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  • Your bank deposits are safe, CBN reassures Nigerians

    Your bank deposits are safe, CBN reassures Nigerians

     

    CBN Governor,  Yemi Cardoso

    Deposits

    By Kadiri Abdulrahman

    Abuja, June 10, 2024 (NAN) The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience.

    The apex bank’s Acting Director of  Corporate Communications Department, Mrs Hakama Sidi-Ali, gave the assurance in a statement on  Monday in Abuja.

    Sidi-Ali’s statement was a response to concern in some quarters about the stability of some Nigerian banks in the wake of Heritage Bank Plc’s license revocation,

    She faulted claims that the CBN was considering revoking the operating licences of Fidelity, Polaris, Wema, and Unity Banks.

    She also clarified that a circular issued by the Bank on January 10, 2024, notifying the public about the dissolution of the Boards of Union, Keystone, and Polaris Banks, was currently being circulated as though it was freshly issued.

    According to the director, Heritage Bank’s case was isolated

    “Allegations of further revocation of licences prior to the completion of CBN’s recapitalisation exercise are mere fabrications aimed at creating panic within the system,” she said.

    She said that bank customers, particularly those of Heritage Bank, needed not worry about the safety of their deposits, adding that the Nigeria Deposit Insurance Corporation (NDIC) had commenced payment to the bank’s insured depositors.

    She urged members of the public to continue their regular banking activities without fear, dismissing any false reports regarding the health of specific Deposit Money Banks.

    “The CBN, with its robust regulatory framework, is proactively ensuring the stability of Nigeria’s financial system, thereby guaranteeing the safety of depositors’ funds in all Nigerian financial institutions,” she said.

    Sidi-Ali reiterated the assurances of the CBN Governor, Olayemi Cardoso, that the recapitalisation of banks in Nigeria was intended to bolster the banking system and safeguard the sector against risks.

    She urged all stakeholders to cooperate in ensuring the success of the process, which she said would be for the overall growth of the Nigerian economy.

    “Without prejudice to the ongoing recapitalisation process, I want to restate that the Nigerian banking industry remains resilient. Key financial soundness indicators remain within current regulatory thresholds.

    “Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she said.(NAN)(www.nannews.ng)

    KAE/MNA

    Edited by Maureen Atuonwu
    ======

     

  • Tinubu committed to youth empowerment, says Shettima

    Tinubu committed to youth empowerment, says Shettima

    Empowerment

    By Salif Atojoko

    Abuja, June 10, 2024 (NAN) The Vice President, Sen. Kashim Shettima, has restated the commitment of the Bola Tinubu administration to supporting Nigerian youths to reach their potential and contribute to the growth and development of the country.

    Shettima’s remark was contained in a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice President.

    He said Shettima made the remark when he received the National Executive Council of the National Youth Council of Nigeria (NYCN), led by its President, Mr Sukubo Sara-Igbe Sukubo, on a courtesy visit to the Presidential Villa.

    Commending the council for its support of the programmes and activities of the Tinubu administration, Shettima said, “We cannot thank you enough for keeping the hope alive for the Nigerian youth.

    “We identify with you; we empathise with you because the future of this nation belongs to you. We are one of the youngest nations on the planet and the youth constitute nearly 75 per cent of our population.

    “Once we engage the youth, once we give them hope for a better tomorrow, all the madness pervading this land will dissipate.

    “Sixty years for an organisation to remain vibrant and still stand on its feet deserves commendation. I want to thank you for believing in the Nigeria Project.

    “A lot of members of your generation have left the country but you resolved to stay on, and together we are going to salvage the ship of this state,” he added.

    On plans of the Tinubu administration for young Nigerians, the Vice President noted that President Tinubu created a ministry for the youth under the current dispensation.

    He added that the President also appointed two young people to head the ministry, while the Vice President had complemented that by appointing a lot of young persons into key positions in his office.

    Assuring the NYCN delegation that the administration is aligned with their aspirations, Shettima said, “We hold you in the highest esteem.

    “We have a series of opportunities lined up for you such as the iDICE project that will create digital jobs, including the ones in the creative industry.

    “So, let’s hope for the best, let’s believe in Nigeria because this is our country.”

    Earlier, Sukubo had expressed the council’s readiness to collaborate with the federal government in addressing illegal oil bunkering.

    “We have decided to see how we can help this country in areas of oil theft that have been ravaging this nation,” Sukubo stated.

    He added that, “the NYCN has decided that it’s a collective effort, and we are ready to partner with the government to address this illegality.”

    Sukubo announced that the NYCN, which was established on Aug. 28, 1964, in Lagos, was gearing up to commemorate its 60th anniversary in November.

    On behalf of the council, he extended an invitation to the Vice President to officially unveil the anniversary events 8expected to draw participants from across the country.

    “This year, we are celebrating our 60th anniversary, and we want you to officially unveil the anniversary events.

    “The event will have nothing less than 100,000 participants across the country, and that is the day we want to give insight into the activities of this government,” Sukubo said.

    Acknowledging the administration’s efforts in appointing a significant number of young people to government positions, the NYCN delegation also appealed to the federal government to construct a Youth House.

    Also speaking, Rikki Nwajiofor, the National Deputy Secretary General of the NYCN, highlighted the council’s role as the apex youth body representing all youth organisations in Nigeria as stipulated in the National Youth Policy.

    “NYCN is made up of 104 affiliate member youth organisations, a 27-member national executive council, 36 state chapters and an FCT chapter, as well as 774 coordinators in all local government and area councils in Nigeria.

    “That is why the NYCN is the vehicle through which the government passes its policies to the grassroots,” Nwajiofor explained. (NAN) (www.nannews.ng)

    SA/ETS 

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  • NSCDC, Tantita arrest 5 suspects with 250,000 litres of adulterated fuel in Ondo

    NSCDC, Tantita arrest 5 suspects with 250,000 litres of adulterated fuel in Ondo

    Arrest
    By Muftau Ogunyemi
    Akure, June 10, 2024 (NAN) The Nigerian Security and Civil Defence Corps (NSCDC) and Tantita Security Services Nigeria Limited, a private security company, have arrested five suspects dealing in adulterated petroleum products in Ondo State.

    Mr Oluyemi Ibiloye, the Ondo State Commandant of the NSCDC, made this known in a statement signed by the command’s spokesperson, DSC Aidamenbor Daniel on Monday in Akure.

    Ibiloye said that the suspects – Orofin Olorunjuwon, Enigbewo Sunday, Ayeyiwa Ilumaro, Owoyemi Ete and Okorisa Noah, were arrested on Sunday at the Igbokoda waterways in Ilaje Local Government Area of the state.

    According to him, the suspects were arrested with two large wooden boats filled with about 250,000 litres of adulterated petroleum products, three outboard boat engines and two pumping machines.

    “Meanwhile, the joint task force set the illegally acquired petroleum product ablaze on the high sea while the suspects and other exhibit are in custody for prosecution.

    “So, we have assured that the joint operation and routine patrol of the waterways will be a continuous exercise to rid state of economic saboteurs.

    “Also, the arrested suspects will be prosecuted according to our extant laws to serve as deterrent to other criminal elements,” Ibiloye said. (NAN) (www.nannews.ng)
    OMA/AYO/IKU
    Edited by Ayodeji Alabi/Tayo Ikujuni

  • Maternal Health: WHO, Borno Govt. equipt 488 intervention sites

    Maternal Health: WHO, Borno Govt. equipt 488 intervention sites

    Health
    By Yakubu Uba
    Maiduguri, June 10, 2024 (NAN) The Borno Government says it has set up 488 sites across the state for health services in the first round of the 2024 Maternal, Newborn and Child Health Week (MMCHW).

    The News Agency of Nigeria (NAN) reports that the project was being handled in collaboration with the World Health Organisation (WHO).

    The Executive Secretary, Borno Primary Health Care Development Agency (SPHCDA), Prof. Mohammed Arab, launched the week at a ceremony in Mala Kachallah Primary Healthcare Centre in Maiduguri on Monday.

    In a speech at the event, Arab said that the sites were located in all the 27 Local Government Areas of the state.

    He said that the essence of the health week was to accelerate the delivery of a minimum package of high-impact interventions that would contribute to the reduction of maternal, neonatal and child mortality.

    The SPHCDA boss also said that efforts were being intensified “to strengthen routine healthcare delivery.

    “It’s a bi-annual campaign that takes place in the 1st 6 months (Round 1) and the 2nd 6 months (Round 2) of the year respectively.

    “This year’s Round 1 activity will run consecutively for five days from 10th to 14th June,” he said.

    According to him, services to be provided include antenatal care, deworming, HIV testing and counseling, vitamin A supplement, health promotion, immunisation and birth registration.

    “There is also distribution of Sulphadoxine-pyrimethamine and long-lasting insecticide net and iron folate for pregnant women,” Arab said.

    He said that nutrition screening, which is also part of the services, would help in identifying and addressing severe malnutrition in children at an early stage.

    “Undernutrition is a significant contributor to child mortality, linked to over 60 per cent of diarrhea deaths, 57 per cent of malaria deaths and 52 per cent of pneumonia deaths”.

    In a remark, the Commissioner of Health, Prof. Baba Mallam, said that the MNCHW was not a substitute for the regular health activities but a measure to complement and intensify ongoing efforts to provide high-quality healthcare services.

    “These interventions are designed to significantly increase the coverage of preventive and curative services, thus ensuring that we meet the needs of mothers and children effectively and efficiently.

    “This initiative offers a unique opportunity for women and children to access crucial health services free of charge at their nearest health facility.

    “The importance of this week cannot be quantified.

    “It represents a concentrated effort to deliver interventions that can save lives and improve health outcomes,” Mallam said.

    Speaking on behalf of WHO and other partners, the organisation’s Public Health Officer, Maiduguri Office, Dr Aisha Kadai, urged all stakeholders to take the week as an opportunity to increase coverage and update services across Borno.

    Kadai said that WHO had mobilised human resources to support the outreach in hard to reach areas as well as medical and pharmaceutical supplies to fill in the gaps in commodities required for the first round exercise.

    “WHO is working with Borno SPHCDA in prioritisation of maternal, newborn and child health.

    “These activities are instrumental to achieving the state 25 years Development Framework, the 10 years Strategic Transformation Plan as well as the SDGs,” Kadai said. (NAN)

    YMU/USO
    Edited by Sam Oditah

  • 2026 WC qualifiers: Sports minister summons NFF over S’Eagles poor results 

    2026 WC qualifiers: Sports minister summons NFF over S’Eagles poor results
    Summon
    By Muhyideen Jimoh
    Abuja, June 10, 2024 (NAN) The Minister of Sports Development, Sen. John Owan Enoh, has demanded a detailed technical report from the Nigeria Football Federation (NFF) on the Super Eagles’ disappointing results in the 2026 World Cup qualifiers.
    This is contained in a statement by Diana-Mary Nsan, the Special Assistant to the minister on Media.
    The  Eagles managed to secure only one point from a possible six, following a 1-1 draw with South Africa in Uyo and losing 2-1 to Benin Republic in Abidjan in its third and fourth game  in the 2026 FIFA World Cup qualifying series.
    These results leave the Super Eagles with just three points from a possible 12.
    The minister expressed dissatisfaction with the results, especially considering the support the NFF had received from the Federal Government.
    “The recent results are unacceptable, in spite the immense support from President Tinubu and the high expectations of Nigerian football fans, the Super Eagles have underperformed.
    “The NFF must provide a comprehensive technical report explaining the reasons behind this poor showing, and give cause why there mustn’t be consequences for the disappointment,” he said.
    Enoh emphasised that Nigerian football fans demand and deserve answers and accountability from the NFF.
     “Our supporters are passionate and devoted. They deserve an explanation for why our national team has not been performing to the expected standards since after the last AFCON,” he said (NAN)(www.nannews.ng)
    MUYI/JPE
    ========
    Edited by Joseph Edeh

  • Electronic case system crucial to efficient justice delivery — Official

     

    3rd from right, Justice Edward Asante, CCJ President, with participants at the ECMS sensitization and training program in Lomé, Togo, on Monday.


    Adoption

    By Mark Longyen

    Abuja, June 10, 2024(NAN) The President of the ECOWAS Court of Justice (CCJ), Justice Edward Asante, says the adoption of electronic case management system (ECMS) by the court is crucial to efficient contemporary justice delivery.

    Justice Asante stated this at the unveiling of the ECMS sensitization and training programme on Monday in Lomé, Togo, the court stated.

    Asante explained that the  programme was for lawyers from member states, stressing that it marked a crucial step in improving access to justice and efficiency of judicial procedures within the ECOWAS region.

    “The main objective of this programme is the sensitisation and training of lawyers and government agents from ECOWAS member states on the use of the new electronic filing and case management system.

    “The adoption of the ECMS marks a crucial step in improving access to justice and efficiency of judicial procedures within the ECOWAS region,” the CCJ President said.

    Asante disclosed that the Court accelerated its transition towards digitalisation of judicial procedures by adopting practical guidelines for ECMS and virtual hearings following the challenges posed by the COVID-19 pandemic.

    “The notable innovations include electronic filing of documents, electronic service of notices of registration and the holding of virtual hearings, which all represent a significant advancement in the court’s modernisation of judicial processes.

    “Furthermore, it aims to make the court more accessible and efficient by allowing lawyers to file documents, receive notifications, and attend virtual hearings via a secure web interface,” he added.

    Asante said the initiatives aimed to equip legal practitioners with the necessary knowledge to use the ECMS effectively.

    He stressed that the court had played a central role in interpreting and applying Community legal texts and protecting human rights since 2005.

    The CCJ president said the Lomé programme was the first in a series of sensitisation and training programs, with two others slated for Accra, Ghana (for anglophone lawyers), and Praia, Cape Verde (for lusophone lawyers).

    He, therefore, encouraged all the participants to seize the opportunity of the training and fully engage in it.

    The News Agency of Nigeria (NAN) reports that CCJ is ECOWAS’ judicial organ, mandated to resolve disputes related to its treaties, protocols and conventions, and also entertain individual human rights violations complaints.

    It was established under the Lagos Treaty of 1975 and became operational in 2001.(NAN)(www.nannews.ng)

    YEN/BRM

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    Edited by Bashir Rabe Mani

  • Sokoto: NCS auctions 11,270 L of petrol, intercepts railway tracks

  • Minimum Wage: Nigeria’s interest should supercede others – cleric

    Minimum Wage: Nigeria’s interest should supercede others – cleric

    Wage

    By Uchenna Eletuo

    Lagos, June 10, 2024 (NAN) The Chief Imam of Falomo Central Mosque, Lagos State, Dr Tajudeen Adebayo, says Nigeria’s interest should supercede other interests in arriving at a new minimum wage.

     

    Adebayo spoke with the News Agency of Nigeria (NAN) on Monday in Lagos.

     

    He spoke against the backdrop of ongoing  negotiations by the Tripartite Committee on the National Minimum Wage.

     

    The cleric said that consideration of the interest of the nation should be the guide for  the committee to arrive at a sustainable and acceptable minimum wage.

     

    “Looking at the minimum wage issue from the perspective of Islam, I would like to situate the matter under the law of contract.

     

    ” Interactions between  employers and  employees should be governed by fairness and transparency on both sides.

     

    “The employer should spell out the duties of the employee and agree with him on what will be his remuneration, which should be commensurate with job done and the economic reality of the time.

     

    “The employer should provide the employee with the required tools of trade and create an enabling environment for his success,” he said.

     

    The cleric added  that there should be a yardstick to measure the employee’s performance.

    “The employee deserves a decent and fair remuneration.

    “He should be made to know his wage before embarking on the job, and it should not be delayed unduly.

    “The employee must also carry out his duty diligently without compromise.

    “In view of these, both sides need to look inwards to see how their stands can be of mutual benefits,” he said.

     

    The cleric also said that the position of the parties should be of benefit to the country as a whole.

    The cleric appealed to the Federal Government to be considerate in its offer,  adding that the organised labour should be realistic in its demand to ensure sustainability. (NAN) www.nannews.ng

    EUC/BEKl/IGO

    ============

    Edited by AbdulFatai Beki/Ijeoma Popoola

  • Unity Bank projects N5.2bn profit in Q3

    Profit
    Lagos, June 10, 2024 (NAN) Retail lender, Unity Bank Plc, has projected a profit after tax of N5.2 billion in third quarter of the year.
    This was contained in its earning forecast released to the Nigerian Exchange Ltd. (NGX) on Monday.
    The lender projected a pre-tax profit of N5.7 billion while targeting a turnover of N26.93 billion in gross earnings during the quarter.
    This indicates 8.2 per cent increase from the second quarter of 2024 projection of N24.89 billion.
    The earnings forecast also showed that the bank expects to record its interest income at N23 billion, with net revenue anticipated to hit N6.58 billion for the period.
    Unity Bank’s operating income is expected to rise to N13.38 billion, while cash flow from financing activities is projected to rise to N353.6 billion for the projected quarter.
    Meanwhile, the bank’s improved projected cash from financing activities and the expected increase in cash and cash equivalents highlight the lender’s strong liquidity position, which is critical for sustaining current and future business operations.
    The bank stated that it expected to achieve the result and surpass the projection, barring any unforeseen significant changes in the operating macroeconomic environment under which assumptions underlying the forecast were made.(NAN)(www.nannews.ng)
    RUKY/AWA
    ==========
    Edited by Olawunmi Ashafa

  • Hunters’ service promotes 2 deserving officers

     

    Promotion

    By Sumaila Ogbaje

    Abuja, June 10, 2024 (NAN) The Nigerian Hunters and Forest Security Service (NHFSS) has approved the promotion of two officers who distinguished themselves through their commitment, diligence and patriotism.

    The Commander-General, Dr Joshua Osatimehin, announced this at the end of a four-day intensive leadership training workshop, organised by the management of the Service in collaboration with the Nigerian Security and Civil Defence Corps (NSCDC), on Monday in Abuja.

    Osatimehin said the officers were promoted for their gallant performance in curbing crimes, arrest of criminals and intelligence gathering.

    Those promoted are Mmadunaeme David, who was promoted to the position of Commander, Operations and Ofodile Peter, who was elevated to the rank of Deputy Commander.

    The Deputy Commander General in charge of Technical Services, Dr John Metchie, congratulated the officers, saying they deserved recognition and promotion for their exceptional exploits.

    Metchie commended the CG for the gesture, adding that it would motivate officers and men of the service to put in more effort towards achieving the objectives of NHFSS.

    NHFSS is a registered umbrella body of Hunters in Nigeria with the mandate to support the Nigeria Police and other security agencies to protect lives and property in ungoverned areas like forests and bushes.

    The Bill for an Act to establish the Federal Government Security Service, to detect and prevent forest crime, has been passed by both Senate and House of Representatives and is currently awaiting the President’s assent. (NAN) (www.nannews.ng)

    OYS/AMM

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    Edited by Abiemwense Moru