By Chinyere Joel-Nwokeoma

Financial experts on Thursday said that the Central Bank of Nigeria (CBN), by wielding its big stick, would reduce the overbearing influence of directors on commercial banks.

They disclosed this in interviews with the News Agency of Nigeria (NAN) while reacting to the apex banks appointment of new Chairmen for First Bank of Nigeria Ltd and FBN Holdings Plc.

Mazi Okechukwu Unegbu, former President, Chartered Institute of Bankers of Nigeria (CIBN), said that the big stick would bring sanity among bank board of directors.

Unegbu said that the action would reduce overbearing influence and powers being exhibited by some commercial banks directors going forward.

He said that it would bring to an end the activities of powerful board directors in a corporation.

According to him, the decision and action will warn other people to be careful and to act within regulatory limit.

He, however, said that directors had the power to remove or appoint a managing director, but must obtain the approval of the apex bank before making the announcement.

Also speaking, Prof. Uche Uwaleke, President, the Association of Capital Market Academics of Nigeria, said that it was right for the CBN to wield the big stick on any bank that flours the rules.

Uwaleke said the action would serve as a lesson to the boards of other banks that similar fate awaits them if they take critical decisions bordering on board composition and corporate governance in general without prior approval of the CBN.

A banking system regulator should be seen to take the issue of corporate governance very seriously.

In this particular matter, my take is that the apex bank is in order in view of the fact that it gave the Board of FirstBank the opportunity to defend itself.

It behoves the CBN now to communicate the reasons for its action to members of the public and provide reassurance of Banking system stability, Uwaleke said.

NAN reports that the apex bank on Thursday announced the immediate removal of all directors of First Bank of Nigeria Ltd. and FBN Holdings Plc over purported management changes at the bank.

The CBN said that the decision was to protect minority shareholders and depositors. (NAN)

Source: NAN News

By Emmanuel Mogbede

Sen. Godswill Akpabio, Minister of Niger Delta Affairs, says the current security challenge facing the country has political undertone.

Akpabio said this on Thursday in Abuja at the APC National Secretariat when he spoke with newsmen.
I think most of the problems are politically motivated.

So, we must use our binoculars to be able to look and identify the sponsors of the insecurity we are witnessing in the country.

What is happening now is not Nigeria; this is unNigeria.

We must do everything possible, even through advice, to make sure that Nigeria remains united, he said, adding that it was not time for blame game.

He restated his confidence on the Gov. Mai Mala Buni-led All Progressives Congress (APC) Caretaker and Extra-Ordinary Convention Planning Committee.

The minister said he was at the secretariat to meet with the partys leadership and to offer his advice on how to move the country and the party forward.

Akpabio said the committee was doing well in repositioning the party and addressing areas of discord.

We have a lot of issues that I think the party can help to resolve, and all hands must be on the deck for us to solve our problems, he said.

Akpabio said that the security challenge in the country has already assumed a worrisome dimension as it was not limited to one section of the country.

We have never in the history of this nation witnessed where people in uniform are targeted for elimination.

That will show you that we have infiltrators in our midst, the security of our neighbouring countries must also remain a priority, he said. (NAN)

Source: NAN News

By Priscilla Osaje

Nigerian star comedian, Bright Okpocha popularly known as Basketmouth, is set to release his long anticipated short film, The Confession of a Bandit on May 3.

The renowned comedian, Basketmouth, who said he was so excited for the debut of his short film, took to his instagram handle @basketmouth, to announce the movie with an official unveiled poster.

According to him, the long awaited short film The Confession of a Bandit is set to premiere on 3rd May.

The Confession of A Bandit (A Short Film) May 3rd, he wrote.

He added that the cast list which includes: Basketmouth, Funnybone, Buchi and Senator, were well known for their hilarious comedy.

We know were in for a good laugh and cant wait to see the magic these superstars have created together again.

These fantastic actors also star in Basketmouths TV series My Flatmates and the web series Papa Benji.

Basketmouth is a Nigerian comedian, presenter, MC, TV host and actor.

He is popularly considered a driving force in the countrys stand-up comedy industry.

Besides his TV series, Basketmouth has also shown his versatility in making skits and succeeded as well.

it would be recalled that the comedian once trended the #TwoThingsChallenge on Social Media and currently runs many comedy series on his YouTube Channel like Mambo

European ruling body UEFA will join English sports clubs and organisations in taking part in a social media boycott to protest against hostility and racism there.

UEFA said on Thursday it would stay silent across its platforms from Friday afternoon until Monday evening.

There have been abuses both on the pitch and on social media.

This is unacceptable and needs to be stopped, with the help of the public and legislative authorities and the social media giants, UEFA president Aleksander Ceferin said in a statement.

Allowing a culture of hatred to grow with impunity is dangerous, very dangerous, not only for football, but for society as a whole.

Weve had enough of these cowards who hide behind their anonymity to spew out their noxious ideologies, Ceferin added.

In England, the Football Association, Premier League, clubs and other sports organisations will switch off their social media accounts in the same period.

They will also call on social media companies to take more action against discrimination and racism, and also urge for tighter legislation.

Germany clubs Hoffenheim and St Pauli Hamburg are among those from abroad who will join the boycott.(dpa/NAN)

Source: NAN News

By Emmanuel Afonne

Pillar of Sports in Africa and Chief Whip of the Senate, Dr Orji Kalu, has congratulated Nigerians on the victory of Enyimba International Football Club FC of Aba against Orlando Pirates of South Africa in a CAF Confederation Cup match.

The News Agency of Nigeria (NAN) reports that Enyimba pipped Pirates by a lone goal in the final Group A game on Wednesday night to book their place in the quarter-finals of the CAF Confederation Cup tie in Aba.

Cyril Olisema netted the only goal of the match in the 95th minute to ensure the Peoples Elephant upstaged the South African side to top the group in spite of finishing on the same 9 points with Pirates.

Enyimba had lost 1-2 to Orlando Pirates when they met on Match Day 2 of the competition in South Africa but relied on head-to-head advantage to sit comfortably at the top of the group.

Kalu, in his goodwill message, commended the players and officials of the football club for their superlative skills.

He said, I felicitate with Enyimba FC on their well-deserved victory against Orlando Pirates in the CAF tournament.

The players demonstrated their capability.

The victory of the team is well deserved and encouraging.

According to Kalu who is the Senate Chief Whip and a football enthusiast, the round leather game brings people together and ultimately promotes peace and unity.

He called on stakeholders in the sports industry in the country to focus on grassroots sports development in order to discover talented players in their prime.

Kalu also advocated private sector participation in sports development, adding that sports should not be seen as a leisure activity but business opportunity.

It would be recalled that Enyimba FC was repositioned during Kalus stint as Governor of Abia state, with the team clinching the CAF Champions League back to back in 2003 and 2004. (NAN)

Source: NAN News

By Temitope Ponle

The African Development Bank (AfDB) and the International Fund for Agricultural Development (IFAD) have expressed their commitment to work with African leaders to redouble efforts at strengthening food security in the continent.

This formed part of the decisions reached at a two-day virtual High-Level Dialogue on Feeding Africa: Leadership to Scale up Successful Innovations hosted in Addis Ababa, Ethiopia, on Thursday.

The commitment was also made in partnership with the Forum for Agricultural Research in Africa (FARA) and the Consultative Group for International Agricultural Research (CGIAR) system organisation.

The international organisations pledged to make adequate funding available to modernise Africas food production.

President of AfDB, Dr Akinwumi Adesina, said getting new and appropriate technologies to African farmers was an important part of addressing Africas food security needs.

Unless we show strong collective resolve and turn ambition into reality, we will be confronted with enormous food shortages on the continent.

Rapid population growth, urbanisation and ongoing climate change will make this certain. The consequences of not acting would be devastating, Adesina added.

IFAD President, Mr Gilbert Houngbo, called for more commitment to increased investment in agriculture for Africa to feed itself and the world.

Agriculture has the potential to become a thriving and successful sector that creates jobs and provides livelihoods for small-scale farmers and rural populations, in particular, for millions of young Africans joining the job market.

If we commit today to increasing investments in modernising agriculture, providing skills, finance and better access to food value chains, he said.

The high-level dialogue is focused on modernising food production, making African agriculture more business oriented, and strengthening agriculture value chains.

It is expected to address the vital role of climate-smart technology and innovation as key drivers of high agricultural productivity and resilient food and nutrition systems.

The dialogue will also showcase success stories and enable leaders to discuss options to scale up initiatives, strengthen research and development capacity, as well as forge supportive alliances and partnerships across the food and nutrition ecosystems.

Another outlook for the dialogue is an opportunity to share achievements and lessons from across the continent and accelerate agricultural transformation, the organisers said.

The virtual event brought together government officials, heads of multilateral development banks, development partners, regional organisations, research institutions, business leaders, private sector operators, investment agencies, participants from academia, civil society organisations and experts globally.

Also at the virtual dialogue would be heads of state of 18 African countries; Agns Kalibata, Special Envoy of the UN Secretary-General for the 2021 Food System Summit; and Tony Blair, Executive Chairman of the Institute for Global Change.

Other high-level delegates include the heads of the Food and Agriculture Organisation (FAO), the Islamic Development Bank Group (IsDB), Afreximbank, and the Arab Bank for Economic Development in Africa (BADEA), among others. (NAN)

Source: NAN News

By Kingsley Okoye

Senate Committee on Army has invited Finance Minister, Director-General of Budget Office and Chief of Army Staff (CAS) to give details of funds released to the Nigerian Army to combat insurgency and banditry in Nigeria.

The minister, Mrs Zainab Ahmed, Budget Chief Ben Akabueze and CAS Lt.-Gen. Attahiru Ibrahim, are to appear on May 4, the Chairman of the Committee, Sen. Ali Ndume, said on Thursday.

Ndume (APC-Borno), issued the summon on behalf of the committee at a meeting with officials of ministry.

He said the financial details required were those from 2019 until date.

Ndume expressed dismay at the ministers failure to honour the committees invitation in spite of the challenge of insecurity in the country.

Honestly, we are not happy that the Minister of Finance is not here today despite the fact that she was duly invited and she knew the importance of the issue we invited her to discuss with us.

There is nothing that is more important that she could be attending to that is more serious than the problem of insecurity all over Nigeria at the moment.

We were blaming the military but the soldiers are claiming that they have no equipment, arms and ammunition to work with because there was no money to buy them.

We have invited the minister now to explain why her ministry was not funding the operations of the Army and she is not here, this is not acceptable.

Permanent Secretary, Special Duties in the Ministry, Aliyu Shinkafi, explained that N75 billion was appropriated and released in 2019 while additional N7 billion from the service wide vote was also released 100 per cent.

The sum of N2.5 billion was also released in 2019.

In 2020, N75 billion was appropriated but N74.99 billion was released.

In the current year, N100 billion had been appropriated and we have released N19.4billion for the first quarter.

Just yesterday, we released N19.95 billion for the second quarter.

I believe that we are on course as far as releases for these operations are concerned

But Ndume informed participants of a letter from the Chief of Defence Staff which indicated that military authorities had complained of shortfalls in releases from the ministry for funding of its operations.

The letter from the defence headquarters on the funding of Operation Lafiya Dole is claiming that they have a shortfall of N50 biliion in terms of releases and requested us to do a follow up on the matter, Ndume said.

However, Shinkafi insisted that the entire amount appropriated had been released by the ministry. (NAN)

Source: NAN News

By Igbaugba Ehigimetor

Prof. Osadolor Odia, of the Ambrose Alli University (AAU) Ekpoma, has been reportedly abducted by unknown gunmen at his farm at Egoro, Ekpoma, in Esan West Local Government Area of Edo.

Odia, a Professor of Engineering and former Head of the Department of Mechanical, Engineering at the AAU, was said to be on his way to the farm when the incident occurred.

A family source, who pleaded anonymity, said the professors abductors had already made contact with the family asking for a ransom of N18 million.

I can confirm that Odia was kidnapped today on his way to the farm and a ransom of N18 million was demanded by the kidnappers.

When contacted, the Public Relations Officer of the university, Edward Aihevba, said he received the news of the abduction as general information.

Aihevba stated that he had no details of how the incident happened.

Similarly, Spokesman of the Police Command in Edo, Kontongs Bello, said he was not aware of the incident and promised to contact the Divisional Police Office in charge of Ekpoma. (NAN)

Source: NAN News

By Joan Nwagwu

The Nigeria Labour Congress (NLC) has called on stakeholders to interrogate the issues causing insecurity in the country and finding a lasting solution to the menace.

Mr Ayuba Wabba, NLC President made the call at the 2nd National Peace Security Summit with the theme, Overcoming the Siege of Insecurity in Nigeria: Imperative of Human and Physical Security on Thursday in Abuja.

Wabba said that the organised labour had the responsibility to represent and defend not only the interest of workers but also national interest that bothers on national security.

This peace summit is to interrogate the issues causing insecurity and find a lasting solution that can take the country out of the woods of insecurity sooner or later.

This summit is taking place against the backdrop of increase in criminality as occasioned by terrorism, banditry and all sheds of criminality including, kidnaping, abduction, and killing of our citizens.

In the North East, Boko Haram insurgency is yet to be completely addressed, in the North Central, there is the farmers-herders conflict, and also the issue of kidnapping, in the South-South and South East.

There is the recent issue of criminals attacking armed forces and the police and carting away their ammunitions and in the North West.

The situation is compounded with bandits sacking communities at will and taking over villages, he said.

Wabba expressed the organised labours sympathy to the families over the death of five undergraduates of the Green Peace University in Kaduna State, who were murdered by the bandits.

He, however, noted that the Chibok girls and the girl, Leah Sharibu, were still held in captivity by their captors.

We therefore demand that there should be minimum requirement in terms of arms and ammunitions, in terms of technology deployment and in terms of welfare, he said.

The NLC president also noted that the temperament of the summit was supported by the International Labour Organisation recommendation 2015 that deals with empowerment and employment for decent work for peace and resilience.

This recognises the importance of decent work, promoting peace, preventing crisis situation arising from conflict and disaster, enabling recovery and building resilience.

Recommendation 205 recognises that there can be no sustainable peace and security without respect for human rights and rule of law.

Including respect for fundamental principles and right at work and International labour standards.

The summit is also looking at how best to support the armed forces in the prosecution of the anti-terrorism war.

However, we are concerned about recent plans to relocate the U.S. African Command from Germany to Nigeria.

We welcome intelligence sharing and ammunitions support to our armed forces, we warn that it will be counterproductive to replace our army with foreign soldiers.

Nigerian Armed Forces are capable of surmounting the insecurity challenge if they are supported with adequate funds and technological equipment, Wabba added.

He, however, called on political leaders to take responsibility for the actions they took while in office.

He added that, there is a nexus between throwing workers out of their jobs and the resultant increase in unemployment and rising wave of insecurity.

He noted that the present high state of insecurity in Kaduna state had a lot to do with the penchant by the state government for throwing workers out of jobs.

As we speak, from 2016 to date, over 29,000 workers have been thrown out of their jobs in Kaduna state and also tuition fees in Kaduna state have been increased by 100 percent.

What this means is that many children of the poor workers will not be able to attend good schools while the children of the rich are sent to study outside the country.

The implication is that these children who dropped out of school will now be used by bad elements to perpetrate insecurity in the country.

We call on the governor of Kaduna state to rescind the decision urgently, he said.

The former Chairman, All Progressive Congress (APC), Mr Adams Oshiomole, alleged that the over 35,000 workers recently sacked by Kaduna State government has played a major role in contributing to the current insecurity experienced in the state.

Oshiomole alleged that the children that have been abandoned by the society are now grown up and turned against the society for turning their back on them.

The former APC Chairman, said that security should not only be looked from the aspect of what the military and police can do to restore peace rather it should also be tackled from the issue of security of wages and jobs.

Oshiomole also queried why the Lawmakers would prescribe N30, 000 as minimum wage and some governors for some reasons would sit and insist that the amount cannot be paid.

When they deny workers such payment, can there be peace. I summit with International Labour Organisation that the condition for national peace and security does not necessarily need much bullet but decent jobs, he said.

Also speaking, the Secretary of Government to the Federation (SGF), Mr Boss Mustapha commended the NLC for organizing the conference.

He said the choice of the theme of this summit was to underscore the importance of government and labour working together for the common good of the Nigerian people.

Mustapha,therefore, said government and labour interaction would constantly be needed to seek ways to improving the best for the country.

I want to thank the NLC for creating this avenue and which is very important, as we begin to think and find solutions to all that are bedeviling us and we must find solutions, Mustapha added. (NAN)

Source: NAN News

By David Adeoye

Gov. Seyi Makinde of Oyo says his administration has concluded arrangements to engage the Man O War Nigeria to provide security and surveillance in primary and secondary schools in the state.

The governor made this known on Thursday in Ibadan when he received the National Executives of the Man O War Nigeria who paid him a courtesy visit in his office.

He decried the recent trend of kidnapping of students, among other security challenges, which he described as worrisome.

He urged the organisation to double its efforts at the grassroots in order to contribute its quota to stem the tide of insecurity in the country.

Man O War, as an organisation, is trying its best.

I can testify to the role Man O War played during the elections that I participated in as governorship candidate in 2015 and 2019; so, I will renew my commitment in Man OWar.

This is a period that Man O War will need to double its efforts and look at programmes at the grassroots level, where we can project more on the issue of citizenship and leadership for our country.

The governor said that there had been discussions with states Commissioner for Education on how to beef up security.

Some of the schools are not properly fenced.

The ministry recently submitted a proposal on fencing and having demarcations for all of the schools, but this idea of deployment of Man O War for security and surveillance is a welcome idea.

We will look at the proposal and we should be engaging either the national or state command team to ensure that this can see the light of day.

I think it is something that we will do, Makinde said.

He further assured the Man O War that he would resume his sponsorship of the organisation in his personal capacity.

The governor used the occasion to announce the donation of two utility vehicles to the Man OWar Oyo State Command and one to the National Command of the organisation.

Earlier, the Deputy National Commandant of Man O War, Gbenga Adedamola, called for the re-awakening of the culture of joining voluntary organisations like the Man O War among Nigerian youths.

According to him, this will build the spirit of patriotism.

He requested for assistance from the governor to make the organisation function better.

Adedamola stressed that the passion and commitment of the governor for youth development remained commendable. (NAN)

Source: NAN News