Politics › Gov Okowa Releases N350million For Ibori Reception, Thanksgiving. SR by DaudaAbu(op): 3:22pm On Feb 10, 2017 |
Governor Okowa To Spend N350 Million On Ibori Reception, Thanksgiving
Two sources in Delta State, one of them a senior government official, told SaharaReporters that Mr. Okowa released the funds in order to ensure that the reception for Mr. Ibori, scheduled to take place on Sunday at the former governor’s hometown of Oghara, would be a huge event.
Governor Ifeanyi Okowa of Delta State has reportedly authorized the release of N350 million to fund an elaborate church thanksgiving service and reception in honor of former Governor James Onanefe Ibori.
Mr. Ibori was released from prison in the United Kingdom (UK) last December after serving a 13-year jail term following conviction on charges related to corrupt enrichment and money laundering. Last Saturday, the ex-convict governor arrived at his country home in Oghara, headquarters of Ethiope West local government area of Delta State, and received an excited welcome from his friends, political associates and residents of the state.
Two sources in Delta State, one of them a senior government official, told SaharaReporters that Mr. Okowa released the funds in order to ensure that the reception for Mr. Ibori, scheduled to take place on Sunday at the former governor’s hometown of Oghara, would be a huge event.
Last Sunday, Mr. Okowa and his entourage, including many members of his cabinet, visited Mr. Ibori at Oghara to pay homage. The current and former governors held a close-door meeting that last several hours.
Speaking confidentially to SaharaReporters, an official of the Delta State government disclosed that Mr. Okowa decided that the state government must bankroll the events formally welcoming ex-Governor Ibori back to the state. The source said the governor’s decision was also “a way to show gratitude to Chief Ibori, who single-handedly made sure that he won the 2015 governorship election.”
The source said Mr. Ibori had done political favors that exceed the more than N350 million that Mr. Okowa has set aside to host the church thanksgiving and reception to welcome home the former governor.
“Chief Ibori not only saw Senator Okowa through all the hurdles in the PDP governorship primaries but made him the governor of the state right from his prison far away in London. Before now, the governor had always vowed to give Chief [Ibori] an elaborate reception for standing behind him politically,” the source said.
Our sources disclosed that a committee was taking shape to oversee the elaborate thanksgiving and reception. The venue of the church service is yet to be disclosed, but the reception is scheduled to take place at the Oghara stadium shortly after the church service.
Before filing this report, our efforts to speak with the Commissioner of Information in Delta State were unsuccessful, as he did not pick up calls to his mobile phone. However, an official at the Ministry of Information confirmed that the state was playing a big role in the forthcoming reception for Mr. Ibori. http://saharareporters.com/2017/02/08/governor-okowa-spend-n350-million-ibori-reception-thanksgiving |
Politics › Re: Brazil To Sell 3 Super Tucano Aircrafts To Nigeria by DaudaAbu(m): 11:17am On Feb 09, 2017 |
fuckingAyaya: use the money to buy more helmet for NAF rather than to buy this toy that can't injure me It incorporates 4th generation avionics which is the latest |
Politics › Re: Brazil To Sell 3 Super Tucano Aircrafts To Nigeria by DaudaAbu(m): 11:07am On Feb 09, 2017 |
pacino26: My brother I read all that o. The reason I used the word REFINED relic in the context of design. Watch Mummy Returns it's there. 
Our airmen deserves better jor better aircraft means more money to purchase Moreover, even with your money its not evry aircraft that can be sold to you. Remember during GEJ time? With all the cash seized in south Africa, we are still not able to purchase aircraft |
Politics › Re: Brazil To Sell 3 Super Tucano Aircrafts To Nigeria by DaudaAbu(m): 10:35am On Feb 09, 2017*. Modified: 11:02am On Feb 09, 2017 |
pacino26: A refined WW2 relic. I think it's mainly used to spray herbicides in the West. 1st production was in 2003, so it cant be a world war relic or any relic for that matter. Moreover its a made in brazil aircraft The Embraer EMB 314 Super Tucano (About this sound pronunciation), also named ALX or A-29 is a turboprop light attack aircraft designed for counter insurgency (COIN), close air support, aerial reconnaissance missions in low threat environments, as well as providing pilot training. Designed to operate in high temperature and humidity conditions in extremely rugged terrain, the Super Tucano is highly maneuverable, has a low heat signature, incorporates fourth generation avionics and weapons system to deliver precision guided munitions. Even most of the private jets our people buy, how many are new ?
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Politics › Re: Brazil To Sell 3 Super Tucano Aircrafts To Nigeria by DaudaAbu(m): 10:11am On Feb 09, 2017*. Modified: 11:13am On Feb 09, 2017 |
Gud move The Embraer EMB 314 Super Tucano, also named ALX or A-29 is a turboprop light attack aircraft designed for counter insurgency (COIN), close air support, aerial reconnaissance missions in low threat environments, as well as providing pilot training. Designed to operate in high temperature and humidity conditions in extremely rugged terrain, the Super Tucano is highly maneuverable, has a low heat signature, incorporates fourth generation avionics and weapons system to deliver precision guided munitions. https://en.m.wikipedia.org/wiki/Embraer_EMB_314_Super_TucanoGhana's Air Force To Expand Super Tucano A-29 Planes Acquisition Amid Negotiations With Brazil's Embraer Defense Ghana’s air force has plans to expand next year with the acquisition of four additional Super Tucano A-29s, popular turboprop-powered aircraft with light attack, reconnaissance and training capabilities. Air Vice-Marshal Michael Samson-Oje said last week his team is close to concluding predelivery negotiations with Embraer Defense, a Brazilian aerospace company, Defense News reported Friday.
If finalized, the deal will increase Ghana’s A-29 quantity to nine. The latest negotiations follow Ghana’s pre-existing contract with Embraer for the supply of five A-29s, which was confirmed by both sides at the Paris Air Show in June.
The A-29, also known as the EMB-314, is racking up global orders and is expanding its footprint in Ghana along with other African nations, including Angola, Burkina Faso, Mauritania and Senegal. These countries joined Brazil, Chile, Colombia, the Dominican Republic, Ecuador, Guatemala and Indonesia as customers for this aircraft. http://www.ibtimes.com/ghanas-air-force-expand-super-tucano-29-planes-acquisition-amid-negotiations-brazils-2221931
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Foreign Affairs › A New Peesident-elect Sworn In Immediately, Before Another Jammeh Happens by DaudaAbu(op): 9:32am On Feb 09, 2017 |
Somalia has a new president. He is Mohamed Abdullahi Farmajo. He was declared winner today after beating rivals in the second round of vote. He got 184 votes, to beat incumbent Hassan Sheikh, who had 97 and Sheikh Shariff, 46. Farmajo, a former Prime Minister was immediately sworn in His victory means Somalia maintains the culture of electing a new President at each election. Hassan Sheikh won the first round of votes which saw the original number of 21 candidates pruned to four. Out of that number, PM Sharmake also dropped out citing interference in the process. he however tasked electors to vote for change. Farmajo once served as a prime minister for less than a year before he was forced to resign under a deal supported by the population who protested when he refused initially. http://www.vanguardngr.com/2017/02/breaking-somalia-elects-farmajo-new-president/ |
Politics › Re: Nigerian Leaders Are Selfish, Only Think Of Their Families – Sanusi by DaudaAbu(m): 7:19am On Feb 09, 2017 |
Selfish indeed |
Politics › Re: Nigeria Is Doomed. Naira exchange rate with African countries as at 8 Feb, 2017 by DaudaAbu(m): 6:25am On Feb 09, 2017 |
You are still a millonaire compared to citizens of some of those countries you mentioned
Their currency is equivalent of your kobo. |
Politics › Re: Efcc At It Again-epic Response by DaudaAbu(m): 6:19am On Feb 09, 2017 |
Now that is classic. Coming from a govt agency, me think its fetch  |
Politics › Shehu Sani To Nigerians; You Don't Need Police Permit To Protest by DaudaAbu(op): 7:12am On Feb 06, 2017 |
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Politics › How Interception Of Arms On Lagos Highway Exposed Corruption At The Ports by DaudaAbu(op): 7:01am On Feb 05, 2017 |
This is not the best of times for the Apapa Command of Nigeria Customs Service (NCS). This is following the interception of a container loaded with arms that was released at the port. Operatives of the Federal Operation Unit (FOU) Ikeja had intercepted the container on the way to an unknown location at Mile 2, Apapa Expressway toward the end of January. The container had 49 boxes of 661 pump action rifles. Also discovered were bullet proof doors and other merchandise goods in the container. The importer had declared the items as furniture, which incidentally is under import prohibition. For the Customs, it was a big seizure, one of the reasons why the Comptroller General of the Customs, Rtd. Col. Hameed Ali, had to fly to Lagos to see things for himself. Ali who was evidently shaken by the discovery told newsmen at a press conference that the container was cleared at the Apapa port with the aid of two officers, who are now being investigated. The arms, he said, originated from Turkey and routed through China before being smuggled into Nigeria. Apart from the two officers who had already been declared wanted, three suspects have been arrested over the seizure, including Mahmud Hassan, Oscar Okafor and Sadique Mustapha. The custom management had declared Abdullahi I, with service number 44483 ASC, and Odiba Haruna Inah, with service number 133386, wanted. The two were said to have fled after the interception of the container. Ali said “these rifles are under absolute prohibition, therefore their importation was illegal. Such deadly contravention of the law is even more unacceptable considering the fragile security situation in some parts of the country Questions on Customs Examination
For observers, the interception of the container of arms has raised concerns as to how safe the country is with criminals bribing their way to bring in such amount of arms through the ports. There is also concern that such crime may certainly not be the first time. The concern is if such container can come in through the nation’s premier port and cleared, one can imagine how smugglers could be having their way using the porous border stations. Many are of the view that there is the possibility of such consignments being released in the past by unscrupulous officers with the importers not caught.
The question many also ask is: how come such consignment left the seaport without any officer detecting the content? Was the container not examined? If not, why should it be so? Sources said that the container may have been ‘flown out’ of the port by a mafia group, who have their men on the ground at the port level. Sources said a syndicate specialises in ‘flying’ contraband which cannot be cleared officially from the system. Yet, this was in the days when the seaports had not been concessioned. A source said the era of ‘flying’ container may have gone with the concessioning of the ports. This is with tightened security in the terminals. Incidentally, the seaport is under tight security 24/7, particularly inside the terminals and at the exit gate, a situation that makes it difficult for such ‘flying’ container to pass. Corruption in the Ports
The seaport is one area many people have described as a corrupt zone. The reason is that there is hardly any importer that is ready to abide by trade regulations. Most of them are involved in cutting corners by using the customs agents who liaise with resident customs officers to have their way. Most times, the customs officials are handicapped because of the pressure on them to succumb to taking bribe from the importers through their customs agents. The situation is that customs officials, who are benefiting from this corrupt practices have found it difficult to penalise offenders. Even when they do, it is not enough to stop the importers. For instance, when an importer is nabbed for concealment, under-declaration and under-invoicing, it becomes a deal for some customs officials treating his document. How much DN that the importer gets depends on how he is able to settle. If his settlement is reasonable, he gets lower DN. This certainly encourages the same crime again and again. It is a known fact that prominent leaders of associations of customs agents have come out to admit how corrupt the system is.] http://www.thisdaylive.com/index.php/2017/02/05/how-interception-of-arms-on-lagos-highway-exposed-corruption-at-the-ports/ |
Politics › Re: Senate To Block ‘outsiders’ From Heading Customs by DaudaAbu(m): 7:35pm On Feb 03, 2017 |
Mayb they should think of making a law to stop ''outsider'' from heasing CBN too.
Me think that is more impprtant than the CGC.
Abi na them inport pump action? |
Politics › Re: Fayose To March With Tuface, Others In Nationwide Protest. by DaudaAbu(m): 7:00am On Feb 01, 2017 |
Is that the good leadership he can provide for his people?
Has his state fared a lil bit better? |
Crime › Hunter Shoots Wife, Mother-in-law, Pastor Over Land by DaudaAbu(op): 8:01am On Jan 31, 2017 |
A hunter at Iwewe-Ichama community in the Okpokwu Local Government Area of Benue State, Jerome Adoko, has been arrested by the police for allegedly shooting his wife, Regina Adoko, his mother-in-law, Esther Edoga, and a pastor, Eze Udoh.
It was learnt that the pastor died from injuries he sustained from the gunshots, while the two other victims were still undergoing treatment in a hospital.
PUNCH Metro gathered that the suspect and his wife had been at loggerheads over the ownership of a parcel of land in the community, while efforts by their relatives to settle the dispute had hit a brick wall.
Jerome was said to have claimed that he owned the land while the wife insisted that they jointly raised fund to buy it.
It was said that both parties had maintained an uneasy silence until last Thursday when Jerome accused his wife of cutting up and cooking an animal he hunted in the bush without his permission.
A relative, who spoke on condition of anonymity, said Jerome cashed in on the Thursday’s altercation to attack his wife over the land, adding that the pastor wanted to make peace when he was hit by stray bullets.
He said, “Jerome and his wife have an issue over a parcel of land and families of both parties have been trying to sort it out. But he insisted that the land belonged to him.
“That day, he said his wife cut up and cooked an animal without seeking his consent. He confronted the wife, which led to exchange of words between them. The mother-in-law, who was on a visit to their house, tried to calm them down but to no avail.
“He went into his room and brought out a gun he used for hunting. The mother-in-law raised the alarm. The pastor and other neighbours came out to stop himHe wanted to shoot his wife, but the pastor and the mother-in-law were also hit. The pastor later died, while the wife and her mother are still in the hospital.”
A source disclosed to PUNCH Metro that Jerome said he had planned to sell the animal to raise some money.
“But nobody believed that claim. We think he actually used the animal as an excuse to pounce on his wife. He wanted to kill her. Some youths beat him to a pulp before the police came to rescue him,” the source added.
The Benue State Police Public Relations Officer, ASP Moses Yamu, who confirmed the incident, said the suspect was being detained at the State Criminal Investigation and Intelligence Department.
Moses said, “He was almost beaten to death by a mob before the police intervened and rescued him. He is in our custody undergoing interrogation.
“According to the report we have, he was quarreling with his wife, Regina Adoko, over a parcel of land. He fatally shot one Eze Udoh (the pastor) and wounded one Esther Edoga (the mother-in-law) and his wife. He will be charged to court after investigation.” http://punchng.com/hunter-shoots-wife-mother-law-pastor-land/ |
Politics › Re: Five Oil Firms Implicated In Diezanis $153 Million Scandal by DaudaAbu(op): 7:38am On Jan 31, 2017 |
Kondomatic: Nothing lasts forever, APC propaganda is now useless. Propaganda or not If there is $153million, i feel like claiming it |
Phones › Re: Whatsapp To Introduce ‘live Location Tracking’ In Real Time by DaudaAbu(m): 7:31am On Jan 31, 2017 |
Ohh boy |
Business › Re: Keystone Bank, MD In Trouble Over N4bn Illegal Transaction by DaudaAbu(m): 7:30am On Jan 31, 2017 |
He redused to settle them
Now go and settle with EFCC |
Politics › Re: Five Oil Firms Implicated In Diezanis $153 Million Scandal by DaudaAbu(op): 7:16am On Jan 31, 2017 |
But irrespective of the source, the EFCC had uncovered the slush funds and none of the oil firms’ chiefs has come out to claim it. They are even distancing themselves from the money. They prefer to forfeit the money than being brought to justice.” Ohh boy shey i no fit go claim this money? With a very good lawyer that is |
Politics › Five Oil Firms Implicated In Diezanis $153 Million Scandal by DaudaAbu(op): 7:09am On Jan 31, 2017 |
Five oil companies have been linked with the $153million seized from former Minister of Petroleum Resources Mrs. Diezani Alison-Madueke, The Nation learnt yesterday. The chief executives of the oil firms are believed to have gone underground to evade arrest, prompting investigators to believe that they may have opted to forfeit the cash. But the source of the cash sparked a row last night following claims by a suspect that the $153million was sourced by the former minister from the five oil firms and not the accounts of the Nigerian National Petroleum Corporation (NNPC). The suspect said the $153million was another tranche of funds mobilised under the table by Mrs Alison-Madueke from oil companies for the re-election of ex-President Goodluck Jonathan. The board of NNPC is likely to meet in Abuja to get “a full briefing” on the cash scandal. Justice Muslim Hassan of the Lagos Division of the Federal High Court on January 6 ordered the seizure of the cash which, according to the Economic and Financial Crimes Commission(EFCC), was stolen from the NNPC’s accounts and stashed in some banks. The oil companies whose identities remain unknown “so as not to jeopardise the investigation were allegedly involved in how the funds were wired in exchange for some concessions. “It is however indisputable that the oil companies collaborated with Diezani and acted on her instructions to haul the cash to one of the banks which distributed it to others,” a source close to the investigation said. “ EFCC detectives have succeeded in cracking how the funds were channeled and distributed. “Detectives are on the trail of the chief executives of the five companies. One of them was allegedly traced to London and we are expecting his arrest anytime from now. The EFCC and UK authorities have closed in on one of the oil chiefs in London,” the source said, pleading not to be named because he is not permitted to talk to the media. On the source of the $153million, one of the suspects said came from the oil firms’ chiefs and not the NNPC accounts. Another source said: “The suspect said only the oil chiefs could explain where they got the $153million. “The suspect insisted that the cash was not from NNPC’s accounts. The suspect said this was why the ex-minister had the audacity to raise some posers for EFCC on the cash. “But irrespective of the source, the EFCC had uncovered the slush funds and none of the oil firms’ chiefs has come out to claim it. They are even distancing themselves from the money. They prefer to forfeit the money than being brought to justice.” Mrs Alison- Madueke last Saturday faulted EFCC’s findings that the $153million was stolen from NNPC’s account( s). In a statement from London, she said: “In the face of the obvious falsification of facts and misinformation, it is only right and proper that the EFCC should publish the details of the $153.3million lodgments, the bank account numbers and the account beneficiaries, showing proof of my link to them. “Having also alleged that the said $153.3million was ‘wired’ from NNPC, the EFCC should also publish details of the NNPC accounts from where the said $153.3 million was taken from, with proof that I authorised such a transaction/transactions acting either in my private capacity or, as The Honourable Minister of Petroleum. “Let me state for the record that as Minister of Petroleum, the operation and management of NNPC finances were outside my purview as outlined in both the Petroleum Act and the NNPC Act. “The only involvement I had in NNPC finances was in terms of statutory matters, where the Petroleum Act prescribed that as minister, there were certain duties or actions which http://thenationonlineng.net/five-oil-firms-implicated-diezanis-153m-scandal/ |
Politics › Re: How Jonathan, Wike Blocked Rivers State From Taking Delivery Of Two Helicopters by DaudaAbu(m): 7:18am On Jan 30, 2017 |
See their lives? |
Politics › Re: National Assembly To Create 25 New Agencies by DaudaAbu(m): 7:16am On Jan 30, 2017 |
Let my people get work. |
Car Talk › Re: Which Cars Are The Most Affordable In Nigeria? by DaudaAbu(m): 6:51am On Jan 30, 2017 |
Mayb hyundai i-30 |
Politics › Re: Wasted Tricycles Bought By Atiku Bagudu As Constituency Project Contribution by DaudaAbu(m): 10:44pm On Jan 29, 2017 |
Can the poster pls share this info with BudgIT?
Some might be saying its his money but, i make bold to say its not his money.
Probably constituency project is what this is supposed to be |
Politics › Re: Nigeria's megawahala by DaudaAbu(m): 1:20pm On Jan 29, 2017*. Modified: 2:16pm On Jan 29, 2017 |
ohh ok All the foreign Phds and professors we've been having should come up with a solution. And i am sure its not going to be hydro or gas turbines. It need to coal plants or nuclear plants. Check those countries again and you'll find out they all have nuclear capability. The minister some choose to call clueless has said it already see below The Minister of Finance, Mrs Kemi Adeosun, has accused western powers of being a stumbling block to Nigeria’s plan to improve power output through the use of coal. Adeosun said this on Wednesday in Washington during a discussion on the importance of addressing infrastructure gaps in developing countries at the World Bank, International Monetary Fund General Meetings.
She said that improving power supply was the corner stone of the current administration’s goal towards economic development, yet finding it difficult to get support from western community. “We want to build a coal power plant because we are a country blessed with coal, yet we have power problem. So it doesn’t take a genius to workout that it will make sense to build a coal power plant. http://www.vanguardngr.com/2016/10/western-powers-blocking-nigerias-power-solution-adeosun/Whereas some ministers of power were not able to suggest a way forward instead to choose to sale nepa to themselves |
Politics › Nigerian Customs Impound 2 Helicopters, hand them over to Airforce by DaudaAbu(op): 8:44pm On Jan 27, 2017*. Modified: 9:05pm On Jan 27, 2017 |
Nigeria Customs Service (NCS) on Friday said it had intercepted two helicopters and 23 consignments of accessories illegally imported into the country.
Mr Dan Ugo, a Deputy Comptroller-General of Customs, told newsmen in Lagos that the two helicopters and accessories, valued at N9.7 billion, were impounded at the Murtala Muhammad International Airport.
“The consignment was detained at SAHCOL cargo shed. Upon examination, the consignment was found to contain two civil models of Bell Helicopters 412 EP, with serial numbers 36608 and 36606.
“The consignment also contains 23 packages of accessories, weighing 11,475kg,” the customs boss said.
He said that the two helicopters and other accessories were seized because the importer could not provide End User Certificate from the office of the National Security Adviser (NSA).
Ugo said that the importer had contravened Section 36 (2) of Customs and Excise Management Act (CEMA), Law of the Federal Republic of Nigeria, 2004.
According to him, the consignment, which was impounded on Nov. 7, 2016, had a Duty Paid Value of N9, 757,135,240.86.
“This equipment was seized because the importer contravened the Customs Act.
“The Comptroller General of Customs, Retired Col. Hameed Ali, in appreciation of the roles of Air Force has directed that the equipment should be handed over to the Nigerian Air Force.
“When we make seizures, we go through legal process by approaching the court of competent jurisdiction to file for condemnation and forfeiture to the Federal Government of Nigeria, which had been done.
“This falls within the purview of the Nigerian Air Force which will put it to use maximally to protect us as a nation,’’ Ugo said.
He called for continuous synergy between the customs and other government agencies for the safety and security of the nation.
Ugo commended the customs officers who made the seizure and assured them of continued moral support from the customs service.
Air Commodore Hyacinth Eze received the consignment on behalf of the Chief of Air Staff, Air Marshal Sadiq Abubakar.
Eze commended the Customs for a job well-done.
“The handing over of these helicopters by Nigerian Customs would go a long way to assist the force,’’ he said.
Eze said that the actual physical examination of the consignment would be done at Nigerian Air Force Base.
Also speaking, the Customs Area Controller (CAC), MMIA command Comptroller Frank Allanah, said that the command generated N55.5 billion between January and December 2016, compared to N42.7 billion collected in the corresponding period of 2015.
Allanah said that the N12.8 billion increase in revenue was recorded in spite of decline in cargo throughput from 76.9 metric tonnes in 2015 to 64.63 metric tonnes in 2016.
He said that the command, in 2016, also made seizures of elephant tusks and foreign currencies. http://www.nan.ng/news/nigerian-customs-impounds-2-helicopters/
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Politics › Re: Dino Melaye, Kogi APC Chairman, Excos Gang Up Against Yahaya Bello (Pics) by DaudaAbu(m): 4:29pm On Jan 27, 2017 |
why would civil servants smile?
When most of them are collecting salary frm 2 to 3 places.
Is that hw they want to continue? |
Business › Re: Nigerians Withdraw N4.7 Trillion From Atms In 2016 by DaudaAbu(op): 8:50am On Jan 27, 2017 |
DaudaAbu: http://www.vanguardngr.com/2017/01/nigerians-withdraw-n4-7-trillion-atms-2016/ cummando: And them say recession dey
What were they withdrawing? Their sins and sorrows? Nigeria I hail My thoight too exactly. We are busy shouting recession yet we are spending money up and down And to think that its just 14 -15 % of our population, 26million customers that hav enrolled in the BVN that made this withdrawals while 26 million bank customers have been enrolled for Biometric Verification Numbers (BVN). |
Business › Re: Nigerians Withdraw N4.7 Trillion From Atms In 2016 by DaudaAbu(op): 8:48am On Jan 27, 2017 |
Smallville10: I no near atm throughout last year. I swear, so who withdraw that amount dont worry yaself. I help you withdraw |
Politics › Re: Ohaneze Seeks Judicial Inquiry On The Killing Of Ipob Protesters by DaudaAbu(op): 8:43am On Jan 27, 2017 |
Ipob too should seek other ways of doing things |
Business › Re: Five Banks Dominate Cbn’s $1.1b Forex Disbursements by DaudaAbu(m): 7:45am On Jan 27, 2017 |
And the customee that bought most of the dollar is...
Is.......
Dangote |
Business › Nigerians Withdraw N4.7 Trillion From Atms In 2016 by DaudaAbu(op): 7:30am On Jan 27, 2017 |
THE value of cash withdrawals through Automatic Teller Machines (ATMs) rose sharply to N4.7 trillion in 2016, indicating increasing appetite for cash transactions among Nigerians.
This was disclosed by the Nigeria Interbank Settlement System (NIBSS) in its electronic payment factsheet for 2016.
NIBSS disclosed that the banking industry has 61 million active bank customers and 65 million active bank accounts. It also revealed that there are 25 million current accounts, 69 million savings account, six million corporate accounts and 84 million individual accounts, while 26 million bank customers have been enrolled for Biometric Verification Numbers (BVN).
Volume of ATM withdrawals
The report shows that value of ATM cash withdrawals rose by 22.5 percent to N4.7 trillion from N3.97 trillion in 2015. The volume or number of ATM withdrawals also rose sharply by 39 percent to 607 million from 434 million in 2015.
According to the president Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka, the sharp increase in value and volume of ATM withdrawals implies that: “Nigeria is still a cash-driven society. People are spending from their savings since there is no business and salaries are being owed. It is bad for the economy as investible fund is being depleted.”
The NIBSS report also revealed that Nigerians spent N132.36 billion through the internet in 14 million transactions.
Also bank customers made 63.7 million transactions worth N759 billion through point of sale (PoS), while 47 million mobile payment transactions worth N756 billion were conducted through the 21 licensed mobile payment operators. The report showed that bank customers issued N11.7 million cheques in 2016 valued at N5.8 trillion naira.
Bank customers also made 154 million instant transfers valued at N38 trillion using the NIBSS Instant Payment platform. On the other hand, the volume and value of interbank transfers (bank to bank), through NIBSS stood at 25 million and N12 trillion. http://www.vanguardngr.com/2017/01/nigerians-withdraw-n4-7-trillion-atms-2016/ |
Politics › Re: Senate To SGF; Defend Yourself Or Resignl by DaudaAbu(op): 7:24am On Jan 27, 2017 |
refreshrate: You're still asking? Yes. Still asking And the answer is......? |