₦airaland Forum

ABUJA — The chances of Nigeria’s Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, to be appointed President of the World Bank brightened, midweek, as President Jacob Zuma of South Africa has joined the league of those pushing for her Presidency of the global organisation.

Mr Zuma and Ivorien counterpart, Mr. Alassane Ouattara, it was gathered, met President Goodluck Jonathan to pressure him to release the Minister to the bank in the interest of developing nations of the World and Africa in particular. That means that South African Trevor Manuel who should have been Dr. Okonjo-Iweala’s closest contender from the continent has given way.

Besides, some Executive Directors of the bank have also visited Aso Rock with a view to urging the president to give his approval for Okonjo-Iweala to take the exalted office at the bank, which has been dominated by the United States since its creation after the World War II, along side the International Monetary Fund, in 1945.

The current President of the bank, Mr. Robert Zoellick, is stepping down in less than two and a half months time.

A lot of developing countries are said to be pushing for Okonjo-Iweala who worked in those regions for a long time helping to manage their economies by providing expertise and, therefore, endeared herself to them, a reason for which she is said to be highly favoured candidate of emerging markets.

She is expected to be nominated on Friday and if she wins, she will be making history as the first African woman to head the Washington-based institution.

Obstacle

Those familiar with the politics of the World Bank say the only obstacle before Okonjo-Iweala would be the position of American President Barak Obama.

The USA which is the largest shareholder of the bank has dominated its presidency since inception, and whether President Obama would relinquish America’s hold on the bank is not certain.

Sources close to the minister said she was not putting herself forward for the prime job but that it was a great honour for her efforts to make life more meaningful for people in various countries of the world to be so recognised.

Born on June 13, 1954, Okonjo-Iweala had a long career at the World Bank rising to the position of Managing Director before President Jonathan, in July last year, persuaded her to join his cabinet where she performs critical roles in managing the nation’s economy.

Before then, she had served in the government of former President Olusegun Obasanjo as Minister of Finance between 2003 and 2006. She quit Obasanjo’s government after she was redeployed from the Ministry of Finance to Foreign Affairs.
http://www.vanguardngr.com/2012/03/wbank-presidency-zuma-ouattara-others-pressure-jonathan-to-release-okonjo-iweala/

This same storyline was mentioned way back when his relationship with OBJ soured, I do not know what this sensationalism intends to achieve. They should just get facts, determine all he got by crook and return it to the state, we don't need all this charade. The courts are now a celebrity making arena where we are reminded that our laws just don't work and treated to a drama between corrupt lawyers on both side asking for unending adjournments and throwing age-old technicalities about.

Do they know if he is being held in Nigeria, i pray our bungling blind-shooting state security don't end up killing this guy if they attempt another SEAL operation.

I weep for Nigeria-my country!same way some Senators carted away Air-conditioners and other electronics after their tenure ended in the last political dispensation.

Don't forget that bleaching minister that decided to cart away (carry away) a whole generator powering a huge complex like the National Stadium and that actually began the final decline of the Iconic National stadium.

carla baby: guy what of 250k. isit still available?

Babe, you are responding to a 5months old advert. I am very sure sold like hot-cake .

Driving education. most people (drivers and even pedestrians) just don't have it.

You guys are forgetting the SUPERTED and SPORTY cartons. Also no mention of speedy racers has been made. Nostalgic days

So sad for this country, is BH now issuing ultimatum to Government, GEJ wake up? I thought this should be the other way round, i.e. Government closes door on BH or something like that? So sad!!

Digriz: they wl check ur records to confirm if u hv given them enuf.

That is untrue, I am talking of when i played on Econet and MTN combined. For MTN on which sponsorship i eventually played on the hot seat, I played barely played N15,000 and i am certain of this. Sarcasm should not come in, and i tell you if you are intelligent and versed enough in general knowledge questions you may not play as much; luck being on your side. Like i said above, i have actually met someone who only played four times (N800), got the final question, made it as far as the fastest finger seat. Knowkledge and luck plays here, your knowledge answers the question while your luck will help one of the probable entrants be you.

How much is Beaf in Transcorp Hilton ?

kazum: Nigeria police has been coming something else, they are just looking for all ways to exploit money from the people they are to protect. Almost a month now that the new IG stop them from road block, this so call police have been arising people on the street.

I was on my way to work this morning by 5:53am (7min to 6:00am) my house is just 3min walking distance to my bus stop where I will join the staff bus(Oja Bus stop at Egbeda). Immediately I came out of my gate, I saw a Danfo bus (Lagos yellow bus) with some men inside it (without uniform). I saw them dragging one man inside the bus and make a u-turn toward my direction. I keep some distance away from the road, immediately one of them jump out of the bus and cross my path, he told me to enter the bus immediately a shouted OLE OLE OLE . The guy rough handled me but like three cars has flashed them that make the place to be brighter. Latter a man came out from the bus wearing police monkey jacket and police gun, that they are police that where am I going by this time of the day (5:53am).
Please my people is this professional? Because they act like a thief and I believe they are just try to exploit money from People.

@poster, you need to do thanksgiving if you are a christian or do sakat if a muslim. You just missed being killed by a fraction, those guys shoot and kill anyhow. Thank GOD and your star, a friend was arrested close to his house where he had gone to buy bread around 7pm and remained in detention over the weekend because nobody knew he was arrested until Monday. They siezed his phone and denied him communication. Only intensive search effort brought us to his detention centre and he would/may have been killed and paraded (proxy) as a criminal while a real CRIMINAL will be released and let loose on the society.

RIP. Your music will live on.

u re saying as far as u are in d fastest finger contestants seat u r given 2ok?wow! How much did u spend overal calling 2 play?

That was then and i am not sure if they still give that or more now. On how much spent, am sure i did not play more than N60,000 in total.

eklassical: wen it wos sponsored by zain twas kewl then n less stresful...i rembr.
U r quite lucki..250k isnt bad at all... I wil keep tryin then..thanx

I tell you, if you think you can then you will, i remember so many distractions and detractors but i told myself i had to get on the seat and win something. Also for everytime i got among the eight ( fastest finger contestants and not make it to the hot seat, i was given N20,000 less tax. That is a cool N60,000:00 for the three near misses i had and i also got a BB pearl to the bargain (with a month's BB plan) then.

This is mindless and insulting to Nigerians, nuff said.

farous: Most atimes,my wife will wake up in the night only to see that something has pierce(cut) her body.The cut is like using razor blade or finger nail and cut somebody"s body slightly and blood will be coming out.This has happened many times which if she wake up,i will see it real that she had a slight cut and blood will be oozing out.Pls who have ever seen this,and what is the cause?

Clear your house of the cobwebs and wall geckos. The wall geckos are the prime suspects in this one.

begwong: @op,when you spend over 100K+

Not true, i met someone that played only four (4) times. Getting the multiple choice question right is only a step that guarantees you a chance of being picked out of the millions that would have played for that week. Then, if you are chosen to among the randomly selected correct entries, a general question is asked with the 8 closest answers chosen and the respective persons notified to come to Ultima studio.I remember my own question was 'what year was George bush elected to office' (answer in 20seconds).

Depending on your knowledge and mother luck. You may play once and be lucky but statistically the chance for that is very low. I played many times, was on the fastest finger seat three times and eventually sat on the hot seat taking away N250,000 and 2lifelines (was too confident). Let me state that i started playing when it was sponsored by Econet; doubt if anyone here remembered that and you had to buy scratch cards to play. It is exciting and worth the while with a little luck, thanks to MTN i got my first Blackberry (Pearl) being a contestant on a special edition date. Tell you the truth, you have to play many times to succeed depending on your luck and knowledge especially for the last question (no options) that qualifies you to attend.

Boiz are waiting in nija. Uganda would be a child's play. I jsut hope they'll use the lessons from Uganda to protect us would be victims.

Why are the dates for this significant date different, for father's day; dates are same (3rd Sunday in June).

…as church leaders, members react
As the deadline for the take-off of the cash-lite policy of the Central Bank of Nigeria (CBN) in Lagos draws near, banks have started aggressive marketing of their various e-payment instruments to religious houses, particularly churches.

Financial Vanguard gathered that some banks have been making presentations to management of some churches on the use of non-cash instruments by their members to make payment for tithes and offerings. It was also gathered that some church managements have started sensitising their members on how to fulfill their financial obligations through e-payment channels.

Some are said to have invited banks to educate their members on how to adopt the various e-payment channels such as PoS terminals, web payment, mobile money and NFC (Near Field Communications) transactions.

For instance, a church, This Present House, some months ago hosted banks to give presentations on e-payment of tithes, etc. Also, some churches are calling on their members to use cheques for all payments up to N5, 000 for tithes, building vows, special seed and the rest, while other offerings of lesser value can be collected in cash.

Some church members are, however, complaining that regular use of cheques will increase their COT charges from their banks.

Point of Sales, POS, facilities

It will be recalled that owing to the huge cost of cash handling by Deposit Money Banks (DMBs) in the country, CBN decided to drive people towards alternative e-Channels to reduce the handling cost. To this end, the apex bank set a maximum cash transaction limits for both private and corporate accounts.

With the policy, a private/individual account can only do a maximum cumulative cash transaction of N150,000 with a service charge of N100 per additional N1,000, while a corporate account can only do a maximum cash transaction of N1 million with a charge of N200 per extra N1,000.

Banks visited by Financial Vanguard said they have approached a number of churches, telling them of the policy and other channels to use to escape the sanctions associated with the breach of the policy.

An official of GTBank’s branch in Shasha-Akowonjo, Lagos, who spoke under the condition of anonymity, said any transaction by churches and other religious organization, beyond N1 million would be sanctioned and that there are no exception to the rule.

She, however, said church members can use Point of Sales (POS) machine to pay their tithes, donations or any money. She said the machines will debit the member and credit the church account.

Also Skye Bank and United Bank for Africa (UBA) noted that the CBN policy has no exclusion. They said churches can only be exempted if they use on-line banking to make transaction. As such, they said church members can make various payments to their banks through online banking.

Meanwhile, a banker who spoke on condition of anonymity wondered if the economy is ready for such transactions with the nation still battling with power and mobile network failure which are germane to the successful implementation of the e-banking programme.

“The banks are ever ready but what calls for worry is whether the economy is ready because the PoS machines that are being given out to churches, mosques, market women and institutions to bridge the gap of the e-banking products need to be powered by constant electricity supply, good network signals, reliable and an affordable internet access that would allow for smooth operation of the e-banking payments,” he said.

Investigations by Financial Vanguard revealed that some church leaders have started exploring the possibility of acquiring Point of Sale (PoS) machines for payment of tithes and offerings, while others have asked their members to consider making payments in cheques and bank drafts to reduce the volume of bank-bound cash.

The move is to help them, especially those with centralised accounting system, avoid charges on funds in excess of the N1million daily deposit and withdrawal benchmark for corporate organisations, including churches.

Specifically, church leaders have requested that members, who have current accounts, should pay tithes with cheque. “We will prefer manager’s Cheque so that it would be easy for us to manage,” a church leader announced after a recent church service in Lagos.

A pastor in the Redeemed Christian Church of God (RCCG), name withheld, told Vanguard that churches, especially large ones, have no choice but to adopt alternative means of collecting offerings.

“Imagine a church, as a corporate organisation, going to pay in N2 million cash to the bank in a day; while N1 million will go in freely, the next N1 million will be surcharged at N200 per N1,000 amounting to N200,000. Then add another 5 per cent of the N200, 000 as Value Added Tax, VAT, making a total of N210, 000 in handling charges. That is a lot,” he said.

The pastor however conceded that when fully operational, the policy is good for churches as it will reduce incidence of fraud through temptation to steal, and also discourage armed robbery incidents against churches.

Pastor Ekene Stanley, Head of Accounts, The Redeemed Evangelical Mission (TREM), Apapa Branch, said the church is trying to key into the cashless initiative.

“We are trying to key into it considering the fact that we know the risk involved in a cash society. What we are trying to do is to ensure that we encourage our members. They have been made to understand that most of their tithes can be paid directly into the bank using the bank account and the church also receives an alert when such is paid. It is not really a problem per say.”

He said some of their members are beginning to embrace the concept because it is convenient for them, adding however that “not everybody will wake up to make attempt to pay their tithes into the bank.”

On whether it is in response to the cash-less policy that the church members are now making their payments via cheques, Stanley answered in the affirmative.

“Yes, it is because of the cashless policy and moreover, because of the convenience. Most people believe in spontaneous payment. Instead of removing their tithes when they get home, they can easily instruct their bank to oblige a standing order and pay directly into the church account and that makes it easy for the church.

“All they need do is send us information or send a text message to the church office. Of course we have an alert; we get it as soon as they pay. So, when we confirm through the church due processes, then we can withdraw it for other things or leave it in the account as the case may be.”

He, however, noted that the case of offering is different. “Offering is not something you can pay into the bank. Offering is something you bring to the church; you package whatever you have and pay. So, I believe the cash-less.
http://www.vanguardngr.com/2012/03/cash-lite-lagos-banks-woo-churches-with-e-payment-options/

llade: Sincerely I became a millionaire @ 24 but am 29 n wud be 30 in november but its been difficult gettin to be a billionaire, I know its only a matter of tyme. But I thank d big man up, God cos did not imagine dat I cud av gone dis far from d creeks of bayelsa.

Bayelsa, are you into oil bunkering or militancy?

strangerf: Wake up dude, wifey is having an affair.

I can live with this affair.

Every Sunday till now, irrespective of the web edition cuz wifey loves the fashion pages.

Beaf: [size=14pt]100% Resource Control Is What We Demand.
Efribodi, occupy ya resources (or invent some). [/size]

Are you vocalising or what. Your name says it all.

[quote author=d_surrogat]U are lucky....what if the reverse is the case[/quote] . You mean if he was the one with the HBP. ehn.....

Tremendously, the little before is now zero.

Nigeria, nay Jonathan we hail thee

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