Abuja Time
The National Youth Service Corps (NYSC) has confirmed that the nine serving corps members (CMs), all young men, who were killed by rioters in Bauchi State following the April 16 presidential election, will be given a national burial.
And speaking in Lagos Thursday, Professor Wole Soyinka, expressed dismay over last week’s violence in some parts of the North, saying it was clear to every discerning mind that the mayhem had long been conceived.
In adverts placed in national dailies and electronic media across the country today, the NYSC lamented that CMs who had added credibility to the electoral process became targets of some disgruntled people who were not satisfied with the results of the elections.
The names of the deceased are: Teidi Tosin Olawale (from Osun State, BSc Computer Science); Nkwazema Anslem Chukwunonyerem (Imo State, HND Electrical Electronic Engineering), Okpokiri Obinna Michael (Abia State, BSc Environmental Management), Adowei Elliot (Bayelsa State, BSc Computer Science) and Adewunmi Seun Paul (Ekiti State, BSc, Social Sciences).
Others are Adeniji Kehinde Jehleel (Osun State, BSc Banking & Finance), Gbenjo Ebenezer Ayotunde (Osun State, BSc, Education Economics), Ukeoma Ikechukwu Chibuzor (Imo State, BSc Medical Microbiology) and Akonyi Ibrahim Sule (Kogi State, HND Business Administration). The deceased are to be given national burials after the organisation has liaised with their parents. President Goodluck Jonathan is expected to be represented by governors of the states where the slain corps members hailed from.
Saturday, April 30, 2011
Friday, April 29, 2011
Cbn Imposes Limits, Penalty On Cash Transactions, Again!
….N150,000 for individuals; N200,000 for corporate organisations
From June 2012, individuals that make cash withdrawal or deposit above N150,000 would pay a fine of N100 per extra N1,000, while corporate organisations that make cash withdrawal or deposit above N1 million would pay fine of N200 per extra N1,000.
These limits for free cash withdrawal and deposits were part of a new policy aimed at reducing the high usage of cash in the economy announced by the Central Bank of Nigeria, CBN, yesterday.
The policy, which would be enforced in Lagos State, Abuja, Port Harcourt, Kano and Aba in the first instance also banned encashment of third party cheques above N150,000 across the counter
The policy was contained in a circular signed by Mr Muhammad Nda, Director, Currency Operations Department and addressed to all banks, Cash In Transit (CIT) companies and electronic payment providers.
The circular entitled: “Industry policy on retail cash collection and lodgement” stated: “In view of increasing dominance of cash in the economy with its implication for cost of cash management to the banking industry, security, money laundering, etc., the Central Bank of Nigeria, in collaboration with the Bankers Committee, is adopting policies to reduce the high usage of cash, moderate the cost of cash management and encourage the use of electronic payment channels. Consequently, the Central Bank of Nigeria hereby directs as follows:
The limits
“Commencing from June 1, 2012, a daily cumulative limit of N150,000 and N1,000,000 on free cash withdrawals and lodgments by individual and corporate customers respectively with Deposit Money Banks (DMBs) shall be imposed. To this end, individuals and corporate organisations that make cash transactions above the limits will be charged a penal fee of N100/thousand and N200/thousand respectively for amounts above the cumulative limits.
“Contravention of this policy shall attract a fine of five (5) times the amount that the bank waives as a first offender. Subsequently, the bank shall pay ten (10) times the charges waived.
“Furthermore, 3rd party cheques above N150,000 shall not be eligible for encashment over the counter. Value for such cheques shall be received through the clearing house.
Penalties
“If a bank allows 3rd party cheque encashment, it shall be liable to a sanction of 10% of the face value of the cheque or N100,000 whichever is higher.
“Banks will cease cash in transit lodgment services rendered to merchant_customers from June 1, 2012. In this regard, customers could engage the services of the CBN licensed cash-in-transit (CIT) companies to aid cash movement to and from their banks at mutually agreed terms and conditions. Contravention of this policy shall attract a fine of N1.0 million per specie movement.
“This arrangement shall be in force in Lagos State, FCT, Port Harcourt, Kano and Aba in the first instance. The arrangement shall be extended to other parts of the country at a date to be determined by the Bankers Committee.”
“To achieve interoperability of local currency POS transactions, no card scheme, foreign or local, shall operate exclusive acquirer agreement or contract in Nigeria with effect from June 1, 2011. Any payments scheme, processor, switching company, service provider or
bank that contravenes this policy may be suspended for a minimum of one (1) month by the CBN as a processor, switching company, service provider etc in the first instance. The license may be withdrawn by the CBN if the contravention is repeated.
“This policy shall apply to both private and public sector transactions. All financial institutions including Deposit Money Banks, Savings and Loans, Mortgage and Microfinance Banks shall comply accordingly.
“Compliance with the policy shall be monitored by the Banking Supervision Department and the Other Financial Institutions Supervision Department with appropriate sanction applied to erring institutions.
“While the Central Bank of Nigeria will make general announcements and carry out public awareness programmes individual banks are expected to do same. The affected customers of banks should be informed in good time by the banks with clear advice on alternative electronic payment channels available to them.”
From June 2012, individuals that make cash withdrawal or deposit above N150,000 would pay a fine of N100 per extra N1,000, while corporate organisations that make cash withdrawal or deposit above N1 million would pay fine of N200 per extra N1,000.
These limits for free cash withdrawal and deposits were part of a new policy aimed at reducing the high usage of cash in the economy announced by the Central Bank of Nigeria, CBN, yesterday.
The policy, which would be enforced in Lagos State, Abuja, Port Harcourt, Kano and Aba in the first instance also banned encashment of third party cheques above N150,000 across the counter
The policy was contained in a circular signed by Mr Muhammad Nda, Director, Currency Operations Department and addressed to all banks, Cash In Transit (CIT) companies and electronic payment providers.
The circular entitled: “Industry policy on retail cash collection and lodgement” stated: “In view of increasing dominance of cash in the economy with its implication for cost of cash management to the banking industry, security, money laundering, etc., the Central Bank of Nigeria, in collaboration with the Bankers Committee, is adopting policies to reduce the high usage of cash, moderate the cost of cash management and encourage the use of electronic payment channels. Consequently, the Central Bank of Nigeria hereby directs as follows:
The limits
“Commencing from June 1, 2012, a daily cumulative limit of N150,000 and N1,000,000 on free cash withdrawals and lodgments by individual and corporate customers respectively with Deposit Money Banks (DMBs) shall be imposed. To this end, individuals and corporate organisations that make cash transactions above the limits will be charged a penal fee of N100/thousand and N200/thousand respectively for amounts above the cumulative limits.
“Contravention of this policy shall attract a fine of five (5) times the amount that the bank waives as a first offender. Subsequently, the bank shall pay ten (10) times the charges waived.
“Furthermore, 3rd party cheques above N150,000 shall not be eligible for encashment over the counter. Value for such cheques shall be received through the clearing house.
Penalties
“If a bank allows 3rd party cheque encashment, it shall be liable to a sanction of 10% of the face value of the cheque or N100,000 whichever is higher.
“Banks will cease cash in transit lodgment services rendered to merchant_customers from June 1, 2012. In this regard, customers could engage the services of the CBN licensed cash-in-transit (CIT) companies to aid cash movement to and from their banks at mutually agreed terms and conditions. Contravention of this policy shall attract a fine of N1.0 million per specie movement.
“This arrangement shall be in force in Lagos State, FCT, Port Harcourt, Kano and Aba in the first instance. The arrangement shall be extended to other parts of the country at a date to be determined by the Bankers Committee.”
“To achieve interoperability of local currency POS transactions, no card scheme, foreign or local, shall operate exclusive acquirer agreement or contract in Nigeria with effect from June 1, 2011. Any payments scheme, processor, switching company, service provider or
bank that contravenes this policy may be suspended for a minimum of one (1) month by the CBN as a processor, switching company, service provider etc in the first instance. The license may be withdrawn by the CBN if the contravention is repeated.
“This policy shall apply to both private and public sector transactions. All financial institutions including Deposit Money Banks, Savings and Loans, Mortgage and Microfinance Banks shall comply accordingly.
“Compliance with the policy shall be monitored by the Banking Supervision Department and the Other Financial Institutions Supervision Department with appropriate sanction applied to erring institutions.
“While the Central Bank of Nigeria will make general announcements and carry out public awareness programmes individual banks are expected to do same. The affected customers of banks should be informed in good time by the banks with clear advice on alternative electronic payment channels available to them.”
Wednesday, April 20, 2011
Narrow Escape By NYSC Corpers In Bauchi
THEY never knew that evil was on the way. All was calm in the neighbourhood, although the news had been broken that rioters were on the rampage in the city.
Suddenly, it got noisy and rowdy outside the building where no fewer than 50 National Youth Service Corps (NYSC) members huddled together, feeling safe, away from the madness that had seized the city by the throat.
Angry youths protesting the results of the presidential election stormed the Nigerian Christian Corpers Fellowship (NCCF) Secretariat in the heart of Minna, the Niger State capital.
They forcibly locked the Corps members in and set the building on fire.
But the leader of the Corps members, fondly called Papa by his colleagues, found the strength to break down the door and set his colleagues free.
“Some had burns,” one of the lucky boys and girls told The Nation at the Army Barracks, where they are taking refuge.
He said they were initially few at the “Family House”, as the secretariat is called by NCCF members, but many rushed in to escape the rioting near their homes in other parts of the city.
“We were taken by surprise. We couldn’t retrieve anything from the fire,” he said, pleading for anonymity so that, according to him, his relatives would not panic over his safety.
The building was smouldering yesterday.
The irate youths also burnt the NCCF 18-seater bus, which was bought two months ago, and a motorcycle belonging to the fellowship.
The development has forced the NYSC to direct all Corps members in Chanchaga (Minna) Local Government Area to relocate from their homes to the Nigeria Army Training and Doctrine Command (TRADOC) barracks on the outskirts of the city.
Two NYSC officials were taking care of about 200 “refugees” at the barracks. Religious organisations have sent relief materials to them.
The Family House of the NCCF, a fellowship centre and a lodge for Christian corps members, was one of the seven worship centres burnt by the youths who said they were protesting the emergence of Dr Goodluck Jonathan as winner of the presidential election.
If the “Minna 50” were lucky, not so four of their colleagues and two police officers in Bauchi. They were killed by rioters.
Christian Association of Nigeria {CAN} chair Bishop Musa Tula said more than 20 people died in the violence unleashed on innocent people by those he suspected to be political thugs.
Several churches, cars, homes and business houses were burnt.
The police said over 200 suspects had been arrested in connection with the violence in Bauchi metropolis, Misau and Azare Dambam.
Banks and government businesses in the state capital have closed. Three churches, including Gospel Life Church and Deeper Life Church in the state capital, were burnt. Another one in Bara, Alkaleri Local Government Area, was burnt.
It was learnt that trouble started when some youths said to be CPC supporters suddenly went berserk over the results of the election.
The new police commissioner deployed to the state to ensure a hitch-free election, Ammama John Abakasanga, told reporters yesterday that over 200 suspects had been arrested.
He said four Youth Corps members were killed in Itas Gadau during the election. He added that no fewer than 20 other Corps members were still missing.
The Commissioner said the police rescued 20 of the 51 corps members in Itas Gadau, Jamare and Dabam local government areas.
The rescued Corps members are at the Police Officers’ Mess, Bauchi.
But the NYSC secretariat in Bauchi yesterday kept quiet over the corps members.
Abakasanga said a Divisional Crime Officer (DCO), Police Division, Jama’are Local Government Area and a woman Corporal were killed in Giade. The Divisional Police Officer and DCO of Dabam Local Government were injured. They are hospitalised.
The police boss said his men recovered three ballot boxes and 10 locally made guns from the suspects, who include two under age children.
There were looting and burning yesterday by youths who seized shops, business premises and the streets as early as 7a.m., attacking innocent citizens.
Residents of Igbo quarters, Zango, Railway and most parts of the metropolis fled to the Army and Police barracks as the arson continued.
The INEC offices in Bauchi, Jamare, Misau, Dabam and Itas Gadau were torched.
The Resident Electoral Commissioner in the state, Senator Iliya Audu, told reporters that all the offices were looted before being set ablaze.
Audu said at the INEC office in Bauchi, 500 laptops, 16 power generating sets, cabinets and burglary proof belonging to the commission were stolen before the building was set on fire.
No fewer than 6,000 persons have been displaced, Abubakar Adamu, Bauchi State Secretary, Nigeria Red Cross Society, said.
According to Abubakar, about 23 others, who are injured, have been hospitalised.
On the over 6000 displaced, the Red Cross boss said: “No food or any kind of aid has been supplied to them. They desperately need food. And the State Emergency Management Agency is yet to respond, despite their knowledge of these people’s situation.”
He said residents who ran away for fear of being attacked were returning to their homes.
Suddenly, it got noisy and rowdy outside the building where no fewer than 50 National Youth Service Corps (NYSC) members huddled together, feeling safe, away from the madness that had seized the city by the throat.
Angry youths protesting the results of the presidential election stormed the Nigerian Christian Corpers Fellowship (NCCF) Secretariat in the heart of Minna, the Niger State capital.
They forcibly locked the Corps members in and set the building on fire.
But the leader of the Corps members, fondly called Papa by his colleagues, found the strength to break down the door and set his colleagues free.
“Some had burns,” one of the lucky boys and girls told The Nation at the Army Barracks, where they are taking refuge.
He said they were initially few at the “Family House”, as the secretariat is called by NCCF members, but many rushed in to escape the rioting near their homes in other parts of the city.
“We were taken by surprise. We couldn’t retrieve anything from the fire,” he said, pleading for anonymity so that, according to him, his relatives would not panic over his safety.
The building was smouldering yesterday.
The irate youths also burnt the NCCF 18-seater bus, which was bought two months ago, and a motorcycle belonging to the fellowship.
The development has forced the NYSC to direct all Corps members in Chanchaga (Minna) Local Government Area to relocate from their homes to the Nigeria Army Training and Doctrine Command (TRADOC) barracks on the outskirts of the city.
Two NYSC officials were taking care of about 200 “refugees” at the barracks. Religious organisations have sent relief materials to them.
The Family House of the NCCF, a fellowship centre and a lodge for Christian corps members, was one of the seven worship centres burnt by the youths who said they were protesting the emergence of Dr Goodluck Jonathan as winner of the presidential election.
If the “Minna 50” were lucky, not so four of their colleagues and two police officers in Bauchi. They were killed by rioters.
Christian Association of Nigeria {CAN} chair Bishop Musa Tula said more than 20 people died in the violence unleashed on innocent people by those he suspected to be political thugs.
Several churches, cars, homes and business houses were burnt.
The police said over 200 suspects had been arrested in connection with the violence in Bauchi metropolis, Misau and Azare Dambam.
Banks and government businesses in the state capital have closed. Three churches, including Gospel Life Church and Deeper Life Church in the state capital, were burnt. Another one in Bara, Alkaleri Local Government Area, was burnt.
It was learnt that trouble started when some youths said to be CPC supporters suddenly went berserk over the results of the election.
The new police commissioner deployed to the state to ensure a hitch-free election, Ammama John Abakasanga, told reporters yesterday that over 200 suspects had been arrested.
He said four Youth Corps members were killed in Itas Gadau during the election. He added that no fewer than 20 other Corps members were still missing.
The Commissioner said the police rescued 20 of the 51 corps members in Itas Gadau, Jamare and Dabam local government areas.
The rescued Corps members are at the Police Officers’ Mess, Bauchi.
But the NYSC secretariat in Bauchi yesterday kept quiet over the corps members.
Abakasanga said a Divisional Crime Officer (DCO), Police Division, Jama’are Local Government Area and a woman Corporal were killed in Giade. The Divisional Police Officer and DCO of Dabam Local Government were injured. They are hospitalised.
The police boss said his men recovered three ballot boxes and 10 locally made guns from the suspects, who include two under age children.
There were looting and burning yesterday by youths who seized shops, business premises and the streets as early as 7a.m., attacking innocent citizens.
Residents of Igbo quarters, Zango, Railway and most parts of the metropolis fled to the Army and Police barracks as the arson continued.
The INEC offices in Bauchi, Jamare, Misau, Dabam and Itas Gadau were torched.
The Resident Electoral Commissioner in the state, Senator Iliya Audu, told reporters that all the offices were looted before being set ablaze.
Audu said at the INEC office in Bauchi, 500 laptops, 16 power generating sets, cabinets and burglary proof belonging to the commission were stolen before the building was set on fire.
No fewer than 6,000 persons have been displaced, Abubakar Adamu, Bauchi State Secretary, Nigeria Red Cross Society, said.
According to Abubakar, about 23 others, who are injured, have been hospitalised.
On the over 6000 displaced, the Red Cross boss said: “No food or any kind of aid has been supplied to them. They desperately need food. And the State Emergency Management Agency is yet to respond, despite their knowledge of these people’s situation.”
He said residents who ran away for fear of being attacked were returning to their homes.
Singer Eva set to release new single.
The song is fun and bouncy as it is sexy and thoughtful.
Monday, April 18, 2011
Nigerian international Adefemi dies in car accident
| |
ATHENS (Reuters) - Skoda Xanthi's Nigerian international Olubayo Adefemi has died in a car accident, Greek police said on Monday.
The 25-year-old defender lost control of his car on the Egnatia motorway while driving from Xanthi to Salonika in the Kavala region of Northern Greece.
The former Rapid Bucharest player was on his way to finalise details of his wedding when the accident happened, police said.
Adefemi signed for Xanthi last summer and made 24 appearances for the club, scoring twice. He has also played three times for Nigeria.
"The Super League and the entire Greek football family would like to express its deepest condolences and sympathy for the family of Olubayo Adefemi who died tragically in a car accident," league organisers said in a statement on Monday.
Tuesday, April 5, 2011
Jonathan's Govt Drops Nuclear Power Plans
Nigeria dumps nuclear power plans
Nigeria may have foreclosed any plans to explore nuclear energy as an alternative source of electricity power generation.
Minister of state for power, Nuhu Wya, who gave this hint in Lagos, said the country would explore other means of power generation in which it has comparative advantage.
Responding to a question at the power conference held in Lagos last week, he said with the inherent danger in nuclear power, the country had no business pursuing that source.
"Why do we have to be talking about using nuclear power? If we have so many other sources of energy that are untapped, why do we have to be talking of one that is not readily available and is a long term development plan? For you to put a nuclear plant and get it working, you are talking about eight years," Mr. Wya said.
Minister of environment, John Odey, had said the use of nuclear energy for electricity generation is no longer an option but a necessity, if Nigeria is to meet her energy needs. According to him, the grid capacity built around oil, natural gas, and hydro is not only grossly inadequate but cannot meet the country's current and future energy demand.
Nuclear emergencies
However, with this pronouncement, the government may have jettisoned the idea. Following the earthquake in Japan, its nuclear plants, which accounts for about 29 per cent of the country's electricity power supply, were badly affected, raising global concern about the dangers of nuclear plants, especially for developing countries like Nigeria.
Though the country has a watchdog, the Nigerian Nuclear Regulatory Authority, which is supposed to regulate and ensure safety in the use of nuclear energy, its state of preparedness to handle such emergencies is still in doubt.
Mr. Wya said the country has abundant capacity in other energy sources such as hydro and thermal, which have not been fully utilised.
"We have received expression of interest from firms that want to invest in the power sector in hydro, gas, wind, coal, and solar power plants.
"We must remember that Nigeria is gas and oil economy and already has enough gas to potentially power the whole of Africa. In the same manner, government has commenced effort to balance the energy needs with the development of new sources of power from naturally evolved resources. Already, pilot scheme for solar and wind projects are ongoing," Mr. Wya said.
Potential impediments
Mr. Wya said potential impediments to the entrance of private sector investment in every facet of the power sector will be totally eliminated, in order to make it attractive to investors.
Chairman of the Nigerian Electricity Regulatory Commission (NERC), Sam Amadi, said government would guide against the emergence of monopolies and manipulations in the power sector once it is privatised.
"It is normal to find collusion. A market participant can be so powerful that it can consistently act independently in keeping price above competitive level. Electricity market can lend itself to manipulation," Mr. Amadi said.
He said the commission will strive to protect consumers while ensuring that electricity tariff will be competitive enough to encourage investment in the sector.
"We will protect consumers by ensuring just and fair pricing, carry out social policies, and prevent anti-competitive practices by active participants," he said.
Nigeria may have foreclosed any plans to explore nuclear energy as an alternative source of electricity power generation.
Minister of state for power, Nuhu Wya, who gave this hint in Lagos, said the country would explore other means of power generation in which it has comparative advantage.
Responding to a question at the power conference held in Lagos last week, he said with the inherent danger in nuclear power, the country had no business pursuing that source.
"Why do we have to be talking about using nuclear power? If we have so many other sources of energy that are untapped, why do we have to be talking of one that is not readily available and is a long term development plan? For you to put a nuclear plant and get it working, you are talking about eight years," Mr. Wya said.
Minister of environment, John Odey, had said the use of nuclear energy for electricity generation is no longer an option but a necessity, if Nigeria is to meet her energy needs. According to him, the grid capacity built around oil, natural gas, and hydro is not only grossly inadequate but cannot meet the country's current and future energy demand.
Nuclear emergencies
However, with this pronouncement, the government may have jettisoned the idea. Following the earthquake in Japan, its nuclear plants, which accounts for about 29 per cent of the country's electricity power supply, were badly affected, raising global concern about the dangers of nuclear plants, especially for developing countries like Nigeria.
Though the country has a watchdog, the Nigerian Nuclear Regulatory Authority, which is supposed to regulate and ensure safety in the use of nuclear energy, its state of preparedness to handle such emergencies is still in doubt.
Mr. Wya said the country has abundant capacity in other energy sources such as hydro and thermal, which have not been fully utilised.
"We have received expression of interest from firms that want to invest in the power sector in hydro, gas, wind, coal, and solar power plants.
"We must remember that Nigeria is gas and oil economy and already has enough gas to potentially power the whole of Africa. In the same manner, government has commenced effort to balance the energy needs with the development of new sources of power from naturally evolved resources. Already, pilot scheme for solar and wind projects are ongoing," Mr. Wya said.
Potential impediments
Mr. Wya said potential impediments to the entrance of private sector investment in every facet of the power sector will be totally eliminated, in order to make it attractive to investors.
Chairman of the Nigerian Electricity Regulatory Commission (NERC), Sam Amadi, said government would guide against the emergence of monopolies and manipulations in the power sector once it is privatised.
"It is normal to find collusion. A market participant can be so powerful that it can consistently act independently in keeping price above competitive level. Electricity market can lend itself to manipulation," Mr. Amadi said.
He said the commission will strive to protect consumers while ensuring that electricity tariff will be competitive enough to encourage investment in the sector.
"We will protect consumers by ensuring just and fair pricing, carry out social policies, and prevent anti-competitive practices by active participants," he said.
Sunday, April 3, 2011
Breaking News! James Ibori Granted Bail
THEWILL can authoritatively report that Chief James Onanefe Ibori has been released by authorities in Dubai.
A source told THEWILL that though he is yet to speak to him, he was released on health grounds.
THEWILL checks however revealed that the former governor was given 'a temporary reprieve' because his health had deteriorated recently as he is known to suffer from high blood pressure.
Chief Ibori was temporarily released weekend to get some needed adequate medical care as he continues to battle his extradition to London.
Ibori's lawyers had filed bail papers not long ago according to sources familair with the matter, but the full details of his release are still being kept under wraps from THEWILL.
But a source said it is not yet uhuru for the former governor and his supporters and asked those who wish the politician well to continue to say prayers for him, not just for his tribulations but most especially, for his deteriorating health.
THEWILL's attempt to get an official statement from Chief Ibori or his associates have so far been unsuccessful.
A source told THEWILL that though he is yet to speak to him, he was released on health grounds.
THEWILL checks however revealed that the former governor was given 'a temporary reprieve' because his health had deteriorated recently as he is known to suffer from high blood pressure.
Chief Ibori was temporarily released weekend to get some needed adequate medical care as he continues to battle his extradition to London.
Ibori's lawyers had filed bail papers not long ago according to sources familair with the matter, but the full details of his release are still being kept under wraps from THEWILL.
But a source said it is not yet uhuru for the former governor and his supporters and asked those who wish the politician well to continue to say prayers for him, not just for his tribulations but most especially, for his deteriorating health.
THEWILL's attempt to get an official statement from Chief Ibori or his associates have so far been unsuccessful.
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