only.

It was reported recently that commercial banks in Nigeria are automatically opening domiciliary bank accounts for Beneficiaries of diaspora remittances in Nigeria under the CBN’s Naira4Dollar scheme. As the beneficiary receives the inflows, N5 for every dollar remitted is a credit to the naira account of the beneficiary.

The CBN Naira4Dollar scheme appears to be recording success since its introduction three weeks ago. A $40 million a week inflow suggests most of the dollars are either in domiciliar account of customers or withdrawn and exchanged at the black market.

The CBN believes remittances paid in dollars and sold on the streets will improve liquidity in the retail end, thus strengthening the exchange rate.

However, the latest information suggests the exchange rate between the naira and dollar is N486/$1 higher than the N480/$1 exchanged just before the new policy was introduced.

At $40 million the CBN would have incurred a cost of about N200 million.

Luckybet Launches Mobile App, Promises More Juicy Odds for Users

In a bid to provide the finest betting experience for millions of Nigerians, leading gaming and entertainment company, Luckybet, has launched a new mobile app. 
Announcing the new app on Monday, Marketing Manager, Anthony Onyemauwa, disclosed that the app is designed to introduce users to the broadest range of offerings and opportunities in the sports betting market.
“From inception, our focus has been to creating new and richer experiences for our users by connecting them to a world of endless possibilities. Our new mobile app is not only a demonstration of this commitment, it is a call for users to take charge of their individual destiny by exploring the opportunities offered by our innovative technology,” Onyemauwa said.
“The app is safe, secure, easy to use and generally offers an incredible user experience.  It also boasts of a great variety of bets and competitive odds from both the domestic and global betting markets. By downloading the app, users are ushered into a world where they can change their own lives forever.”
Onyemauwa explained that the mobile betting app, which is also available on the web platform, provides users tons of betting options, including the highest odds on virtual games and a mouth-watering 250% accumulated bonus.
Licensed by the Lagos Lotteries Board and widely acclaimed by punters as one of the most reliable online betting platforms in Nigeria, Luckybet is committed to empowering users to become luckier and live the life of their dreams.
Download the app here [https://bit.ly/2P1F92y].

Men are also being Harassed Sexually – US Envoy

Pics Source: Lakov Filimonov / shutterstock

The First Secretary of the United States of America Embassy in Nigeria, Madison Conoley, has said the male gender should also be considered as victims of sexual harassment while finding a solution to the scourge.

 

 

 

He stated this on Tuesday at Bowen University, Iwo, Osun State, during an interview with journalists on the sidelines of the 16th annual conference and celebration of the 75th anniversary of the Fulbright programme.

 

 

The envoy said, “We very much support the association’s (Fulbright Alumni Association of Nigeria) efforts to address the issues in a transparent way.

“We know from empirical studies that men are not only aggressors, they are also victims of sexual harassment. If we want to solve this problem, we need the full conversation from all segments of society and all genders.”

 

 

The Vice Chancellor of Bowen University, Prof. Joshua Ogunwole, said many rape cases were unconnected with substance abuse.

He said sexual harassment and substance abuse needed to be tackled squarely, adding that this would help the larger society.

The Deputy Commissioner (Legal), Independent Corrupt Practices and Other Related Offences Commission, Mr Adenekan Shogunle, identified concentration of power, especially in the hands of few individuals, as one of the factors responsible for cases of sexual harassment.

Shogunle said sexual harassment was not peculiar to educational institutions alone, adding that there were reports of such cases in the civil service, law enforcement agencies and judicial work force.

The immediately past Vice Chancellor, Federal University, Oye Ekiti, Prof. Kayode Soremekun, said if the issue of mal-governance was not addressed, there was little that could be achieved in curbing sexual harassment.

FG begins process for concession of 12 highways

The Federal Government on Tuesday issued a notice for the commencement of the procurement process for the 12 federal highways mapped for concession under the Highway Development Management Initiative.

 

 

 

Minister of Works and Housing, Babatunde Fashola, issued the notice in Abuja and unveiled the portal that was developed to ensure that the procurement process was seamless.

 

 

The 12 highways so far mapped out for concession by the Federal Government have a combined length of about 1,963km and represents less than 5.6 per cent of Nigeria’s 35,000km federal highway network.

 

 

The 12 routes for concession under the pilot phase include Benin-Asaba, Abuja-Lokoja, Kano-Katsina, Onitsha-Owerri, Shagamu-Benin and Abuja-Keffi-Akwanga.

Others include Kano-Shuari and Potiskum-Damaturu, Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Ota-Abeokuta, and Lagos-Badagry-Seme border.

Fashola said, “These 12 roads were carefully chosen to ensure that each of the six geopolitical zones are covered.

“The initial capital investments that we foresee is something in the order of N1.13tn and the employment potentials are an estimated 50,000+ direct jobs and 200,000+ indirect jobs.”

On the procurement portal, the minister said it was developed to ensure competitiveness and guarantee transparency, adding that it would serve as the interface with the public and manage the HDMI from procurement to implementation.

He explained that the portal would give access to relevant documents, news updates, videos, ensure the management of the public private partnership procurement process and the process of approvals and permits, among others.

“Therefore, to those writing letters of inquiry, making offers of interest on the HDMI, offering to provide services like tolling, weigh bridge, rest houses, etc, we are sorry we cannot respond to those letters in order to maintain the integrity of this process and to keep the playing field level,” Fashola stated.

He further noted that currently, the government was executing over 700 different contracts for the rehabilitation and reconstruction of over 13,000km of roads and bridges across all the 36 states including the Federal Capital Territory.

He said the HDMI was an effort by government to mobilise private capacity, resources and entrepreneurship into the Nigerian highway sector.

Traditionalists Warns Kwara Govt, House of Rep over Hijab

The global head of Ifa priests, otherwise called the Araba Agbaye, Chief Owolabi Aworeni, on Tuesday cautioned the Kwara State Governor, Abdualrahman Abdulrazaq, against actions that might incite violence in the state.

 

 

Also, Aworeni urged the House of Representatives to halt a bill which sought to institutionalise the use of hijab in the country.

 

 

The issue of hijab has spurred heated reactions in Kwara State with Christian mission schools shut down in resistance against the move by the state government to enforce the use of hijab by Muslim students in the schools.

 

 

However, the Araba, represented by his deputy, the Araba Oluisese of Ibadan, Ifalere Odegbola, in an interview with journalists in Ibadan, Oyo State, on Tuesday, said, “We are appealing to the Governor of Kwara State to caution against steps that are capable of turning Kwara State and the entire country into crises.

“Peace will reign supreme if religions generally are given pride of place. Let the Christian schools be, same for Muslim schools and schools for the traditional worshippers, without any religion lording it over the other.

“A traditional worshipper who decides to attend Christian school should imbibe the Christian practices and principles and ditto for a Christian child who chooses to attend a Muslim school. If he decides to attend the school, he has to abide by the practices.

“It is wrong for a child who belongs to another faith to want to force his way through. The governor should desist from acts that can incite violence or civil disorderliness. Academics should not continue to get interrupted as we have it at the moment.

“In the same vein, we are appealing to the National Assembly to drop the issue of use of hijab; we are warning that religious intolerance should not be allowed to polarise us as a people. Nigeria as a secular nation should be receptive to all religions and people should be free to practice their own faith without any interference.”

NDLEA intercepts parcels of cocaine, heroin going to UK, Ireland, Australia

The National Drug Law Enforcement Agency, NDLEA, has intercepted well-concealed and unaccompanied parcels of cocaine, heroin, methamphetamine and cannabis sativa being shipped to the United Kingdom, Northern Ireland, Australia, Maldives and New Zealand.

A statement signed by the agency’s Director, Media & Advocacy, Femi Babafemi and made available to NAOSRE stated that a notorious trafficker, Sikiru Owolabi, who is behind at least two of the parcels has been traced and arrested after days of thorough and systematic surveillance by NDLEA operatives. Undercover narcotic agents attached to two international courier companies in Lagos made the seizures.

Sikiru Owolabi, who has made useful confessions during interrogations, was tracked after 1kilogramme of cocaine concealed in cream containers and meant for Dublin in Northern Ireland was intercepted at one of the courier firms in Lagos. This was also followed by the discovery of another 200grammes of cocaine meant for London, United Kingdom in the same courier company.

In another undercover operation, 320grammes of heroin concealed in earrings coming from Congo and going to Australia was seized at a different courier firm in Lagos, just as another 390 grammes of cocaine hidden in men’s clothing and going to Northern Ireland was intercepted in the same company.

While 500grammes of cannabis sativa concealed in automobile parts going to New Zealand was seized at one of the courier companies, 200 grammes of methamphetamine hidden inside an award plaque and going to New Zealand, with another 200 grammes of methamphetamine concealed in a book and going to Maldives, were equally intercepted in another firm.

Beside the arrest of Owolabi, efforts are ongoing to track and arrest other traffickers behind the other unaccompanied illicit drugs packaged as parcels for shipment to Europe.

Chairman-Chief Executive of the NDLEA, Brig. General Mohamed Buba Marwa (Retd) has commended the men and officers involved in the operations to frustrate attempts by drug barons and traffickers to ship illicit drugs overseas through unaccompanied parcels. “I ask all our men and officers involved in the various overt and covert operations across the country to continue with the ongoing offensive action until we chase the criminal elements out of their illicit and damaging trade”, General Marwa admonished.

Heritage Bank joins in World Water Day with installation of borehole

Heritage Bank Plc has joined the rest of the globe to celebrate the World Water Day 2021 with plans to assist a community in dire need of clean water by installing a bore hole.

The theme for this year’s WWD 2021 is “Valuing Water,” which focuses on the importance of freshwater and presses for sustainable management of water resources. According to the United Nations, the day is aimed at raising awareness about 2.2 billion people living without access to safe water resources globally.

“The value of water is about much more than its price.” This day is celebrated keeping in line with Sustainable Development Goal number 6 which is aimed at achieving water and sanitation by all for 2030,” UN stated.

It further explained that global water demand is likely to rise by over 50 per cent by 2040.

To this effect, as part of efforts to implement the Central Bank of Nigeria’s (CBN) sustainable banking principle, Heritage Bank Plc has instituted a Corporate Social Responsibility’s (CSR) campaign project to assist a community in dire need of clean water by installing a bore hole.

This campaign project, according to the bank will be executed in two phases; the first involves nominations call for community that is in dire need of water will be put on its social platforms from 22nd March 2021, which will run for 30days.

The bank in a statement signed by the Divisional Head, Corporate Communications, Fela Ibidapo, disclosed that thorough research will be conducted on communities that put up for nominations and the most in need will be chosen.

In furtherance, the community leaders would be engaged, which will herald commencement of the project and handing over the borehole to the community.

Speaking on WWD 2021, the MD/CEO of the Bank, Ifie Sekibo said the adoption of the campaign project shows how Heritage Bank values water and making clean water accessible to the under-privilege, living in urban slums and rural areas.

According to him, to access safe water resources globally, higher value must be given to protecting the ecosystem in ensuring good quality water supply.

Sekibo, who further canvassed for the implementation of Sustainable Banking Principle, tasked stakeholders to continually promote the need for more productive value of water, which would bring about developmental impact to society, while protecting the communities and environment in which financial institutions and their clients operate.

Nigerian Made COVID-19 Vaccine Undergoing Clinical Trial – PT

The  Federal Government on Monday said Nigerian scientists have produced two local COVID – 19 vaccines and were awaiting clinical trials and certification.

The government also raised the alarm over reported racketeering of the Oxford-AstraZeneca vaccines in some vaccination centres.

The Secretary to the Government of the Federation and Chairman Presidential Task Force on COVID – 19, Boss Mustapha and Minister of Health, Dr Osagie Ehanire, said these during the press briefing Presidential Task Force on COVID – 19 in Abuja.

The SGF said, “The disclosure that Nigerian Scientists have produced at least two local COVID – 19 vaccines which are awaiting clinical trials and certification is significant. I call on all relevant agencies to provide the required support and an enabling environment for smooth conduct of the remaining protocols for the certification of these vaccines with a view to encouraging and motivating other researchers.”

The PTF chairman recalled that one year ago on March 21 2020, a total lockdown was declared by the government in some parts of the country due to coronavirus pandemic that hit the nation.

He said, “In the past one year, the socio-economic impact on us cannot be underestimated. Many people lost their livelihood and many people lost loved ones.”

The SGF also said that on Sunday, Nigeria recorded the lowest number of cases so far this year.

He said, “We have also seen a decline in cases in the high burden countries around the African region. This does not call for us to lower our guards as the virus is still potent and virulent. This is the right time to adhere to the full compliance of the NPIs and be vaccinated.”

The SGF said on Sunday, March 21 2021, the PTF received 300,000 doses of the Oxford-AstraZeneca vaccines from MTN Nigeria.

He commended the organisation and urged other partners to contribute towards the fight against COVID-19.

The PTF boss added that in the past few weeks there were discussions on the KLM and Emirates Airlines services in Nigeria.

He said, “Today, I will like to inform you that KLM has commenced full operations in and out of Nigeria since 15 March, 2021 while operations of the Emirates in and out of the country has been suspended with exemption of Cargo and Humanitarian flights.”

FIRSTBANK CEO LISTS TECHNOLOGY, CAPACITY AS KEY FOR POST COVID-19 GROWTH By Bolaji Israel

…Thumbs up mobile banking (FirstMobile) and USSD (*894#) platforms

Dr Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited said technology, innovation and enhanced capabilities have become necessary to achieve significant business growth in the post-COVID-19.

Adeduntan made this remark on Thursday during a Digital Disruption Series webinar organised by the Surrey Business School of the University of Surrey, England.

The webinar was themed: “Digital Disruption: How Can Companies Thrive in Africa Post-COVID-19.”

According to the FirstBank boss, it is about studying the environment and leveraging the digital space to proffer solutions tailored to suit emerging challenges

Adeduntan cited FirstMobile, the Bank’s mobile banking and *894# USSD platforms as some of the digital disruptions that had impacted positively on the financial institution, the banking industry and the financial ecosystem as a whole.

“We have the largest bank agents – close to 90,000 – of them spread across the country, helping to bring in people that were financially excluded into the financial system,” he said.

On barriers to growth in creating innovative and indigenous knowledge, the CEO cited capital constraint, social infrastructure and cultural approach as some of the limiting factors encountered by businesses in Africa.

“In Nigeria, to solve the capital constraint, the Central Bank of Nigeria and the Banker’s Committee contribute certain percentage of our profit to a pool of fund to serve as equity for entrepreneurs,” he said.

According to the FirstBank CEO, absence of social infrastructure in African countries has denied citizens the ability to lead better and quality life, thus leading to the migration of many young and brilliant minds from the continent.

He said the bank evolved a deliberate approach in its employment, remuneration, exciting work roles and talent development to inspire and retain its young workforce.

Dr. Adeduntan added that there were significant opportunities in Africa, with over one billion population, while noting that opportunities were available for young and innovative people willing to work smart and hard.

The FirstBank boss noted that the bank had been in existence for 127 years, and had been strategically positioned for exponential growth through its ability to leverage innovation to reinvent itself.

Also speaking at the event, Prof. Kenneth Amaeshi, Thought Leader, University of Edinburgh, Scotland, said COVID-19 had unravelled the need to realign Africa’s institutions, and convert challenges to opportunities.

Amaeshi said African governments should evolve more favourable policies and incentives that would encourage renewed innovation, increase investment in education, research and development and intellectual property protection.

“As much as we want to celebrate technology development in Africa, we need Africans to participate and contribute to the knowledge going on in the digital space,” he said.

FRSC’S SWIFT RESPONSE TO DISTRESS CALL, RESCUES PASSENGERS FROM A DRUNK DRIVER

 

frscThe Ogun State Sector Command of the Federal Road Safety Corps has in a quick response to a distress call, rescued passengers by arresting a drunk driver who was spotted driving so recklessly in such a manner that could lead to road traffic crashes.

According to Bisi Kazeem, the Corps Public Education Officer, the drunk driver was arrested in Kyakyama, Ogere, Ogun State at about 1335HRS when the Sector Commander received a distress call from a passenger who noticed the dangerous way the driver of the vehicle she boarded was driving.

The passenger, one Mrs Matina reported that few minutes into their journey, they noticed that the driver was driving under the influence of alcohol which prompted the passengers to caution him against his recklessness. She revealed that it was when the driver refused to hid to the warning from all the passengers that the passengers got the FRSC call line from the internet and hurriedly put the call through to the FRSC for rescue.

Kazeem stated that upon receiving the call, the Sector Commander ordered a patrol team from RS2.24 Ogere Unit Command immediately to effect the arrest of the driver and ensure the impoundment of the vehicle, whuch was reported to be a white colour Toyota Hiace bus with the following registration details FKJ 991 YA.

Upon arrest and impoundment of the vehicle, the driver was subjected to BAC test and the result was 0.18%, which is extremely higher than the 0.05% permissible by road traffic regulations.

The Corps Marshal, Federal Road Safety Corps, Dr Boboye Oyeyemi while thanking the passengers, expressed joy over the bravery. He noted that the conduct did not only prove that they were observant enough to discover the recklessness of the driver, but also proves that that Nigerians are also courageous to report dangerous road use behaviour.

He therefore called on the motoring public to emulate the actions of the passengers, emphasising that road safety is a collective responsibility and every body’s business. As such all road users must play their role to ensure their own safety and that of other road users.

He also said that the FRSC toll free numbers 122 is always available 24/7 for emergency and prompt rescue services.

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