₦airaland Forum

The adoption of the e-payment option for all public sector transactions was meant to address a number of problems associated with government businesses. The system was not only meant to check corruption and abuse of process, but also to make such transactions faster and less cumbersome.

But Mr. Hassan Saleh, out-going director of Customs, Immigration and Prisons Pension Office (CIPPO) says instead of easing the pains of retirees and the traditional problems associated with pension payment, e-payment has often aggravated them because of the antics of some bankers, who, according to him, have devised means of defeating the purpose for which the e-payment initiative was adopted for their own selfish gains.

“When you release money to the banks they keep it for some days before putting it in the individual accounts of the pensioners and that frustrates them. E-payment was suppose to be the fastest way of paying pensioners, but to my disappointment, most of the banks don’t credit the account of the pensioners when you release money to them,” he told Daily Sun in Abuja.
It is a recurrent problem that Saleh has had to contend with since assuming office as the CIPPO boss on January 17, 2008. In a particular case he had to summon the manager of a bank when the bank failed to credit pensioners with their money long after the money had been paid through the bank. The aggrieved affected pensioners would go to the bank for their payment, only to be told it had not been paid. Then they would return to CIPPO, only to be told again it had been lodged with the bank. “It can be very frustrating,” he points out.

Of course, pensioners have their own peculiar problems which make the e-payment process a little cumbersome if not complex for them. “We discovered that every pensioner had a problem. We have paid no fewer than 18, 000 people. I met about 180 cheques that were pasted at the back of pensioners’ files for several years unreleased,” he says.
The cheques were signed and taken the person who was supposed to issues them out to the expectant pensioners, but for whatever reason the man did not release them, long after they were ready. “Some people died waiting. We have been able to clear all these. Those who have been going to CIPO for years will today testify that you now have limited number of people waiting to be attended to. When I assumed duty the place was like a mini-market. Some people made the place their permanent abode,” Saleh recalls.

But those were not the only problems encountered by Saleh when he was deployed to CIPPO from the office of the Head of Civil Service of the Federation where he was serving as the Director of Establishment and Industrial Relations. In fact, prior to that time, customs, immigrations and prisons retirees were having repeated nightmares over the payment of their benefits, including monthly pensions. He recalls that petitions were being shipped into the office of the Head of Service on continuous basis as the frustrated pensioners complained about how they were being short-changed by the system.

In his capacity as the director of establishment and industrial relations, Saleh was privy to all the goings-on in CIPPO. In deed, it was in response to the crisis in the office that the then Head of Service, Ms. Ebele Okeke, had to send him to CIPPO on a rescue mission as it were. “It took me about two weeks to go through all the petitions which were more than 8, 000. They were all about non payment of pensions,” he says.
So from the outset Saleh knew it was not going to be a tea party. He says as much: “I told myself I was going to face problems, and I prepared for them. I set up several task forces on specific areas. About six or seven task forces were set up. It was a situation I found very daunting because some people were kept for seven years without payment. We had to do some assessment to know how to deal with the situation.”

After the initial assessment, Saleh ran to the federal government, cap in hand. The government responded and released a supplementary budget of N7.8 billion to the office in December 2008. CIPPO started paying the arrears on December 23, just in time to put some smile on the faces of the retirees ahead of Christmas. Still there are many who have yet to be paid because of the problems involved. As the out-going CIPP boss put it, some of the live in remote villages, while some are just very old and weak. “We are still waiting for them to turn up,” he says.

How did CIPPO use the N7.8 billion? Saleh explains that besides the payment of regular monthly pension which was N4.3 billion, the supplementary budget was used to pay pension arrears that had accumulated over the years. As at today, he says, not less than N6 billion has been spent on these, and the office is still paying.

In terms of outstanding gratuity, CIPPO, under Saleh’s administration had set up a committee which has been working to ascertain the amount involved. Again another category of pensioners that has given the office a serious headache is those who were forcefully retired from Customs few years back during what was called a downsizing exercise. Since then they have not been paid their disengagement benefits. Some of them even committed suicide out of frustration.
Explaining the peculiar situation of the Customs retirees, the CIPPO director blames the authorities of the Nigerian Customs Service (NCS) for the unnecessary punishment the former Customs personnel have been subjected to. “That time, every agency was supposed to compile names of those they downsized and referred to the Bureau for Public Service Reforms. A committee would work on it at the bureau and forward to the Presidency for approval. Unfortunately, the Nigerian Custom Service did not follow due process,” he says.

Because of the failure of Customs to follow laid-down procedure for disengaging the affected persons, Salah says the Bureau of Public Service Reforms had turned down their list. Up till now, CIPPO is still struggling to get government to release money to pay them: “There are many things that came up and distorted the list. There are about 2, 751 people. We learnt that some of those people have been reinstated into service. They have to be removed from the list, the custom has to come in and help us out. Some of them don’t have complete records. We cannot compute their severance package. While waiting, about 67 of them died. Five of these people committed suicide.”

Besides causing the problem in the first place, the Customs authorities appear not to be very keen on getting it rectified. Saleh thinks they cannot be absolved from culpability and indeed says he lays “the blame solely on the custom service because they have not been able to give us up to date records of those people and as such it has not been easy for us to compute. Right now, we have set up another committee to classify the list of the custom downsized officers. For those who have died we expect that the Customs will recommend the names of their next of kins to be paid.”

Decrying a situation where people relieved of their jobs in 2006 would still not get their gratuities three years later because of the omissions and commissions of those still in service, he says: It is a very pathetic situation. When you meet some of them you think they have never worked in their life and some people are not feeling any guilt about it.”
When CIPPO started paying last December, it invited retirees from the three agencies it covers, namely Customs, Immigration and Prisons. Files were opened for those who have complete records, who were then paid 23 months arrears. CIPPO is now paying them monthly pension but those who don’t have complete records and those who don’t have records at all are not in its list yet. As a result Saleh insists they are not being paid anything yet.

On payment of pensions and gratuities to ex-Biafran personnel, he confirmed that CIPPO had received a directive to pay those who worked with Customs, Immigrations and Prisons before they moved to Biafra. “We were able to get at least 71 of them from the Budget Office. The Budget Office was paying them when they were pardoned by the Presidency. The directive was that we should go round the country to fish them out. We have been able to get about 65 of them. We are now trying to inform the minister of interior. We also need to get money to pay them,” he explains.

However, there are still complaints from the Biafran retirees on non-payment of their pensions. Saleh, who once served as Secretary to the Government of Yobe State before transferring to the Federal Service is quite aware of this: “When people write petitions that they have not been paid, we normally go to the individual file to see the record and to know what happened. We do that through the various task forces which we appointed to look into such problem.”

Reminded that there might be those without file, he says there is little CIPPO can do in such cases because the only proof that a person has a history of service is the file containing his record of service. Without a file, he says, “we assume that you are not a pensioner until you prove to us that you are one. Paying anybody that claims he is a pensioner is not just good enough.”

Saleh would want to be remembered for laying the foundation for a smooth administration of pension for those who serve their country in the three key parastatals covered by CIPPO. He says: “When I came in, there was no particular date (for pensioners to receive their monthly pension), but I changed that situation. They now get their pension on the 25th day of every month. I have now changed it to the 15th of every month. It depends on the release of funds from the office of the Accountant General of the Federation. We worked very hard to ensure that it does not go beyond the 25th of every month.”

By: MODESTUS CHUKWULAKA, ( The Sun newspaper ) Abuja

Abuja, Nigeria’s Federal Capital Territory is now a huge joke of nature that heavy traffic build up predominates where there are so many good roads. From any of the entry points to Abuja, Nyanya, Kubwa and Airport Road in the morning, it is a nightmare to motorists. In the afternoon and evening, peculiar Lagos features of traffic build ups and confusion leaves a first time caller to the city bewildered. You would be wrong to think that the city centre is a haven for vehicle racers.

Abuja, a sprawling patch of savannah with rolling hills and tortuous valleys, of Gbagi huts, granaries and once empty roads is gradually receding to a city of horror to motorists. The hallmarks of civilization which normally form the hooves of modern vehicular traffic have come to trample on Abuja’s smooth roads.

In this city, psychological trauma, stress, anger of various degree, anxiety and frustration often trail the daily experiences and reactions of commuters from the suburbs to the city centre. It has become a daily occurrence. Failed appointments and sufferings are often the direct consequences of this build up in traffic.
Sequel to this heavy traffic situations, residents believe that the traffic hold-up in the city, which has become a serious menace would in a no distant time make the cherished Federal Capital Territory (FCT) to replicate the traffic experiences in Lagos, if nothing is done very urgently to stem the tide.

For instance, commuters along the Keffi-Abuja road which is the only road leading to the city centre from Nyanya, Karu, Jikwoyi, Karshi, Orozo, Kurudu, Gbegi, Gbagalape and other towns like Mararaba and its environs in Nasarawa state, set out to their work places as early as 4.30 am in order to beat the hold up. The hold- up starts to build up as early as about 5.30 am from Mararaba through Nyanya and stretches up to Aso Rock Villa junction in Asokoro, a distance of about 10 kilometres.
Some commuters who spoke with Daily Sun said they spend hours on the road that, ordinarily, should have been less than 30 minutes drive. The case is not different with those going to work in the city from as far as Suleija in Niger state through Kubwa, a satellite town in Abuja. This is the access road that commuters from Kaduna, Niger states and Zuba, Madala, Deidei, Kubwa, Bwari, Dutse and other satellite towns must pass through to get to their work places in the city centre.

For this axis of the territory, Daily Sun discovered that the hold up starts as early as 6. 00 am and stretches till about 11.00 am from Kubwa up to Gwarimpa on daily basis. Some of the residents disclosed that people get stock in the hold up sometimes for several hours before proceeding to their various destinations in the city. The story, Daily Sun’s findings show is also the same with people coming from Lugbe and other suburbs along the Lokoja-Abuja road through Lugbe, and Karmo, another satellite town from the Jabi axis of the city.

Daily Sun also discovered that people in the different axis suffer more in the evenings while returning to their houses after work hours. It was discovered that from about 5. 00pm, traffic on all these roads become very heavy so much so that it causes the commuters to turn off their vehicle engines for a very long time in other to avoid overheating. It was also gathered that the situation usually becomes very chaotic during the rainy season when motorists approach the junctions. Confusion usually set in following the absence of Police, traffic wardens or Road Safety officials.

Most commuters attributed the menace to lack of alternative routes to the city from these towns resulting from what they described as the fault of those who planned the roads leading into the city. Commuters with expert views on the road situation blamed the government, which they said did not take into consideration this menace while planning the FCT. It was also learnt that few years ago, about the late 1990s, even though the road network was not as good as it is, presently, the traffic situation was non existent on those roads.

The demolition exercise in the city and the suburbs by the erstwhile Minister of the Federal Capital Territory (FCT), Mallam Nasir Ahmed el-Rufai and the sales of government houses in the city by his boss and former President, Olusegun Obasanjo, combined to chase so many people out of the city to those satellite towns and environs, the consequence of which is the present congestions on those roads. By the activities of that administration, many people who could not afford to buy the houses they lived in the city, or who were not even given the opportunities to benefit from the policy had no alternatives than to relocate out of the city. There was also movement of those whose houses were demolished to the suburbs of the city. Daily Sun learnt that this was the beginning of the menace of hold-up in Abuja.

The traffic situations are not without their own problems. For instance, a resident in one of the satellite towns and a Civil servant, Mrs Mercy Eze, told Daily sun her experience as a pregnant woman in the hold-up. She narrated how she boarded a bus going to the city from Mararaba and was stocked for over an hour on the road. According to her, “I became very uncomfortable, sweated profusely in the bus that was choked up with people and with the petrol and clutch odour, I felt like vomiting. I hadn’t gone even half way into my journey before I told the driver to drop me because I could no longer bear these inconveniences.

“Shortly after Nyanya, at Kugbo, I was forced to tell the driver to drop me. When I got down, I had to look for a place to sit down, bought coke with biscuits from the hawkers on the hold-up to resuscitate myself. Afterward, since the hold-up was still very heavy I began to trek slowly not minding my condition until I got to A.Y.A

(Asokoro), before I was able to proceed to my office.”
Apart from pregnant women suffering these inconveniences which sometimes she said was capable of causing abortion, she said it has created problems to some marriages arising from suspicions between couples as some of them who suspect infidelities on the part of their partners claim that they are using the hold up as a cover-up. Equally, she pointed out that it has affected the night fellowship among family members as most of the times they return late while others may have gone to bed, preventing them from having dinner together.

Motorists who spoke with Daily Sun observed that the situation is not often very healthy for vehicles as some of them suffer from overheating, breakdown, dents by reckless drivers, and even serious accidents resulting from break failures and loss of control by the driver leading to multiple crashes of vehicles and eventual killings of some commuters.
However, as a result of government’s responsiveness, Daily Sun learnt that construction works had been carried out on most of the roads while expansions are ongoing on others to ease the pains. Presently, all of the highways are being dualized and well built for the convenience of motorists. The Abuja-Keffi road that used to be a single lane as at late 1990s had since been dualized. The road leading into the city from Gwagwalada through Lugbe, is also undergoing serious expansion. These not withstanding, people are worried that the end to the traffic build up would be an illusion until government create alternative roads that would lead into the city from all these satellite towns.


By: UBONG UKPONG (The Sun Newspaper) Abuja

Yinka is a banker while his wife, Funsho, is a journalist. By virtue of their jobs, the two of them close late . They’ve been married happily for two years before trouble reared its head in their home. That was when the children started coming. Yinka suddenly realized that his wife must come back home early to take care of their two children as their housemaid has given notice of her leaving at the end of the month.

The pressure is on Funsho at home and her office as her editor is always on her neck to deliver. Now the bombshell Yinka wants her to quit her lucrative job, and by implication, her budding career to take care of her children. This is a job that took her several years of job-hunting to secure. She was not sure the job would be waiting for her when she decides to return. She is at a crossroads.

Many men are asking their wives to quit their jobs to take care of the children and for other reasons that range from perceived infidelity at the office and health grounds. If you were in this situation, what would you choose? Your home or your job?

Fellow Nairalanders, what's your view on this? Meanwhile here is what a number of wives interviewed had to say on this. Excerpts:

GBEMI .A
I don’t think any man can say that without a cause, no. For a man to tell me or his wife to quit her job means he must be suspecting foul play. It is only when a woman cheats on her husband and the husband on the other hand knows that he can advise her to quit her job and become a full time housewife, or on health grounds, or whether to be able to give more attention to her children.
If nothing of these happened, it means the man is trying to shoulder the entire burden in the home, and I think it is not advisable for such a woman to quit her job. The man might die at anytime and what would happen after his demise? The family will have to start from the scratch.

MRS. FRIDAY
It depends on his reasons. If his reasons are not selfish, I think I would accept it.
First, I think the reasons which could make me quit my job will have to be poor health and demands of my family. I think there is a particular stage in our female children’s lives, especially when they are getting matured in life that requires attention.
Secondly, for me to quit my job, I think my husband should be financially strong to cater for the family, because when the wife stops working, the entire burden rests on the man alone and sometimes it could be too heavy on him. That is why it is good for the wife to also be supportive in terms of finance.

GOLD
It is not always advisable for a woman to quit her job in order to be a full time housewife, because the burden of running the home will be one sided. In other words, it will not be balanced and this of course, would be too much on the man.
Challenges don’t knock on your doors, they come when you least expect. If the husband alone should shoulder the burden, you can guess what would happen.
For example, if the man suddenly dies and the wife does not work, how do you think the wife will survive? No matter the investment the husband had before he died, if nothing is done to service a car, what happens to the car? It will break down.
There is no successful man that sleeps at home and expects a great boom in his wealth or assets. So, a family that would survive the test of time should be up and doing.
The wife should necessarily not be a civil servant, no. She could have a shop in front of the house or supply goods to people to eke a living.

MRS. CONSTANCE NWOKE
First, I would say no. I would first explain to him why I wouldn’t quit my job. Although, sometimes it is good to stay at home and look after the children.
I think if my work does not take more of my time… if perhaps it is the type that is between the hours of 8 a.m. and 5 p.m., well, I think there is no need quitting the job. But if it is one that keeps me out late, then, I have no alternative than to quit.
One important thing is that my neighbours could start gossiping that I don’t work. They would start calling me names and say that you are the lazy type, you are not considerate,and that you are milking your husband dry .

COMFORT O.
I think I know that women, no matter their educational qualifications, end up in the kitchen. Indirectly, the woman would definitely cook or serve her husband food, it does not mean she will forever remain in the kitchen or sleeping in the kitchen. Women who value their homes would not want their husbands snatched from them.
If I have a good job that can supplement my husband’s income, I don’t think there should be any reason to quit.
Although some men tell their wives to quit their jobs out of selfishness, this applies to the jealous men who would always monitor their wives everywhere they go, read her text messages and would always want to know their callers.
But I can say that any man who does that is prone to hypertension and nothing more. Nothing positive comes out of such things; they are the types of men who tell their wives to quit their jobs without substantial reason(s).
Every man should, at least appreciate his wife’s efforts to complement his efforts in the family. For me, I don’t think it is possible because I cannot allow my certificates to be a waste.

MRS. ADIGUN
I don’t think I would quit irrespective of what his reasons could be.
One, he should have thought of what would be beneficial to both of us, not his own interest alone.
If he is considerate enough, I think he should have known that it is good to always balance an equation. It is like a car that has three tyres; there is no way it would be balanced on the road.
No matter how rich a man could be, he should allow his wife to have something to support the family with. There are always times people run out of cash. Sometimes, our husbands are not paid early enough. In that case, it is the wife that supports the family pending the time the man is paid.We have seen homes where the wife is the breadwinner because the husband’s take home is nothing to talk about. Amidst this, there is understanding and joy.
So tell me, if such woman does not work, what would happen to the family?

MRS. BUKKY AJOSE
I won’t do that for any reason. God forbid! If I decide to take to his advice, what happens if, God forbids, he dies suddenly? Where would I get money to cater for the family? There are in-laws who send their daughters-in-law packing immediately after the death of their son. They would not allow her take anything out of the house, not minding the children their son had before he died. Some of them send both the children and their mother packing.
So, when my husband tells me to quit my job and become a full-time housewife, what would become of me and my responsibilities to the family? What would I be doing sitting at home all day?

MRS. AINA SANYAOLU
I don’t think it is possible for my husband to tell me to quit my job because when men need something from a woman they start pretending and immediately they get it, they would change their attitude towards you. God forbid, if he dies, and does not have anything on ground to cater for the family, where would I run to?
As a mother and a good wife, there are things one should do for the children, for example, assisting in terms of finances, but what happens when you suddenly stop working?

Source:
The Sun Newspaper of 15/11/2009
By GIDEON OPARINDE

During the Uefa CL match yesterday between Milan & Real Madrid, Some people came to my house to watch the match ( Not my friends) and I offered them drinks, the Irony of it is that I was to drink the Pepsi that had the winning cork of 1 million naira, but one of them that was given Coka Cola complain that its too cold, I then gave him my Pepsi, and to every body.s suprise after opening the cork my house girl discovered that the cork contains 1 million winning price.
8 out of the 12 people in my house are of the view that I should be the one that takes the 1 million while the remaining are in support of John taking the money. The winning cork is with me till now and John is threating fire and hell. What should I do, do I go ahead and claim the price? Please advise

During the Uefa CL match yesterday between Milan & Real Madrid, Some people came to my house to watch the match ( Not my friends) and I offered them drinks, the Irony of it is that I was to drink the Pepsi that had the winning cork of 1 million naira, but one of them that was given Coka Cola complain that its too cold, I then gave him my Pepsi, and to every body.s suprise after opening the cork my house girl discovered that the cork contains 1 million winning price.
8 out of the 12 people in my house are of the view that I should be the one that takes the 1 million while the remaining are in support of John taking the money. The winning cork is with me till now and John is threating fire and hell. What should I do, do I go ahead and claim the price? Please advise

Jos — There are indications that the Academic Staff Union of Universities (ASUU) might suspend its over three-month old strike today (Friday) as most of its chapters have endorsed a two-week suspension within which the agreement between it and government would be signed.


The National Executive Committee (NEC) of the union had, Monday, mandated the various chapters to convene a meeting of their congresses to make input into the decision to suspend the strike based on the progress so far made in negotiations.

Feelers from the various universities across the country indicate that almost all the chapters were in favour of the suspension of the strike. A high-ranking ASUU source told Vanguard, yesterday, that based on the development, it was almost certain the strike would be called off at today’s meeting.

The University of Jos Chapter of ASUU at its meeting, yesterday, resolved to support the move in the belief that government would not back out of the negotiation again.

Briefing journalists at the end of the meeting, chairman of the chapter, Dr. Timothy Namo said members expressed satisfaction with the briefing they got on the progress made so far and supported the suspension of the strike.

He, however, disclosed that members expressed apprehension that government might again renege on signing the agreement, hence the decision to suspend rather than an outright call off of the strike.

“Once beaten, twice shy. We are giving them (government) the benefit of the doubt and if government does not do what it promised within the two weeks, then the strike would resume. That is what our members are saying,” Dr. Namo said.

SOURCE:
http://www.vanguardngr.com/2009/10/09/ASUU-suspends-strike-tomorrow/comment-page-5/

I am October 1st

Nation awaits audit of 11 banks

Security cash in on crisis

CBN appoints EDs for 'troubled banks'

LIKE a disturbed beehive, the banking sector has hit a high note of disquiet, with fears elicited by a cocktail of intrigues in the on-going reforms, doubts over the jobs of all cadre of staffers and uncertainty over the fate of directors.

In addition, certain security agencies are now being accused of being recipients of gratification in the desperation of some debtors or bank chiefs to have their problems hushed up.

Also, names of bad debtors, if published at all, may not be done in full, even as the debt stock uncovered in the audit exercise conducted on the remaining 11 banks, excluding the three largely foreign-owned, has revealed a level that far-outstrips the discovery in the troubled five banks. The possible non-disclosure of the debtors is believed to be due to the prominence of top political office holders on the list.

The bad loan saga has reportedly implicated operators at high levels of the nation's leadership, including past and serving governors, ministers and legislators.

Family members of some of the nation's top office holders have also been found to be involved in the brisk business of influence for cash, which the industry has become. Indeed, a lady married to a governor and also close to the seat of federal power, was named as a go-between in some of the deals.

These influential persons were specifically mentioned as the ultimate brokers, introducing the banks to government agencies and officials, on mouth-watering commissions.

Analysts have started sieving through the maze of intrigues that have dogged the banking industry since last year, seven months before the exit of Prof. Chukwuma Soludo as Governor of Central Bank of Nigeria (CBN) and the succession exercise.

A top government official, who spoke with The Guardian, said the real mega debtors are yet to be mentioned and may never be publicly listed.

He said: "It has already been discovered that the non-performing loans are astronomical, especially the ones incurred by the 'untouchables'. Figures have shown that the discovery in the five troubled banks is not more than 10 per cent of the total stock."

Another official also said that the ongoing debt recovery exercise has been tainted by mega bribery, with top officials of some security agencies rollicking on the windward side of the scam.

There was the case of a gentleman and his company who are owing a bank tens of billions. The bank allegedly paid a substantial amount of money in foreign currency to some security agencies' officials to help compel him to pay once he was apprehended after a long time of his failure to pay. The man, The Guardian learnt, merely induced the officials with an extra 50 per cent of the said amount and he was released, under the pretext of following due process of arrest and prosecution. He is now reportedly at large.

The source continued: "Nobody is also talking about the high indebtedness of a particular former governor, which was incurred either directly or through his proxies, some of who are now already known", he said. On a more worrisome note, another source disclosed that the N747 billion now being talked about by the CBN is a mere 10 per cent of the bad loan profile in the 24 banks.

"The total problematic loan portfolio in the industry is about N8 trillion. So, the N747 billion being talked about is just a mere 10 per cent."

The CBN governor, Sanusi Lamido Sanusi, is also being urged to announce, in the spirit of his avowed full disclosure regime, the amount spent to print the N420 billion injected into the five troubled banks, even as official sources put the current printing expenditure at N100 billion.

To ensure a hitch-free operation, the Central Bank of Nigeria (CBN) has appointed Executive Directors (EDs) for the five banks whose managing directors it recently sacked.

This is in line with the pronouncements by the CBN governor, Sanusi Lamido Sanusi, when he announced the removal of the managing directors.

The five banks, which got the new executive directors are Intercontinental Bank Plc, Oceanic International Bank, Afribank Plc, Union Bank Plc and Finbank Plc.

For Afribank, the new EDs are Mr. Stephen Adaji (Executive Director- Operation (OPS) & Information Technology (IT), Human Capital Management and Corporate Support), Joke Giwa Director Retail, Commercial and Corporate Banking), Mr. Nnamdi Christopher Anammah (Institutional Banking), and Mr. Isaac Kamaru Alofoje (Risk Management, Strategy, Remedial & Control).

Giwa, until her appointment, was a country Head, retail banking in Ecobank Plc; while Alofoje was until his appointment also, deputy managing director of Financial Derivatives Company Ltd. Anammah was the President/CEO of Prudential Trust Company Ltd. while Adaji retired from Bank of Industry (BoI) in 2005.

For Finbank, the CBN was reported to have appointed three executive directors with one of the newly-appointed said to have come from First City Monument Bank (FCMB), while the second appointee is from Diamond Bank Plc, and the third a staffer of United Bank for Africa (UBA) Plc subsidiary.

However, their names are being kept under wraps to enable them get clearance from their various banks or their current employer, The Guardian has learnt.

According to sources, the CBN also appointed four executive directors for Intercontinental Bank Plc and Oceanic International bank Plc respectively but their names were yet to be disclosed.

For Union Bank Plc, the newly-appointed executive directors are Philip Ikeazo, Director (wholesale banking), UBA; Ibrahim Abubakar Kwargana, First Bank deputy general manager and Business Development, Abuja; Adekunle Adeosun; Director, Group Treasury Sales, UBA and Ade Shonubi, director, Information Technology (IT) and Corporate Services, Renaissance Security Ltd.

It is expected that all the named executive directors for the five banks will resume duty today.

Source: By Ade Ogidan, Business Editor with Enitar Ugwu and Adeyemi Adepetun ***The Guardian Newspaper

Hi Faulks,

Please I need advise from you guys that knows about dogs. I am in need of a very good dog thats very good security wise. We have been having cases of Armed Robbery recently in my area they not only rob but raped.

I urgently need to get about two or three of this dogs, Please I need your advise on choice of dogs

esosa4real:
http://allafrica.com/stories/200902040001.html is this real?, if it is then Naija doctors rock!!!

My brother its real, I am a living witness to this, I was not only cured, but my mum that was living with diabetise 18 months before I was diagnose was also cured,  and we have been eating everything since then till tommorow to the Glory of God. And this Nelson mention in allafrica.com is from the same area with the man that cured mine,  but I do not know if they are realated

agabaI23:
Why not direct them here? Why must they contact you by e-mail?

No known cure for diabetes yet. Thread with caution. Herbs are good but be careful.

My Dear agabaI23,

You are right and its very hard to believe there is a cure for diabetise, but my brother I can tell you that there is, and I am a living testimony , also check this out if you are still in doubt: http://allafrica.com/stories/200902040001.html
I have nothing to gain or lose if they go for the herbs or not, but as I am telling you now, I know more than 5 people that have been cured by this same man (myself inclusive). I was apprehensive like you before now and did not belief it at all but its real my brother.
Anyone that cares to try can contact the man with this number:07039535313, he's a retired Nurse, work formerly with ExxonMobil Clinic both at QIT Ibeno Eket and Lagos. You can also call the wife on 08084946069 since the man's number hardly goes as he is on Pastorial Duties with Baptist Church in a remote part of Ekpene Ukpa in Etinan LGA of Akwa Ibom State
Best of Luck

About a year ago, I almost died because of this ailment, the funny thing is that I did not even know what was wrong with me: It started with High BP, then after about two months I noticed I was Urinating frequently and was getting very tired and consuming lots and lots of liquid without any satisfaction. As at this period I was at Abuja (I went on a business trip ), At a point I cannot stay 2 minutes without urination and drinking water, I then taste my urine, behold it was sweet, I called my mother cause she had already be diagnose of Diabetes. She advised me to go for a test and also on some medication to take.

After the taste my worst fear was confirmed, My blood sugar then was about 400+ I took medication and manage to return back to Enugu, by then I was very tired. I was admitted at a Clinic @ Trans Ekulu when they noticed my blood sugar level and my medication change to insulin injection, and I had lost so much weight. Well the long and short of it is that I was on diet until December 2008 when I travel home for Christmas, where I met one of my Aunty after she discover I was not eating everything like before, after much questioning I told her why, she then directed me to someone she claimed had cured people, I did not believe her and completely ignored her until two days to my coming back from Christmas, I reluctantly followed her to this man with my Mum, he requested for money but by then I did not have money enough so I reluctantly gave him some money and promised that I will send money through my brother when I arrived Enugu. He said the medication will be ready in two days time for myself and my mum, two days after my brother called for the money and I told him I am no more interested in the medication, but after much persuasion I sent the money, he sent the solution packed in a bucket of ice-block through a transporter with the instruction that I should take it first thing before food everyday, to my surprise each day I took this solution my blood sugar keeps coming down, same with my Mum;s own, after two weeks my blood sugar was so low (b/w 55 and 60) that I had to stop taking the drugs, since then (January 2009) till now I have been  ok, and I am now eating everything, same with my mum, I have sent about three people to this man and all of them are ok.
I can testify to it, if anyone is interested he should contact me through my email: imeiquoho@yahoo.com, I will direct him or her to this man, its my only way of helping anyone suffering from this wicked ailment.

The Central Bank of Nigeria (CBN) is reintroducing the Wholesale Dutch Auction System (WDAS) to guide foreign exchange transactions in the country, effective next Monday.
The WDAS was operational in the market before it was suspended on January 19, this year, to pave the way for the Retail Dutch Auction System (RDAS).
The new regime was conveyed by the monetary authority to dealers and the general public yesterday through a circular entitled "Revised Guidelines for the Operations of the Foreign Exchange Market: Wholesale Dutch Auction System," dated July 8, with reference number TED/FEM/FPC/GEN/01/110 and signed by CBN's Ag. Director, Trade and Exchange Department, Batari Musa.
Under WDAS, banks buy foreign exchange for themselves and later sell to customers.
The system permits the dealers to buy as they have liquidity and to take positions in the market. But under RDAS, banks bid on behalf of their customers. The monetary authority normally investigates the bids to ensure they are genuine and conform to documentations and guidelines.
The apex bank stated that further to early circular Ref: TED/FEM/FPC/GEN/01/088 of May 22, 2009, it was reintroducing the WDAS to stimulate activities in the inter-bank and stabilise the foreign exchange market.
The CBN Governor, Sanusi Lamido Sanusi, had hinted last Tuesday at his maiden press briefing in Abuja, after the meeting of the Monetary Policy Committee (MPC) that the WDAS had become necessary "as recent measures to stabilise the Naira exchange rate have posted some positive outcomes."
He said the Naira exchange rate had stabilised at the RDAS in recent weeks, while in the other segments, the rates had appreciated, thereby narrowing the arbitrage opportunities.
The Naira traded N146 to one dollar at the official window yesterday and at the parallel market at N154 to a dollar. In March this year, the naira depreciated to as much as N159 to a dollar at the RDAS and N178 at the black market.
According to the guidelines for operating the new system, as outlined by the CBN, "the apex bank shall intervene in the market through the WDAS and shall announce the results on Mondays and Wednesdays."
It requested authorised dealers to submit their bids on Mondays and Wednesdays, and that the CBN reserves the right to reject bids that are deemed to be unrealistic.
"The minimum bid amount by an Authorised Dealer shall be $100,000 and the currencies of transaction shall be the Naira and the United States dollar. The CBN shall announce the result of each Auction by 1.00 pm on the day of auction and the successful bids shall be advised by 2.00 pm on auction day," it stated.
It stated further that Authorised Dealers shall ensure that they have adequate Naira cover in their current accounts with the CBN and that the monetary authority shall promptly debit the current accounts of banks with the Naira equivalent of the foreign exchange purchased at their bid rates.
The CBN stated that it shall effect delivery of foreign exchange purchased by each Authorised Dealer within one business day after the day of the auction result.
It also stated that funds purchased from CBN at the Auction shall be used for eligible transactions only.
But contrary to the position under RDAS, the CBN said such funds shall be transferable in the inter-bank foreign exchange market. It also stated that the CBN might purchase foreign exchange from Authorised Dealers and other participants such as oil companies, at their offer rates.
The Authorised Dealers are meant to quote two-ways and display in their banking halls the buying and selling rates conspicuously, while the spread between the buying and selling rates shall not exceed 50 kobo.
Former Governor of the CBN, Professor Chukwuma Soludo, whose administration adopted the RDAS system said it was to check the excesses of market players who engaged in speculation at the detriment of the local currency which was then suffering continuous depreciation.
The CBN, also, in furtherance of the market liberalisation, increased the foreign exchange Net Open Position (NOP) of banks from 2.5 per cent to 5.0 per cent of shareholders' funds with effect from July 13.
The NOP was reduced by the CBN at the height of forex controls to limit the foreign exchange liquidity position of the dealers.
The CBN spelt out sanctions for violating the market guidelines, which it stated are contained in the provisions of relevant laws and CBN guidelines.


What will be the effect of this on the naira fellow nairalanders?

faulks who in your opinion among Maicon, Alves, Segio Ramos, Bosingwa, etc is the best right full back in the world, remember Real madrid wants to replace Segio Ramos with Maicon, Chelsea is also after Maicon and in Brazil, Maicon when fit always bench Daniel Alves.

For this reason, I think Maicon Unaguably is the best in the world

Viperman, here are the pix of the dashboard

My Dear Nairalander, Can anyone please look at the Pix here and tell me why my speedometer have suddenly change into this?

I noticed it because I was suppose to change my oil today once the speedometer gets to 23000, before it change to what it is now it was showing : ODO 22,900 (smthing like this) but now it just change the ODO to TRIP A, wht pls?.

Thanks

I was using an Antamedia Hotspot Billing Software before, but the system just crash on Saturday, and I don't know where I mispalce the cd that came with the software. The one I downloaded from the internet yesterday is an unregistered version and it keeps restarting every 60 mins and does not allow more that 3 users, can any one help me crack this version? or is there anyone that has any cracked version?

thanks

The bikini is cool not the THING wearing it

Kai!!! Na wa ooo