₦airaland Forum

Does anyone observe Nigerian banks are laying off more workers than was the case during the pre-Sanusi era, even when the global economy was worse than today?
You only need to google bank job lss in Nigeria in the past 2-3 years or so and compare to few years back

What is the CBN people not doing well, or what are they doing differently than in the past?
I am not an economist, neither am I a financial expert. Just a curious Nigeria cyber citizen wanting to know.

Below is one example of such bank job losses that have become rampant in recent times.

More bank workers to lose jobs to cheque truncation

Monday, August 27, 2012



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By CHIMA TITUS NWOKOJI

The era of mass job losses that has become part of the nation's banking industry since 2006 is yet to abate, as a new clearing technology introduced by the Central Bank of Nigeria (CBN), early this month, may push more bank workers into the labour market.

This time round, retrenchment axe is dangling over the head of clearing officers of deposit money banks, whose jobs seem threatened by the newly introduced cheque truncation regime. The scheme, which is part of the apex bank's initiative to further fast-track its Cashless Lagos initiative, was introduced specifically to reduce the clearing cycle of financial instruments in the Nigerian banking industry.

Daily Sun checks indicated that the new technology, which clears financial instruments electronically, marks an end to the traditional daily gathering of bank clearing workers at the Lagos clearing house. The technology, which also reduces financial instruments' clearing cycle to two days, may, when fully operational, take some critical jobs from the banking industry, considering that the scanning of the clearing instruments can now be handled by fewer hands, as opposed to the large contingent of workers in most banks' clearing departments.

Confirming fears of possible job losses as a result of the new clearing technology, Executive Director at the Nigeria Interbank Settlement System (NIBSS), Mr. 'Niyi Ajao, said banks' clearing officers no longer come to NIBSS to physically exchange cheques, as a result of the commencement of cheque truncation technology by the Central Bank and the clearing house. According to him: "Cheque truncation has started at the Lagos Bankers Clearing House. Banks' clearing officers no longer come to NIBSS office in Lagos for clearing,"

Ajao confirmed. A top banker in Lagos, who spoke to our correspondent, also agreed that banks now scan cheques and other paper instruments. By this, banks convert physical cheques into electronic form (scanned image) for transmission to the paying bank. In an era of stiff competition, observers believe that some banks, who are keen on reducing cost, may not hesitate to lay off workers considered surplus to requirement under the new regime.

At a recent presentation of an award by Forbes Magazine in Lagos, Governor of the Central Bank, Mallam Sanusi Lamido Sanusi, noted that although his reforms in the banking industry has led to job losses in some cases, people should also realize that as banking gets more and more reliant on technology, the industry is going to get fewer and fewer bank staff involvement per transaction.

This means in effect that the cheque truncation technology, which may be considered a boost to the cashless Lagos initiative, may indeed be counted as loss to some Deposit Money banks, which may be constrained by the new regime to restructure or further downsize staff, especially in the clearing departments. Under the new regime, financial instruments rather than the former three days, now clear in only two days, thereby encouraging customers to use alternative payment channels instead of cash.

The CBN had recently informed all banks and the general public that cheque truncation in Nigeria was to commence in August 10, 2012, and that the Lagos clearing area will serve as the pilot zone; stressing that as soon as possible, the scheme will be extended to other clearing zones across the country. In a Press release, signed by the Director, Corporate Communications, CBN, Ugochukwu A. Okoroafor, the apex bank stated that under cheque truncation regime, settlement of Cheques is obtained in two days after the cheque deposit date as opposed to the usual three days.

This it said, is applicable to all clearing paper instruments including dividend warrants and drafts. It further explained that the clearing cycle will reduce by 1 day, from the current T+2 to T+1, meaning that a customer that deposits a cheque on Monday will get value on Wednesday, as against Thursday under the pre-truncation clearing cycle. Under the new regime, there will be 3 clearing sessions daily. 1st session which will be for presentation of all clearing instruments while the 2nd session is for presentation of all clearing instruments except fresh Cheques. 3rd session takes care of return of dishonored clearing Instruments only.

While maximum limit for Cheques under cheque truncation will still be N10 million as currently obtainable, except CBN advises otherwise, fresh Cheques paid in will be sent for clearing the next day as only the 1st clearing session which ends by 8am is available for presentation of fresh cheque instruments.

The apex bank had further clarified that customers will have access to their physical instruments if dishonoured while a returned cheque can be represented for a maximum of three times in line with clearing rules. Earlier in an interview with Daily Sun, Ajao said it was part of NIBSS duty to continue to improve the overall clearing system by introducing the new technology called cheque truncation.

"Under cheque truncation, a cheque of First Bank that Fidelity Bank collects for instance, would be coming to NIBSS the following day, Fidelity Bank will scan the cheques back and front on dedicated machine right from their office. It will then convert the picture to electronic file, which is now sent through NIBSS to First Bank," he explained.

http://odili.net/news/source/2012/aug/27/504.html

This woman was mocking Ojukwu's death and we told her that her days are numbered. Now she is back to her village in Oluyole LGA in full disgrace. She is finished. Those Yoruba agberos go tear her anus finish when she dey jump molue.

tpia1: according to wiki, margaret ekpo's father was okoroafor obiasulor.

that name sounds igbo to me,unless there are calabar people of non-igbo origin bearing the same.

her mother was calabar.

however, what we dont know is if her dad was born/raised in calabar but of igbo ancestry.

someone can look into it and find out more about her ancestry, if its an issue or if you feel the wiki info isnt correct.

You are correct. Her father was an Igbo man from Anambra but married to an Ibibio woman. Magareth herself married from her mother's place, hence Ekpo.

http://nm.onlinenigeria.com/templates/?a=8858



Ekpo was born in 1914 in Creek Town in present day Cross River State to Okoroafor Obiasulor, a native of Agulu-Uzo-Igbo near Awka in Anambra State, and Inyang Eyo Aniemewue from the royal stock of King Eyo Honesty II of Creek Town. After obtaining her standard six certificate in 1934, she was unable to proceed further education due to her father's demise. She decided to take to teaching stint. During this time, she met her husband, John Udo Ekpo, a doctor. She consequently obtained a diploma in Domestic Economics in 1948 at the Rathmine School of Domestic Economics in Dublin Ireland, during the period her husband was taken there for medical attention. When the couple returned to Nigeria, Margaret Ekpo established a Domestic Science Institute where she trained young girls in dress making and home economics.

Her husband spurred her into activism. In 1945, her late husband, Dr. Ekpo, was unhappy about the discriminatory practices of the colonial administrators at the Aba General Hospital. Being a civil servant, he could not attend protest rallies against such practices, so he sent his wife.

Soon afterwards, members of a nascent political party, the National Council of Nigerian and Cameroon, NCNC, addressed a political rally in Aba, with Ekpo in attendance. After listening to fiery speeches by Herbert Macaulay, Nnamdi Azikiwe and Mazi Mbonu Ojike urging Nigerians to claim their independence from Great Britain, Ekpo was converted to the nationalist struggle. She was the only woman at the rally and many wondered why she was there when she should be at home, attending to her family. Undeterred, Ekpo trudged on with her late husband's support.

Through this, Ekpo was able to organise women into a formidable campaign team for NCNC. On the challenges of leading Nigerian women often described as not united, Ekpo said: "There were difficulties, no doubt. You will always have trouble makers who are out for their own selfish-interests; however, if the women know that you are truly working on their behalf, they will support you; they will cooperate with you."

Indeed, she enjoyed a good relationship with Flora Azikiwe and Olufunmilayo Ransome-Kuti. After reading about Ransome Kuti, an intrigued Ekpo traveled from Aba to Abeokuta to discuss the need for women's involvement in politics. Consequently, Ransome-Kuti accepted Ekpo's invitation to tour the South Eastern region to awaken their political consciousness.

Onyeka Onwenu, actress, musician writes about Ekpo this way: With grace of carriage, she stood her ground as an equal of men, representing women resolutely and with great dignity in multiple capacities."

In these multiple capacities, she succeeded in distinguishing herself. Ekpo was one of the three women appointed to the House of Chiefs, in the 1950s. She had earlier represented her constituency in the pre-independence constitutional conferences. She was a delegate to the several constitutional conferences. In addition, she was the Women's Interest Representative to the Eastern House of Chiefs, Nigeria between 1954 and 1958 and Member of the Eastern House of Chiefs, from 1948 to 1966.

Her efforts were appreciated. Her name graces the Calabar International Airport a refectory is also named after her at the University of Nigeria, Nsukka.

In Breaking Barriers, her biography, Ekpo likened her father to Okonkwo, the great warrior and wrestler in Things Fall Apart, the classic by Chinua Achebe. No wonder she was an Amazon.

passion007: Margaret Ekpo was from Calabar, one of the few women who were involved in the fight for Nig's independence and working out modalities regarding how the newly created nation should be run However, post-freedom, she adopted the city of Aba as her native home and settled there.There were other women like Janet Mokelu who were also involved. I think its a novel and worthy idea to honor these women and thank for them for their contributions to their fatherland.i

She is Igbo

Father is from Anambra
Mother is from Akwa Ibom
She was born in Calabar and married a Calabar man.

Donlittle: coming from the guy which one of our so called eastern governor slapped his wife
Nigeria makes me laugh man
funny nation, funny people

I see you need some education on the rotteness of Yoruba Obas

https://www.nairaland.com/948400/yoruba-obas-public-eye-how

UK Fights Abuse Of NHS By Yorubas

Yoruba Obas In Public Eye

https://www.nairaland.com/948400/yoruba-obas-public-eye-how

~Bluetooth:
The funny thing is that they were never kidnapped for ransome like ibo kings.Only God know what ibo kings may have done to warrant being kidnapped !

The kidnappers are Igbo riff-raffs, but your evil Obas are the light of the Yoruba race.

Bad Igbos boys are expected to behave badly, but your Obas, custodians of the Yoruba culture, are the ones behaving badly. Do you get the difference?

Can somebody tell this 58-year old, Igbo-Yoruba-Edo hybrid of a hag called Calloti to stop defacing ma thread

~Bluetooth:
You are just tripping here trying to wage an unnecessary war but you just failed.You keep shouting that the youths were wrong to demand for change.Tell me which is better between these youths clamouring for change of government from an absolute rule and another group of ibo youths that would rather kidnap their rulers ? You really need a brain transplant cuz you are losing it.

Yoruba traditional society is not like that ibo artificial egalitarian society.we have checks and balances in our political system !

Your Obas are truly rotten. It is either they are r/a/p/i/n/g girls, or fighting their wives in public, or stealing community money, or eating human flesh, or betraying their own as they did Abiola, or doing all of the above at the same time. I wonder how much of these behaviors did not rub off on ordinary Yoruba citizens.

I am not from Anambra but I believe the growth of Anambra is, by extension, the growth of Igboland.
If anything, at least many of the the Igbo boys (mainly from Anambra, by EFCC accounts) selling ''market'' and doing ''school time'' in Europe and Asia might be gainfully employed back home.

To nu Jehova.

Biafra spirit in Anambra oil…

Monday, August 27, 2012


Biafra spirit in Anambra oil…

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Uche Ezechukwu

If things go as planned - and there is no reason why they will not - the government and people of Anambra State will on Thursday, August 30th, host President Goodluck Jonathan to a one crowded day of commissioning activities in their state. It will be a proud and happy people, led by their unusual governor (as the late Dim Chukwuemeka Odumegwu-Ojukwu used to describe him) that would be marshalled out to welcome and watch the president as he inspects and commissions some solid projects which promise to touch on the socio-economic life of the people of the state and Nigeria, in very significant and practical ways.

The most significant object of the impending presidential visit would be the commissioning of the oil production activities in the Anambra basin. He will also commission some facilities that will have a tremendous impact on the socio-economic life of the people, as well as the over-all development of not just Anambra State, but other surrounding states and zones. For me therefore, that visit will be significant in three very concrete ways. First, the visit will formally usher the state into the privileged and hallowed portal of oil producing states, alongside states that have been enjoying a jumbo chunk of the nation's revenues that come mainly from oil resources.

The critical issue of welcoming the state into that exclusive lucrative club should be of a special significance that should not be lost on Nigerians, as it comes along with historical implications that far outweigh the event itself. It marks a watershed that is closely following the great honour which the president accorded Ndigbo with the rousing national burial that was given their departed hero and leader, earlier this year. With that funeral, the Igbo nation felt more fully integrated into the Nigerian family, even if only psychologically.

The official commissioning of oil activities next Thursday will make such a feeling more secure. And this is why: For several years, it has been established that huge deposits of petroleum and gas resources abound in the Omambala basin of Anambra state in commercial and exploitable quantities. Even as the Nigerian state rolled out drums in jubilation at every new discovery of petroleum deposits elsewhere else in the country, the Anambra discovery was somewhat different.

The federal authorities embargoed its exploitation and under a very bizarre and dubious pretext, claimed that it had placed the Anambra State oil under what it termed as 'strategic reserve', which euphemistically speaking, meant that it was off limits to the people who should benefit from it. Anambrarians would not have bothered had they been allowed to benefit, as an oil bearing state, and as the other states that are similarly endowed, have been doing in terms of enhanced revenue share. All efforts to reverse the vindictive situation fell on deaf ears of the successive military and civil authorities. It was, therefore, easy to see that it was a deliberate punitive policy against the people of the South East, who saw neither rhyme nor reason in the policy.

The 'whys' and the dynamics of that obnoxious policy would be discussed in my subsequent submissions in the very near future, as I would not want its discussion here and now, to divert me from the weighty matter at hand. For, even when Orient Petroleum Resources Plc was incorporated and expanded into a big and serious company which the people and government of the state massively bought into and obtained an operating licence to prospect for oil and build a refinery close to the site of the hydrocarbon deposits, Anambrarians were reminded of the obnoxious provision which was in place, and they knew that the crude they would refine would either be piped or ferried from the oil exploration sites in the Niger Delta, even as huge deposits were under their feet.

However, being a people of faith who understand that injustice can never persist forever, the OPR was never deterred but hoped that one day, a Daniel would come to judgement with a winnowing fan of justice and fair-play in his hands. That has happened with the coming of President Jonathan.

It goes without saying that if the OPR was able to commence exploration and exploitation of the petroleum resources from the hitherto so-called 'strategic reserve', it is obvious that someone who has the right to change the situation has done just that. So, when President Jonathan goes to Aguleri-Otu to commission the activities from the site from where prime and high quality sodium-free petroleum had already been extracted, it would mark a significant step in his transformational agenda and become a major plank of the fulfilment of his election promises to the people of the South East, to end the long-standing era of structured injustice foisted against them. It will also be a glowing tribute to the dogged determination and acumen of Governor Peter Obi of Anambra State, who has catalyzed the process and made all that possible through his uncommon and deft sticking to principles and making the right choices of 'friends'.

In the second place, the Anambra oil would be a celebration of the fact that nothing is beyond a people who show determination to achieve and the faith in their capacity to weather all the storms against them. The OPR and its activities are one of the few Nigerian success stories. It is the triumph of indigenous spirit and enterprise which goes to underscore that nothing is ever beyond the attainment of a determined people under a good, committed and selfless leadership as epitomised by Mr. Peter Obi's government, in spite of the incessant noise of some disgruntled members of the elite class of the state. OPR is a completely an indigenous project of Anambra people which showcases the best in men and materials from the state. When OPR was incorporated in July 2001 under the Chinwoke Mbadinuju administration, it took off with the same men of stature and integrity both in its board and management, who still run it today.

It had Chief Emeka Anyaoku, the former Commonwealth Secretary as the chairman, while such other eminent success stories as the former vice president, Dr. Alex Ekwueme, the eminent Igwe Peter Anukwu of Mbaukwu and others on its board, with the brilliant engineer and key player in the industry, Emeka Nwawka as its managing director. In spite of the giant pioneering efforts of these eminent people in laying the foundation of what has become a very big success story, the company could not achieve as much as its founders had envisaged, which says everything about the roles a political leadership is capable of playing in the affairs of men. Obviously Mbadinuju was not an inspirer of men and events and it showed manifestly.

For, it was not until Peter Obi came on the scene that OPR got a new lease of life and turbo-charged into a new trajectory that has written the story which we are reading today. Apart from investing the sum of four billion naira into the company on behalf of the state, the state governor has taken a personal and keen interest in the project and has shown other levels of commitment which has greatly catalyzed the take-off of the OPR activities. The Anambra oil sites, like every other petroleum exploitation habitat, is topographically inclement and almost inaccessible because of the difficult terrain. Before now, access to the location had been through the Uzo Uwani Local Government Area of Enugu State and across a river. But the state government has promptly constructed a 20-kilometer access road from Aguleri-Out in Anambra West local government area.

Last week, OPR board members and the governor inspected that road as well as the 10 kilometer flow pipe that would evacuate the crude from the wells to a spot on Anambra River from where it would be loaded in barges for transportation to Brass in Bayelsa State where it would be processed for export or local refining. The Anambra oil would be walking that road until the OPR Refinery is comes on stream, hopefully in the next 12 months. When oil officially starts to gush forth from the Orient Petroleum facilities, after the commissioning , it would mark the first time crude oil would be produced from an inland basin in the country. it was learnt that OPR's service contractor has already acquired high resolution 3D seismic data over 640 square kilometers of Orient's oil blocks OPL 915 & 916 to delineate the full extent of the hydrocarbon discoveries and prospects.

Chief Anyaoku had also revealed, when the governor went for the final inspection last week, as a prelude to the presidential visit, that his company had equally finalized the detailed engineering and ad sourced the modules of its 55,000 barrels-per-day refinery and that the installation of the refinery equipment was ongoing. Oil production activities are, as Ndigbo would say, like the carcass of a fallen elephant which is guaranteed to reach people who live far and near. In the same vein, the favourable impact of the Amambra basin oil activities will touch the lives of the people of the adjoining states and beyond in very significant ways. For, not only would all benefit from employment opportunities that would run into thousands, there would be direct and fallouts in economic benefits from the hustle and bustle of petroleum industry activities.

For instance, OPR has already acquired an expansive seven hectares land in the adjourning Kogi State for the construction of a product depot for distribution of the products from the refinery to the northern parts of the country. It goes without saying that the largely virgin parts of the Anambra North would instantly burst into booming economic vibrancy. Inside sources in the Obi government have intimated me that the government has concluded arrangements to commence the construction of an airport close to the oil facility to take care of the boom that is sure to ensue. The third and very important aspect of the presidential visit is that he will also commission the giant SAB Miller Breweries at Onitsha.

The factory is reputedly going to be the biggest brewery on the African continent, and hence the implication for job creation and economic development needs no further elucidation. SABMiller is a FORTUNE 500 company and a global player which boasts of over 72,000 employees worldwide, the figure that will definitely swell with the expected 2,000 direct jobs from the Onitsha plant. The state government has invested heavily in the facility in which other Anambra businesses have heavy stakes.

The company as well as OPR are a showcase of the excellent benefits derivable from the synergy between the governments and the private sector. The commissioning of other enterprises which include Krisoral Factory in Onitsha, only a second of its kind in Nigeria and which produces caps and labels for the drug industry with a capacity to cater for the needs of the entire industry in the country that had hitherto been importing their caps and labels from abroad. in the process, the president will also commission roads and industrial facilities at the Harbour Industrial Estate, a burgeoning estate where players like Chief Tony Ezenna of Orange Drugs fame, hold sway. A main derivative from this visit is the showcase of the indomitable and industrial spirit of the Igbo person which is still alive and well, and the fact that once a committed leadership that leads selflessly from the front is there to give leadership and guidance, the people are also there to key into his vision for the good of all.

That lesson was evident in Biafra, when the people, in spite being blockaded by land, sea and air, and under a war situation, were still able, under Ojukwu's leadership, to accomplish such technological feats that astonished the world. That OPR is a totally an indigenous thing should shock none, when we recall that Biafra was able to drill and refine its own petroleum products all through the 30 months of the war. It also shows that no amount of political and hate machinations can stop a determined, goal oriented people; it might even make them more determined. There is no doubt that the Biafra-of-the-mind and its current renaissance in Anambra and other parts of Igboland can be replicated nationwide as far as the culture of self reliance and non-reliance on federal government is concerned.

If other states could buy into the vision of the likes of Peter Obi who creatively invests the people's money and makes it to work for them (he has pledged to invest N25billion of Anambra fund in viable and money generating enterprises before he quits the stage in 2014), the era of going with begging caps to Abuja every month would be a thing of the past. The icing on the cake of the president's visit would be the unveiling of the statue of Dim Chukwuemeka Odumegwu Ojukwu and at the section of the federal highway from the Niger Bridgehead through Upper Iweka Road to the Zik's Roundabout in Onitsha.

That would also be followed by official re naming of the prestigious gateway to the East as the Emeka Odumegwu Ojukwu Express Drive. Coming immediately after the end of Ojukwu's mourning period, the act would mark the commencement of the immortalization of the hero. Like joke, like play, President Jonathan is systematically leaving an imprint on the tenderest part of the Igboman's heart. There is also no doubt that just within one year, the Peter Obi -Jonathan romance is paying off handsomely. All are waiting to see how further it would pay off in the long run, especially with the fate of the second Niger Bridge and the dilapidated federal infrastructure in the South East Zone, which remain a festering sore on the heart of every South Easterner.

Hahahaha!

Yoruba Obaship gone to the dogs. The Oba's rich opponents have given bribe money and his orders have been carried out by awon omo boys

Is this how they respect their elders?
Either Obasanjo is being abused by small boys in ACN or Tinubu is being done the same by other small boys in PDP
To them Yoruba all that matters is where the money is coming from.

Alert:

This is a fake story peddled by Patrick Obi Aka Abia State Governor's son in a bid to tarnish the image of his father's political opponent.

The same Reagan that this son of an idiotic Governor claims is arrested in a foreign country is the one writing on facebook as we speak.

https://www.facebook.com/reagan.ufomba

Shame on Patrick Obi and his other NL alter egos.

Rilikoko: Ogbeni! why d naming calling.No, there is no treaty nd yes, fleeing Europeans are welcome in Nigeria as long as they wil contribute positively to d economy.Just like we Africans flee abroad fr greener pastures..
I created d thread just to point out the aspect of d relative peace enjoyed by Mozambique hence,d flooding of their country by d europeans....they did not beg them to come unlike our govt

The key moment in this southerly migration may have come last month, when the Portuguese prime minister, Pedro Passos Coelho, made a humbling visit to Angola, begging for inbound investment. Just 36 years after the end of Portuguese colonial rule in Angola, its president was ready to show mercy. "We're aware of the difficulties the Portuguese people have faced recently," said José Eduardo dos Santos. "Angola is open and available to help Portugal face this crisis."

http://www.guardian.co.uk/world/2011/dec/21/europe-migrants-crisis-irish-portuguese

The stuff in bold means that the Portuguese are begging Angola to come invest in Portugal.

They are mostly looking for survival. Same way they are trooping to Angola, the other Portuguese speaking-country in Southern Africa

It sucks to be Portuguese or Greek now, but surprisingly Nigerians still troop out there looking for the left-overs.


http://www.guardian.co.uk/world/2011/dec/21/europe-migrants-crisis-irish-portuguese

Man sets mother ablaze in Ondo

https://www.nairaland.com/990399/man-sets-mother-ablaze

May be I rather beat my mum than set her ablaze??

bokohalal: You actually mentioned some Nigerians' perception of people of another tongue or culture. The attitude of 'we are not like that' though we all human beings with basically the same needs and faults. Nothing is ingrained into a people. Time,opportunity and necessity could be responsible for pushing a certain group more than others.

There is no evil or good you find among the different Nigerian peoples that you will not find among other peoples of the world. Only a thin-skinned Homo sapiens will bear these perceptions to heart.

bokohalal: That is not an Edo name. We read here and everywhere that only Edo women are love peddlers in Europe.

How can only Edo people be the ashies in Italy? Its like saying only Yorubas kill people for money rituals, or only Ijaws are given the presidency and they bungle it, or only Igbo boys do drugs, or only Hausa-Fulani muslims are boko Haram killers. I am sure the emphasis you alluded to is in/on the quantity (number of people involved from a certain group) and not in/on the quality (that only a certain group is involved)

jbaur24: ^


Having known your personality always trying to find a way to portray every good thing in a bad light more especially when its not from your state.

The same manner you (Chino) detest and downgrade everyting Igbo not coming from Anambra.

Valto: useless tribalist.. so okoro boys are now known to be members of nurtw (agbero) and opc in lagos?

Read Redsun's lips. He is only mocking Yorubas who claim armed robbers in Lagos are not Yorubas. Redsun is a correct Igbo man.

Na Yoruba now. Always looking for a free ticket and would cheat their way thru to get it. Here too the story is the same. They are either asking for free heating or free medicals or free food vouchers, and tell us sorts of lies to obtain these things. Shameless folks.