Review
Ahmadu Bello University announces date for resumption
The management of the Ahmadu Bello University, Zaria, in Kaduna State, has fixed Monday, January 25th, 2021 as the date for the reopening of the institution for academic activities. However, the Director of Public Affairs of the ABU, Mallam Auwal Umar, said in a statement that the resumption date was subject to review by the Federal Government. The statement titled, ‘Ahmadu Bello University fixes January 25 for reopening,’ said the resumption date was approved by the Senate of the University at its 501st (Special) Meeting on Tuesday The statement read, “The 2019/2020 academic session would be completed based on the adjusted calendar as approved by the Senate. “The decision to reopen the University followed the suspension of ASUU strike, and the directive by National Universities Commission...
2021: Banks to walk a tightrope amid low revenue environment
Nigeria’s deposit money banks (DMBs) must brace up for the challenge of 2021 that might tax their resolve to remain in business. Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles. Their valuable customers such as high net-worth individuals, corporate bodies and other institutions are equally challenged. In his book, Business Stripped Bare, celebrated iconic entrepreneur and founder of the Virgin Group, Richard Branson, says, “without trustworthy banks, there can be no business, no employment, no money. According to Branson, “People have got to be able to go to bed at night secure in the knowledge that the money they depo...
PDP sets agenda for Lagos governor in 2021
The Lagos State Chapter of Peoples Democratic Party has advised Gov. Babajide Sanwo-Olu to strive hard to provide satisfactory dividends of democracy to residents of the state in 2021. The state PDP Publicity Secretary, Taofik Gani, said this in an interview with the News Agency of Nigeria in Lagos, while assessing Sanwo-Olu’s performance in 2020. “As a constructive opposition party, the year 2020 was not satisfactory in terms of dividends of democracy to Lagos residents. “Most of the local council chairmen performed below average, Sanwo-Olu should look into that because the chairmen are putting too much pain on the people due to their abdication of duties. “We are indeed very anxious to take over government as an opposition party in Lagos,” Gani said. According to him, the party shared wi...
Yemisi Edun appointed acting FCMB chief
First City Monument Bank Limited (FCMB) has appointed Yemisi Edun as the acting Chief Executive Officer of the bank. This followed the decision by the Chief Executive Officer, Mr. Adam Nuru, to proceed on voluntary leave as the board investigates allegation of paternity scandal against him. The bank disclosed this on Wednesday. Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom. She is a Fellow of the Institute of Chartered Accountants of Nigeria and a CFA Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Cont...
National park trains 1,200 officers on combat readiness
Dr. Ibrahim Goni, the Conservator-General of the National Park Service, says the agency has trained 1,200 officers on basic combat readiness paramilitary by the Nigeria Army. Goni, who disclosed this at a news conference on Tuesday in Abuja, said that the training was to help the officers and men to meet the current and future conservation requirements. “Training and re-training of officers is key to achieving success in the implementation of the service mandate. “Therefore, manpower development as a human capital function is responsible for developing the skills, knowledge and competence of the service,” he said. Goni said that the agency would focus more on manpower development to help the officers and men achieve the mandate of the service. He said that in spite of its limited resources...
CBN: Naira to fall further in January
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...
FIFA accusations against Sepp Blatter baseless – lawyer
Former FIFA president Sepp Blatter vehemently denies an allegation against him of criminal mismanagement relating to a museum project set up under his leadership, his lawyer said on Tuesday. “The accusations are baseless and are vehemently repudiated,” Lorenz Erni said in statement. Mr Blatter, 84, has continued to deny any allegation of financial impropriety against him by the world football association. Recall that according to documents reportedly seen by the PA news agency, FIFA had stated that, “Following a detailed review of historic facts and circumstances concerning the construction and on-going operational costs of the FIFA Museum, FIFA has become aware of many serious irregularities regarding this project, which raise strong suspicions of criminal misconduct on the part of variou...
ISL Matchday 7 Review: Vignesh’s Wonder-Volley, Creative Crivellaro & Much More
Five exciting matches marked the seventh matchday of the Indian Super League, which featured some fantastic action, including Vignesh Dakshinamurthy-s wonder-goal, Rafael Crivellaro’s creative brilliance and lots more. Here’s all the roundup from the ISL’s matchday 7: Results Odisha FC 1-2 Bengaluru FC (Taylor 71′; Chhetri 38′, Cleiton 79′) NorthEast United 0-1 Jamshedpur FC (Aniket 53′) FC Goa 1-2 Chennaiyin FC (Ortiz 9′; Crivellaro 5′, Rahim 53′) Hyderabad FC 0-2 Mumbai City (Vignesh 38′, le Fondre 59′) Kerala Blasters 1-1 SC East Bengal (Thounaojam 90+4′; Koné (OG) 13′) Team of the Week GK: Albino Gomes (KBFC) – 8.5 *Player of the Week* Albino Gomes might be inconsistent, but when he is on it, he is really on it. He kept his side in the game against East Bengal by making 7 huge saves an...
Air passengers decry upsurge in fares, seek urgent attention to roads, railway
Nigerians, who travel by air, have decried the “sudden” upsurge in air fares and urged the Federal Government to intervene to avoid poor patronage that could dwindle the fortunes of the aviation industry. Newsmen report that the air fares shot up by about 100 per cent in the last one week, with some airline operators even raising their fares by as much as 120 per cent or more. At Nnamdi Azikiwe International Airport, Abuja, the fare from Abuja to Lagos, which was N35,300 (Economy Class), rose to between N70,000 and N75,000. Newsmen found that Business Class travellers were charged between N100,000 and N120,000, depending on the airline. Our correspondents, who visited other airports across the country, found that the rise in airfares was the same, a situation that forced some passengers to...
NBS: N319.99 trillion e-payments recorded in Q3 2020
A total volume of 2,781,526,188 transactions valued at N319.99trn was recorded in the third quarter of this year based on data on electronic payment channels in the Nigeria banking sector, the Nigerian Bureau of Statistics has said. It disclosed this in its latest Selected Banking Sector Data which focused on sectorial breakdown of credit, e-payment channels and staff strength of Deposit Money Banks. The bureau said Real Time Gross Settlement transfers dominated the volume of transactions recorded. RTGS systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to any other bank on a real-time and on a gross basis. The NBS said 1,799,199 volume of online transfer transactions valued at N116.06trn were recorded in Q3 2020. In terms of c...
Minister: Industry, trade, investment key to economic diversification
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, says the sector is crucial in the drive toward diversification of the nation’s economy, away from being oil dominated. Adebayo spoke in Abuja at the Physical/Virtual 12th National Council on Industry, Trade and Investment meeting, with the theme “Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post-COVID-19 pandemic era”. He explained the pivotal role of the ministry as a key actor in the economy with the mandate to stimulate domestic investment and attract foreign direct investment into all sectors. The minister said it was committed in facilitating trade in goods and services and maximising benefits of international trade through functional bilateral and multilateral trade relations. Acc...
Nigerian National Assembly spends billions of naira on constitution review
The perennial constitution amendment exercise by the National Assembly is characterised by proposals that keep resurfacing despite gulping billions of naira yearly, an analysis has shown. The federal parliament had from the 5th to the current 9th National Assembly made several attempts to amend some provisions of the 1999 Constitution to no avail. At every session, the parliament officially spends N1 billion shared equally between the Senate and the House of Representatives. There are reports that the lawmakers spend more than what is appropriated for the exercise. While some amendments were successful, several others suffered serial failures but kept appearing in new proposals. Considering the huge spending, lawyers and civil society groups have pointed out that no significant amendments ...