₦airaland Forum

l'm not surprise, when Yoruba youths and elders celebrate, adore and worship world most highest Jumbo marijuana smoker Fela Kuti, Yoruba youths and elites placed the junkie, dopehead, hophead as their role model, even Lagos state government in collaboration with his family rebuilt his shrine, what will the youths learn going there?

Why Awolowo committed suicide: The sordid details of the betrayal of Awolowo

Only a few are privy to this fact that Chief Obafemi Awolowo, the erstwhile Premier of Western Nigeria, committed suicide. Awolowo, renowned for bringing tribal politics into the geographic space known as Nigeria, committed the heinous crime after he was secretly indicted by former Nigerian military Head of State, General Ibrahim Babangida, for plotting to overthrow his regime.

Below is a complete dossier on the events that led to his ignominious exit.


THE BEGINNING - MAKING OF AWO WHO WOULD DIE IN SHAME:-

Many years after he suddenly was reported dead of natural cause and few years after his golden jubilee, facts are now emerging on the reasons that led to First and Second Republic political heavyweight, Late Chief Obafemi Awolowo committing suicide.

It was learned that he did it to stem the tide of a possible military court martial into an insurrection he was planning to lead alongside his political associates at the time when it became evident that then Military President, General Ibrahim Babangida was intending staying in power forever.

CONFESSIONS FROM AWO's ASSOCIATE:

In a no-hold barred interview with FS Online recentl, a grass root politician ,Mr Adebayo Adeyinka who lives within the College Road at Ifako-Ijaiye axis in Ogba ,a suburb of Lagos, Nigeria was livid with rage when he learned that a key politician connected to the issue was denying the incident.

He revealed that Chief Awolowo wanted to lead some kind of guerilla warfare or militant campaign against the government of President Babangida so that he can be overthrown through a popular or people -led putsch.

According to him , the Elder Statesman summoned a meeting of his core loyalists over the issue and this was even filmed so as to strengthen the extent of commitment of each of the politician that attended the meeting,

He pointed out that however unknown to all of those who were privy to this meeting and clarion call , Chief Lateef Kayode Jakande ,Former Executive Governor of Lagos State had a different plan as he betrayed them to the military.

THE BETRAYAL OF Awolowo WHO BETRAYED BIAFRANS BY Lateef Jakande.

He Said:’ But unknown to them , Chief Jakande was planning to betray them, he went to President Ibrahim Babangida and promptly showed him the tape

“Papa Awolowo was invited for a meeting with President Ibrahim Babangida who was then staying at Dodan Barracks which was the seat of power as at then and the truth of his clandestine meetings was revealed to him by the gap –toothed

IBB’s OPTIONs TO AWOLOWO AND HE CHOOSING THE N20 RAT POISON SHAMEFUL OPTION:-

“He gave Papa some options and that was for him to be ready to face a court martial , be ready to go to a prison or better still go on exile

“At this stage Papa felt instead of allowing some ambitious khaki boy to mess him up he should just pack it in and call it a day ,so Chief Awolowo decide to commit suicide so as to save himself from the ignominy of going to prison for the second time in his lifetime.

“But before he did this he called his core loyalists for a meeting ,before then he had called up Late Chief Bola Ige [Cicero],since the latter had a very strong understanding of the Hausa Language having had his formative years as a young man in Kaduna but discovered that the late Esa-Oke strongman was innocent after he was interrogated by Papa

“He called others for enquiries while asking them to tender the video cassettes of the meeting they all attended to discuss the plans to topple President Babangida for examination ,at this juncture Chief Jakande developed a cold feet as he could not produce his own copy of the video which was freely distributed to all that was present at the meeting previously before the betrayal and that was how the cat was let out of the bag.

“So he cursed him at this point and pointed out that he will never have any form of relevance politically as far as Nigeria was concerned and till today members of the Awolowo Dynasty avoids him like a plague.

“I was there when the letter he wrote to the family to beg them for forgiveness over the unfortunate incident was read in the presence of all present ,if he continues to deny I am ready to confront him publicly again on the same issue as I can even remember that elders asked him to go to the grave of the late sage to plead for forgiveness.

“When he was questioned he lied that the National Security Organization now State Security Services had visited his house to check on him and in the process took the tape in question but” Awoists” knew that this was a very weak argument as he did not inform their political group of this development before their enquiry on the subject.

“That was how Senator Abraham Adesanya assumed the leadership of the Awolowo camp of Yoruba politics after the demise of the man ,he was not even so close to Awolowo during his lifetime like Chief Jakande and that was why many called him Baba Kekere on account of this cosy relationship

IRONY OF AWO PAYING BIAFRANS 20 POUNDS AND DIEING COURTESY OF 20 NAIRA RAT POISON:-
“Before he gave up the ghost, he said his prayers and then took the poison which killed him almost immediately but the public was not fully aware as they were given a different account of what happened.

“We were simply told that he died while he was brushing his teeth in his bathroom at his Park Lane,Apapa residence here in Lagos

EXPOSING HOW MUCH THIEF AWOLOWO STOLE FROM BIAFRANS AND ni.GERia

(1) He was stupendously wealthy during his lifetime, infact there is NO company at Oba Akran in Ikeja ,Lagos where he does not have at least a five percent equity, Dideolu Court in Ogba alone cannot be valued at less than N10 Billion ,that was the place that he had in mind to be his Seat of power if he was elected as Nigeria’s President.

(2) He owned Shonibare Estate but the man he was using as a front and who later went to prison over some issues which Awolowo himself was privy to eventually laid claim to the estate.

“He got all of this wealth due to a great measure of goodwill and tax waivers he gave to investors whenever they come to establish their business.

(3) Anytime you buy a bottle of Coca-Cola you are enriching the Awolowo Dynasty,

(4) Go to Ijebu Ikenne and you will discover that the price of bag cement there is different from other parts of the nation due to the subsidy that the citizens enjoy on account of Awolowo who was their son and I hope you know that West African Portland Cement is in Ewekoro and not Ikenne.

(5) He listed such blue chips like Dunlop Nigeria Plc,

(i) Guinness Nigeria Plc.

(ii) Neimeth Pharmaceutical Nigeria Plc.

(iii) May and Baker Nigeria Plc.

(iv) Vitafoam Nigeria Plc.

(v) Wahum Nigeria Limited .

(vi) CAP Nigeria Plc.

(vii) International Paints of West Africa [IPWA].

(viii) Berger Paints Nigeria Plc.

(ix) Berec Nigeria Limited. ,

(x)Kabelmetal, Nigeria Bottling Company Plc

(xi) Leventis Nigera Plc.,

(xii)West African Portland Cement Company,[Lafarge ].

(xiii)Wema Bank Nigeria Plc.

(xiv) Scoa Nigeria Plc.

(xv) CFAO Nigeria Plc.

(xvi) Cadbury Nigeria Plc.

(xvii)Wemaboard Estates, Odu’A Group.

(xviii) Livestock Feeds Nigeria Plc.

(xix) Nigerian Breweries Plc as places the Awolowo family have commercial interest to mention just a few.

(6) Apart from this stocks analysts believe that the most visible of his investment ,The Nigerian Tribune Newspapers cannot be valued at less than N100billion today in terms of brand evaluation as Thisday Newspapers was valued by the Owner ,.Mr Nduka Obaigbena at N200 Billion recently during a media chart while celebrating his fiftieth birthday sometimes last year.

I

Wonder Cave

The gigantic cave and waterfall in Owerre-Ezukala community has become a tourist centre in Anambra state
By Okechukwu Obenta, Awka
In no distant time, Ogbunike, the ancestral home of the former Senate President, the late Rt.Hon. Dr Chuba
Okadigbo, might cease to be Anambra state’s greatest tourist site. This follows the recent discovery of a gigantic cave and waterfall in Owerre-Ezukala located in Orumba South Local Government Area of the state. The community is partly the state’s boundary with Enugu state and on another side, bounds the state with Abia state.
Ben Nwankwo, member, representing Orumba North and Orumba South Federal Constituency was visibly flabbergasted when he visited the site of the cave and waterfall recently. Other tourist sites he visited were Umuogem-Ufum waterfall in Ufuma community and Ogbunka
Of the three waterfall sites, only Owerre-Ezukala waterfall has a cave located around it. But of the three tourist sites, the most gigantic is the Owerre-Ezukala cave and waterfall.
Nwankwo was accompanied on the visit by some top officials of the Government and United Nations International Development Organisation (UNIDO). The officials were, Dr. Ayodele Afolabi Esan from Regional Centre for Small Hydro-Power in Africa based in Abuja, George Ufot, a Director in the Federal Ministry of Tourism and Culture, O. Osusanya, Director and Head of Department of Performing Arts of the National Council for Arts and Culture, as well as officials of National Tourism Development Corporation (NTDC) and National Gallery of Arts. Just like the federal lawmaker, these officials were visibly enthused at the astounding beauty of nature as expounded in the cave and waterfall domiciled in Owerre-Ezukala.
The people of the area had been locked in a bitter communal clash with their neighbouring Ogbunka community, a matter that had cost several thousands of Naira in terms of payment of litigation fees as well as several man-hour they have been wasting in following up the case at the state High court in Ekwulobia. Nwankwo was disappointed that rather than directing their energy and resources towards developing their commonwealth which nature freely bestowed on them, they chose to entangle themselves on wasteful ventures. Speaking at a reception organised by the people of the community in his honour, he said that the reason he had invited the officials who accompanied him was to see if the situation at the various sites could be improved and used to generate electricity in the case of the water falls.
He explained that development of the tourist centres in particular would take active involvement of four sectors, namely: the community where they are domiciled which the people according to him are expected to provide the enabling environment like being polite to visitors, provide initial access roads to the sites and shout as loud as to attract attention; the state government that is expected to provide access road to the centres; the private sector that is expected to develop the area into a tourist centre like building hotels where tourists would relax and enjoy the wonders of nature; the Federal Government that will come in to play its own part and place it in the national heritage centre and world heritage centre, and the NTDC to build a film/ cultural village.
“When I was told there is a waterfall and a cave, I took it as one of those fairy tales that abound in the villages. I have not been here before, but today when I got there and entered the cave and came out, I bent down, took some water from the waterfall and blessed myself. I poured the water all over my body including the white dress I wore and I was praying in my mind saying may God bless this community”, he remarked.
UNIDO official, Esan, described the various waterfalls as natural endowments and potential good hydro-power generating sites. However, reacting specifically to the Owerre – Ezukala waterfall, Esan, stated: “The sound of the flow rate itself is natural and convincing. The reality is no longer questionable because if we look below we can get about four metres. That depth flow can generate substantial power. The next step Hon. Nwankwo insisted, is to get us commissioned to do feasibility so we tell you what potential can be generated from these waterfalls.”
one of these days I'll visit our tourist sites.

According to UN reports on MDG 2014
Literacy Among Young Women Aged 15-24

Sectorally, the survey showed that there were more literate youth women (85.3%)
in the urban as against the 57.8% recorded in the rural areas. In the zones the
literate youth women in the South East (93.5%) were much higher than the rest of
the zones. North East (33.0%) and North West (35%) had the lowest percentage of
literate youth women in 2014.

ACHIEVE UNIVERSAL PRIMARY EDUCATION
Civilization and Development are intertwined. Both of them leverage very much on
education. Education is a weapon for liberation from ignorance and diseases. Hence,
it cannot be isolated from any development agenda as it is the pivot upon which
several other programs rotate. Although the emphasis is on achieving primary
education, but it has to be realized that to sustain progress towards other goals such
as full employment, poverty reduction, health related programs, etc, attention
should be extended beyond primary education.

Target 2A: Ensure that, by 2015, children everywhere, boys and girls alike,
will be able to complete a full course of primary schooling.
Indicator 2.1: Net enrolment in primary education.
At the inception of the MDGs, countries were advised to domesticate the indicators
to suit their experience. Thus, each country had the privilege of identifying the
indicators whose content and estimation procedure were either not applicable to
them or completely out of context. In Nigeria, the computation of the primary school
net enrolment ratio has faced some challenges because it involves a complete
census of both private and public primary schools. Consequent upon this, the net
attendance ratio estimated from household survey is adopted as a proxy in this
report.
In 2014, fig. 2.1 below shows the net attendance ratio according to their distribution
by state. The states with very high attendance ratios included. Anambra (94%),
Delta (92.cool, Imo (90.7), Lagos (92), Ondo (92.4), Osun (91.6), Edo (91.0), Ekiti
(93.6) and FTC (94.1) while the least were Bauchi (29.9), Sokoto (24.cool, Yobe (23.7),
Zamfara (37.cool.

At the national level, the net attendance ratio was 61% in 2008 and it increased to
71% in 2012. In 2014, there was a shortfall of 2.3% and the net attendance for 2014
thus dropped to 68.7%. When classified by sectors, net attendance in the urban
(84.3%) was much higher than in the rural areas (62.2%). Across the geopolitical
zones, it was very encouraging in the South East (90.5%), South South (88.1%),
South West (87%) and North Central (80.2%). But in the North West (50.5%) and
particularly North East (42.5%) net attendance was not impressive. Although one
hundred per cent enrolment and attendance are expected of children within this
cohort, the achievement within the sub regions shows that Nigeria is on track of
meeting the target.
Completion rate is very important in Primary School education as it marks the
beginning of transition to secondary school. Children often enroll without attending
due to one challenge or the other. Those of them who eventually commence
attending may withdraw or drop out without completing. This underpins the
education indicator defined as ‘Proportion of pupils starting grade one and reaching
final grade’. Final grade in this context is the completion grade.
Nationally completion rate according to fig. 2.2 in 2004 was 82%. It increased to
87.7% in 2012 and dropped to 74.0 in 2014. Within the 2014, the completion rate
was higher in the urban (84.4%) when compared with the rural (69.7). In the zones,
completion rate was highest in South East (98.7%) zone, followed by South West
(94.1%). Primary six completion rate was poorest in the North East (49.5%) zone.
Nigeria is also on track.
www.nigerianstat.gov.ng/pages/download

OBAFEMIawolowo:
1.Anambra

2. Delta

3. Imo

4. Lagos

5. Ondo

6. Osun

7. Ekiti

8. Abia

9. Enugu

10. Edo

corrected from national bureau of statistics. 2015 MDG reports

forgiveness:
Lagos
Anambra
Rivers
Abia
Ogun
FCT

in that particular order.

You are here again

[

forgiveness:
You wan do ojoro for here o..by bringing up state and not city.


Anambra is a State and not a CITY while Ibadan is a city and not a STATE.

Pls, don't digress from the topic. lets compare CITIES TO CITIES
]

Your reply just exposed you sorry for quoting you

forgiveness:
It's not about states being economically viable but it's about cities
being economical viable. i.e Ibadan vs Nnewi or Nnewi vs Onitsha. So, if we go by cities, forget it, Ibadan surpass Aba, Nnewi and Onitsha when it comes to a city been economically viable.

Is it in terms of Medical tourism, Infractuctures and quality Education, Hospitality, Service economic, Agriculture, Manufacturing, Real Estate business, e.t.c Ibadan surpase those cities.

Open thread let slog it out, support your claims with pictures and crediable data I'm not here for southwest propaganda, we are not mate, we represent all sectors: Industries, international markets, we are leading in education in Nigeria, Agriculture we are one of the leading states in rice production, cassava, yam, potato, we leading in health sector according to MDG report, Oil/gas Anambra own oil/gas company Orient is producing 3000bpd in Anambra basin, home of nollywood industry,state with highest number of billionaires in Nigeria, in tourism sector we host world heritage site (Ogbunike cave), Agulu lake, Igbokwu museum, Owerre Ezukalla waterfall etc, leading state in Transport companies and haulage, real estate we are leading in Nigeria. My friend go and find your mate

forgiveness:
I guess on Nairaland.

I like to be challenged, I don't mind let open thread and face it out with pictures in all ramification. Although it will be an insult to Anambrians, pictures cure ignorance very fast

Abia and Oyo are not mate talk more of Anambra state, you should be challenging Enugu, Enugu boasts of multinational and indigenous industries with international airport and modem infrastructures. Anambra and Abia are not Oyo mate Isi Aki

You can go through this page just to view one out of many industrial layouts in Anambra state
https://www.nairaland.com/1930337/anambra-state-light-nationeconomic-political/323

WIZGUY69:

Onitsha Market



Onitsha Market is one of the largest markets in West Africa.[1] It is governed by one of the most revered traders associations in Nigeria, the Onitsha Market Traders Association (OMATA). Most of the major import merchants from Eastern Nigeria have their head offices within the market. The average traders in the area are known to bring in at least six consignments of 40 tonnes (40-feet containers) of goods annually. Some of the major importers do more than 20 consignments of 40 tonnes of goods per year. These include jewelry, clothing, household, industrial and office equipment.

It is bounded by the River Niger to the West and Fegge through Osumaru Road from the East. The market is secured by the Onitsha Main Market Vigilante Services working under the auspices of the Nigeria Police Force. The market can rightfully be described as the commercial power house of West Africa. It is massively patronized by merchants in the ECOWAS sub-region including Accra, Abidjan, Douala, Niamey and Cotonou to mention a few
https://en.m.wikipedia.org/wiki/Onitsha_Market

The Central Bank of Nigeria (CBN) has introduced a new policy on cash-based transactions which stipulates a ‘cash handling charge’ on daily cash withdrawals that exceed N500,000 for Individuals and N3,000,000 for Corporate bodies. The new policy on cash-based transactions (withdrawals) in banks, aims at reducing (NOT ELIMINATING) the amount of physical cash (coins and notes) circulating in the economy, and encouraging more electronic-based transactions (payments for goods, services, transfers, etc.)



Why the Cash Policy?


The new cash policy was introduced for a number of key reasons, including:

1.To drive development and modernization of our payment system in line with Nigeria’s vision 2020 goal of being amongst the top 20 economies by the year 2020. An efficient and modern payment system is positively correlated with economic development, and is a key enabler for economic growth.
2. To reduce the cost of banking services (including cost of credit) and drive financial inclusion by providing more efficient transaction options and greater reach.
3. To improve the effectiveness of monetary policy in managing inflation and driving economic growth.


In addition, the cash policy aims to curb some of the negative consequences associated with the high usage of physical cash in the economy, including:
•High cost of cash: There is a high cost of cash along the value chain - from the CBN & the banks, to corporations and traders; everyone bears the high costs associated with volume cash handling.
•High risk of using cash: Cash encourages robberies and other cash-related crimes. It also can lead to financial loss in the case of fire and flooding incidents.
•High subsidy: CBN analysis showed that only 10percent of daily banking transactions are above 150k, but the 10percent account for majority of the high value transactions. This suggests that the entire banking population subsidizes the costs that the tiny minority 10percent incur in terms of high cash usage.
•Informal Economy: High cash usage results in a lot of money outside the formal economy, thus limiting the effectiveness of monetary policy in managing inflation and encouraging economic growth.
•Inefficiency & Corruption: High cash usage enables corruption, leakages and money laundering, amongst other cash-related fraudulent activities.



Content of the Cash policy


The following aspects of the policy was applied from January 1st 2012 in Lagos State (“tagged Cash-less Lagos”):
•Only CIT licensed companies is allowed to provide cash pick-up services. Banks will cease cash in transit lodgment services rendered to merchant-customers in Lagos State from December 31st 2011. Any Bank that continues to offer cash in transit lodgment services to merchants shall be sanctioned.
•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.

The service charge took effect from March 30th, 2012, this gave people time to migrate to electronic channels and experience the infrastructure that has been put in place. Banks were to use this period as grace to encourage their customers to migrate to available electronic channels, and where possible, demonstrate the costs that will accrue to those that continue to transact high volumes of cash from March 30th, 2012 in Lagos State.

In addition, below are some detailed context and pertinent clarifications on the policy:
•Location ◦The pilot was run in Lagos State from January 2012 while the policy took effect in Rivers, Anambra, Abia, Kano, Ogun and the Federal Capital Territory (FCT) on the 1st July, 2013. The policy will be implemented nationwide on July 1st, 2014.

•Account Application ◦The cash-policy applies to all accounts with exception to Government revenue generation account, Primary Mortgage Institutions, Microfinance Banks and Embassies. Banks should therefore work with their corporate customers to arrange for suitable e-collection options.

•Limits ◦The limits are cumulative daily limits each for withdrawal(e.g. for Individuals, the daily free withdrawal limit is N500,000)
◦The limits apply to the account so far as it involves cash, irrespective of channel (e.g. over the counter, ATM, 3rd party cheques encashed over the counter, etc) in which cash is withdrawn (e.g. if an individual withdraws N450,000 over the counter, and N150,000 from the ATM on the same day, the total amount withdrawn by the customer is N600,000, and the service charge will apply on N100,000 - the amount above the daily free limit). The limit also applies to cash brought through CIT companies, as the CIT company only serves as a means of transportation.

•Charges ◦The charges started to apply from March 30th 2012 in Lagos, October 1st 2013 in Rivers, Abia, Anambra, Ogun, Kano and the FCT.
◦The service charge for daily withdrawals above the limit into an account shall be borne by the account holder.
◦Please note that the policy does not prohibit withdrawals above the stipulated amounts, but that such transactions will be subject to cash handling charges

http://www.cbn.gov.ng/cashless/

WIZGUY69:
shut up!
it can be the village with the highest number of high rise huts in alaibo.
but stop generalising please.
go to minna and ask any local that where's Onitsha or nnewi and he will just be looking at you like an alien.
but the locals sure know Ibadan as the largest city in W/AFRICA & Lagos as the commercial nerve of Nigeria.
what's your villages known for?

,

mikolo80:
thanks but...wondering why ibadan not on the list

Apex bank knows the states with highest volume of cash transactions in the country, this is not political list, Sanusi was in charge then, if it was political he would have added more northern states to the list,

mikolo80:
abeg you fit link me

Cashless Policy Kicks Off In Six States
The Central Bank of Nigeria (CBN) cashless

policy program on Monday kicked off in the Federal Capital Territory, Kano, Anambra, Abia, Rivers, and Ogun states.
despite the House of Representatives call last week that the CBN to implement the policy in phases and remove charges or limits on daily cumulative withdrawals and deposits to encourage small businesses.

owing to challenges, ranging from poor ICT infrastructure to network issues, the CBN says the project will focus on key commercial and urban centers of Onitsha, Kano, Port Harcourt, Abuja and Aba.

The cashless policy was introduced in Lagos in January 2012 with specific limits and charges for individuals or corporate organisations that want to withdraw or lodge cash above prescribed limits.

Under the policy, the CBN pegged the daily cumulative cash withdrawal or deposit limit for individual accounts at N500,000 per day and N3 million per day for corporate accounts.
http://www.channelstv.com/2013/07/01/cashless-policy-kicks-off-in-six-states/

forgiveness:
International markets?

Importers and exporters?

What America ecomony big is simply because they are producing nation and importing nation?

The question should have been, what are the things produced in Ibadan?

Read the person I quoted, the two eastern states listed by CBN boasts the highest number of indigenous industries, craftsmen with international markets Aba, Nnewi and Onitsha

fairheven:
Are u basin your statistics on foreign media instead of CBN stats ? Secondly are u talking about "cities or states?"
CBN had pioneer states for it "Cash-less" society monetary programme and states where chosen based on economic indicators Not based political consideration

And the states were in no particularly order-
Lagos
Rivers
Anambra
Kano
Abia
Ogun and FCT.
Any other thing is nothing but sentiment

corrected

GodMode:
The apex bank list is biased...

CBN Deputy Governor, Operations, Mr. Tunde Lemo, who disclosed this, said this was the reason why the above mentioned states were been slated for the second phase of the cash-less project billed to kick off on the July 1st.
If my memory serves me right the CBN governor then was Sanusi, not Soludo or Emefele. So

GodMode:
Stop believing what you read in newspapers...

If you read properly you'll notice clearly that they picked 2 states from the MAJORITY region and one from SS to make it seem like all the regions are working..

Oyo has been seriously mismanaged...

I would choose Lagos, Oyo, Ogun, Ondo, Bayelsa, Rivers, Calabar, Abia, Enugu..

very funny dude, pls remind me to send AY's number to you I should not believe what apex bank says, Probably osundefender is most crediable source.

django1:
Dude, you are talking about trading, its not the same thing as the economy of the city/state. What about the service sector or the agricultural sector? Dey dere dey jones.

Do you have any idea of the amount of money made from agro-processing and the agro-allied companies and farms to be found in Ibadan?

Do you think its for no reason farm goods are cheaper in Ibadan than anywhere else in the southern region?

Besides, Ibadan has very large markets too.

we are talking of international markets Mr. How many importers and exporters do you have in your mushroom market

GodMode:
You're trying to convince a tribal bigot about something he'll never admit...

Ibadan used to be best before Lagos was given a position by the colonial masters... The first tallest building in Nigeria then was built in ibadan..

The IGR been posted by oyo, ogun and lagos needs to be investigated especially Ogun... Cos that's where Dangote's companies are located and there are many manufacturing companies there..

Lagos, 6 other states control 90% of cash transactions in Nigeria – CBN

Finance Monday, May 27, 2013



advertisement



The Central Bank of Nigeria (CBN) has said that Lagos and six other states control about 90 per cent of cash transactions in the country. The other states are Rivers, Anambra, Abia, Kano, Ogun and the Federal Capital Territory (FCT).

CBN Deputy Governor, Operations, Mr. Tunde Lemo, who disclosed this, said this was the reason why the abovementioned states were been slated for the second phase of the cash-less project billed to kick off on the July 1st. Acknowledging that there have been and there are still challenges with the cashless project, he said most of them are being resolved.

He listed one of the major challenges to include interconnectivity in some of the clusters, which he said is being addressed.

Lemo said that besides the use of alternative channels of transactions such as Point of Sales (PoS), the cashless project would be driven through the telephone. Nigeria is second in number of mobile phone users in sub Saharan Africa after South Africa, which is also the largest economy in the region.

Lemo also said the cashless policy had been successful in Lagos, adding that the number of Point of Sale (PoS) machines in Lagos has increased significantly from about 5,000 when the policy took off last year, to over 150,000.

"We still have a few challenges, but if I look back, I really would say that we have done a lot to transform the payment system in Lagos through PoS," he said.

The cashless policy, whose implementation began in Lagos in January, last year, is aimed at reducing the dominance of cash in the system. The policy specifies penal charges for individuals and corporate organisations that want to withdraw or lodge cash above prescribed limits. Under the policy, the CBN pegged the daily cumulative cash withdrawal or deposit limit for individual accounts at N500,000 per day and N3 million per day for corporate accounts.

Just a week ago, the Chief Executive Officer, Electronic Payment Providers Association of Nigeria (E-PPAN), Mrs. Onajite Regha, said the coming on board on the next phase of the cash-less policy in July may raise the value of electronic funds transfer in the country to N160billion per day by the end of the year.

The E-PPAN boss, who spoke in Lagos, said the current value of electronic fund transfers - put at N80billion per day by the CBN, would most likely double because there would be a lot of changes, which would compel people to use e-Fund transfer channels.

The Nigeria Interbank Settlement System (NIBSS) is handling transactions worth about N20billon daily, while the Nigeria Electronic Funds Transfer is conducting about N60billion worth of transactions daily.

NIBSS provides the infrastructure for automated processing, settlement of payments and fund transfer instructions between banks, discount houses and card companies in Nigeria. It is owned equally by all licensed banks in Nigeria, and the CBN. Discount houses operating in Nigeria also hold substantial shares.
Oyo state is missing here

WIZGUY69:
still not impressed
no skyscrapers there

How many did your father built? You want to use city with three skyscrapers and highest shanties and compare it with state with highest numbers of highrises in Nigeria

Anambra state
Third in deposit mobilisation by CBN
most Indigenous industriel state
host the biggest markets Onitsha markets and Nnewi
Anambra State was ranked second in telecommunications disposable income and
Second commercial and microfinance banks branches in Nigeria,
least indebted state

Construction works have begun on the Anambra State Government and African Capital Alliance-sponsored Onitsha Mall and will be completed by the second quarter of 2015. According to the promoters, the project is motivated by the need to drive retail business in the eastern part of the country and the recent trends in retail market growth in Onitsha in particular. They added that there was a growing demand for modern retail outlets in an underserved market with a budding population of over 1.5 million people as well as the presence of oil and gas firms owing to the recent discovery of oil in the area. The investors said despite its growth, the city and its environs had no world-class retail centre. The representative of ACA, Mr. Obi Nwogugu, stated at the Onitsha Mall Retailers Forum held in Lagos recently the mall would attract private capital into Anambra State. Nwogugu said the mall would be anchored by popular South African retail outlet, Shoprite, with 52 inline shops, and would offer a serene shopping experience to retailers and customers. According to him, the Onitsha Mall will feature 12,100 square metres of net lettable space, 24 hours electricity and security, parking bays that can accommodate 500 vehicles, six local and international restaurants, central air conditioning, Automatic Teller Machine gallery and space for banks. “Anambra State was ranked second in telecommunications disposable income and highest in commercial and microfinance banks branches Nigeria, and attracted investment worth $120m from South African Breweries, which is currently planning to double its investment due to the success of the business,” Nwogugu explained. According to him, the Onitsha Mall is a development project sponsored by African Capital Alliance and the Anambra State Government, with Diamond Bank Plc as the debt financier. “In terms of safety of lives and property, the state has recently made significant investment in security equipment and personnel in the city, which has created an enabling environment for business to thrive,” he said. The Project Manager, Pro-M Limited, Mr. Chuka Okoye, said the construction work was being handled by Akiota Works Limited, which took over from the former contractor, Technics Construction Company. http://m.punchng.com/business/homes-property/anambra-aca-begin-construction-of-onitsha-mall/#sthash.MP0KlgTw.dpuf

Lagos
Onitsha
kano
PH
Aba
Ogun

laurel03:
I am not a yoruba boy but dt is jst d truth... Yeboo polluted everywhere... Like you now 80percent of your relatives are leaving outside the southeast...

80%? Sure I can see you reasons through your anus.