Director-General of the National Youth Service Corps, NYSC, Brigadier General Suleiman Kazaure, has expressed concern over increased authorized movement and night journeys by corps members, lamenting that some cases of deaths and grave bodily injuries have been recorded due to cases of indiscipline by corps members.

Kazaure, who spoke, yesterday, in Kaiama, Kolokuma Opokuma Local Government, Bayelsa State, while addressing 2016 Batch B Stream II corps members, undergoing orientation course programme, urged corps members to be security conscious, avoid unauthorized journeys and late night travels.

Represented by Director, Procurement, Mr. Yakubu Jok, the NYSC Director General urged corps members to be patriotic and disciplined.

He said: “Very soon the current crop of leaders will phase out. You will be the one to take over from us and the leadership of this country will be in your hands.

“The NYSC programme is designed to prepare you for the leadership and future of this country and to make you better citizens.

“I, therefore, urge you to uphold the tenets of discipline, patriotism and integrity. Shun all acts of indiscipline and respect constituted authority.”

http://www.kikiotolu.com/2017/02/nysc-dg-expresses-concern-of-night.html

Lalasticlala Mynd44 seun Dominique

Residents of Sapele on Monday decried the incessant power outage by the authorities of Benin Electricity Distribution Company (BEDC).

They also condemned the attendant crazy bills by BEDC.

The Speaker, Delta State House of Assembly, Rt. Hon. Monday Igbuya, Chairman of Sapele Local Government Area, Hon Ejaife Odebala, elders and leaders of various political and non political groups in Sapele voiced their dissatisfaction, insisting on electricity for up to 18 hours daily.
At a stakeholders’ meeting in Asaba, the speaker urged BEDC to stop bringing estimated bills.

“Don’t take people for granted. Your actions show great disrespect for all of us. Sapele residents are paying bills. BEDC must provide meters to consumers. The officials must respond to fault reported by consumers. They must communicate” the speaker said.

“The irregularity in power supply has disrupted daily life” he said.

Episcopal Vicar and Dean, St. Patrick’s Catholic Church, Sapele, Very Rev Father Christopher Ekabo suggested ways towards a lasting solution to the crisis.

“At least 12 hours to 18 hours electricity should be given to Sapele. Anything less will not be good for the people. No more estimated bills. Prepaid meters should be made available to curb further collection of money by staffers of BEDC. The load shading should be done in a proper manner. The excuse of none payment of bills should be looked into. Those who pay bills should not suffer the consequences of others” the priest said.

He urged BEDC to make a formal and public apology for it actions.

After a heated argument, the stakeholders agreed on eight hours of power for Sapele.

http://www.kikiotolu.com/2017/02/sapele-residents-insist-on-18-hours.html

Lalasticlala Mynd44 seun Dominique

Determined to enforce the fundamental human rights of its members, Prince Taiwo Konigbagbe, Baba Oba Paramount Stool Yewa land and Mr Dele Ojugbele on behalf of Exodus Poverty Alleviation Welfare Programme, who owns and operates commercial motorcycle, commonly called Okada in Ogun State, have dragged the state government before the state High Court sitting in Ilaro.

Other defendants are Ogun State Commissioner of Police, Ogun State Attorney General, Ogun State Ministry of Inland Revenue Service and 11 others.

In an affidavit on behalf of other applicants, Mr. Konigbagbe is complaining that the fundamental rights of its members were violated by the Ogun State Government and agents of government.

The applicants are asking the court to declare that the defendants have no statutory power to interfere, direct or control the foundation, management and operation of the claimants as Private Okada Commercial Motorcycle Services Operation under Exodus Poverty Alleviation/Welfare Programme.

In an amended statement of claim by their lawyer, Mr. Babatunde Ogabi, the plaintiffs are contending that they have a right to operate as a Private Okada Commercial Motorcycle Service operator under the Exodus Poverty Alleviation programme without the approval, consent and recognition of the defendants.

The plaintiffs are further contending that its member can, under Exodus Poverty Alleviation Programme operate as Private Okada Commercial Motorcycle Service Operators without joining of the other association purportedly recognised and approval by the defendants.

A declaration that the claimants and its members can, under Exodus Poverty Alleviation Programme Operate as Okada Commercial Motorcycle Service Operators under the Exodus Poverty Alleviation Programme in the state.

The applicants are praying the court restrain the respondents from arresting and detaining its members’ motorcycles, in addition to demanding N5 million as compensation for assault and occasioning harm against its members by the defendants agents and privies.

http://www.kikiotolu.com/2017/02/ogun-govt-dragged-to-court-over-alleged.html

Lalasticlala Mynd44 seun Dominique

Prof. Adeniyi Gbadegesin, the Vice-Chancellor, Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, on Monday appealed to the striking lecturers of the institution to return to work.

Gbadegesin told journalists in Ogbomoso that the problem facing the university, jointly owned by Oyo and Osun, was “almost over as the owner state governments had pledged more commitment to fund it’’.

The News Agency of Nigeria (NAN) reports that the institution was closed barely eight months ago as a result of industrial action by the academic staff of the institution.

NAN also reports that management of the institution had earlier announced that the university would re-open on Jan. 27 after eight months of closure, but the Academic Staff Union of Universities (ASUU), LAUTECH Chapter, refused to resume academic activities.

Gbadegesin said that the institution was being owed subvention arrears amounting to N7.1 billion by the owner state governments, with Oyo owing N1.8 billion, and Osun owing N5.3 billion.

“The N5.3 billion owed by Osun was from 2014 till date, while the N1.8 billion owed by Oyo was between 2015 and 2016.

“N296 million is our monthly subvention, Oyo pays from January to June, while Osun pays subvention from July to December every year,” he said.

The vice-chancellor commended Gov. Abiola Ajimobi of Oyo State for initiating a meeting with the management and the university unions, which led to the payment of two months salaries.

“The union agreed with the governor at the meeting that the N250 million each to be paid by the owner states will not be enough for the payment of two months.

“They requested for additional N84 million which Gov. Ajimobi approved immediately.

“Oyo State Government has paid its N292 million, while the remaining N42 million from Osun will be paid any moment from now,” he said.

Gbadegesin said that the monthly wage bill of the institution on the average was N360 million, adding that they had been augmenting the payment with not less than N80 million.

Speaking on resumption, he said that many students had resumed and trying to settle their accommodation, while others were busy with the registration.

Gbadegesin said that in spite of the current economic challenge, Ajimobi had assured at the meeting that the agreement was tentative.

“The governor also promised to set aside some amount for the institution as soon as the state receives its share of the Paris Club excess fund,” the vice-chancellor said.

He said the institution could not be self-sustaining as a public university, adding that it needed regular subvention to function effectively.

Gbadegesin said the institution had set up a board for LAUTECH Ventures to boost its revenue, adding that the council has also agreed to establish an Institute of Software Engineering with Google Engineering.

The vice-chancellor, while acknowledging that the current hardship was due to the nation’s economic recession, said that he was yet to receive any directive on tuition fee increment.

“We are appealing to the owner state governments to continue funding the institution to achieve the dream of the founding fathers. We thank all our unions for their cooperation so far.

“I will like our striking lecturers to consider the interest of the students and return to work.

“The management and staff are determined to ensure the students get the best from the institution,” he said.

Gbadegesin also thanked parents for their concern and patience during the eight months strike. (NAN)

http://www.kikiotolu.com/2017/01/lautech-vc-pleads-with-lecturers-to.html

Lalasticlala Mynd44 seun Dominique

The NYSC Director-General, Brigadier General Sulaiman Kazaure, has enjoined Corps members to resist the temptation to engage in sharp practices.

Kazaure gave the advice while addressing 2016 Batch ‘B’ (Stream II) Corps members at the NYSC Orientation camps in Bauchi and Gombe states.
He urged them to make honesty their watchword while also ensuring diligence in the discharge of their assignments.

“I want you to know that there is no shortcut to success. As graduates, who have been found worthy in character and learning, you are expected to work hard and avoid acts that can tarnish the image of your families,” he said.

The Director-General also urged them to be in the vanguard for the eradication of corruption noting that it had remained the bane of development.

He assured the Corps members that the NYSC Management accorded topmost priority to their safety and general welfare but advised them against engaging in risky activities.

Kazaure also told them to avail themselves of opportunity for self-employment through NYSC Skills Acquisition and Entrepreneurship Development programme.

Welcoming the Director-General to the Gombe camp, the State Coordinator, Mr. Tobias Ibeh, said steps had been taken to make the Corps members comfortable despite the temporary nature of the camp at Government Science Technical College, Gombe.

He, however, appealed to the state government to allow the resumption of Orientation course at the permanent camp located at Malam Sidi.

In Bauchi State, the Coordinator, Mr. James Afolayan, said the Orientation had been hitch-free with camp officials working diligently towards ensuring success.

He said adequate security had been provided in the camp through round-the-clock surveillance and other measures.

http://www.kikiotolu.com/2017/01/nysc-dg-cautions-corps-members-against.html

Lalasticlala Mynd44 seun Dominique

Abuja—The Central Bank of Nigeria, CBN, has denied allegations of irregularities in the foreign exchange, forex, transactions among Deposit Money Banks, DMBs and insisted that process remains transparent.

Reacting to allegations that some banks were using different rates for different forex end-users, in connivance with officials of the apex bank, CBN’s spokesman, Mr, Isaac Okoroafor, in a statement, yesterday, that there was nothing as such.

Okoroafor, said however, that some banks that were discovered to have published inaccurate data were queried but that they explained that it was due to formatting errors which did not affect the true rates.

He said, “Following media reports alleging irregularities in the rates at which foreign exchange was obtained by some individuals and companies from different Deposit Money Banks DMBs, under the new [60:40] foreign exchange policy by the CBN, which prioritises forex sales to manufacturers, agriculture, plant and machinery, critical raw materials, among others, we wish to make the following clarifications:

“The CBN neither allocates foreign exchange nor does it deal directly with bank customers.

“The CBN does not fix forex rates for transactions by individuals or companies; In line with our principle of transparency, we directed DMBs to forward to us evidence of forex sale to end users and to advertise same in national dailies.

“Since the introduction of the new forex Policy in 2016, we have published, monthly, the evidence of sale from DMBs, as received from the banks and without any alteration by us in the spirit of transparency. We have recently observed, however, that some DMBs forwarded inaccurate data, which were erroneously published and gave a wrong impression of disparate rates.

“The DMBs involved in providing inaccurate data have since been issued queries accordingly. Some have returned a response indicating that some of the figures were related to formatting errors, which do not affect the true rates of the affected transactions.

“As the constitutionally authorized industry regulator mandated to manage the forex market, maintain external reserves and to safeguard the international value of the legal tender currency, we wish to state unequivocally that the CBN has a duty to perform and would not indulge in acts capable of discrediting the forex market.

“We therefore, wish to reiterate that the sale of forex under the new policy is most transparent and it is not intended to benefit any individual or corporate body in anyway.”

http://www.kikiotolu.com/2017/01/forex-exchange-cbn-queries-banks.html

Lalasticlala Mynd44 seun Dominique

Despite the economic recession, the Global Retail Development Index says Nigeria’s retail sector made a national sale of N38tn ($125bn) in 2016.

The country also ranked 19th out of the 30 top developing countries for retail investment, based on all relevant macroeconomic and retail-specific variable.

According to the report, Nigeria’s retail development is supported by a middle class that has grown by 600 per cent in the last few years and now includes 4.1 million households, or 11 per cent of the country’s total population.

It added that retail in developing countries had seen excellent growth, and while the developing world population had grown by 21 per cent to 6.2 billion, retail sales in those markets had increased more than 350 per cent and represented more than a half of the total global retail sales.

“Despite the economic growth being tempered by low oil prices, constrained government expenditure and consumer spending, which took a hit in 2015, plummeting nine per cent as inflation made consumers more careful with their shopping, Nigeria still offers global retailers many opportunities,” the report said.

It added, “Modern trade is still underdeveloped, and aside from incumbent Shoprite and SPAR, few international grocers have entered and none has a real national presence. Nigeria poses some tough challenges to navigate, including import regulations, high rental costs, and power shortages—and there still isn’t an authoritative map of Lagos, let alone other major metropolitan areas. South Africa-based fashion retailer Truworths, closed its two remaining Nigerian stores due to this environment.

“Still, other retailers are placing their bets. Spanish discounter DIA plans to open more than 100 stores by 2020, and South Africa’s Pepkor plans to double its presence by 2018. Mall developments in Lagos and Abuja are also spurring growth. South Africa’s Resilient Group has four mall developments planned for completion between 2016 and 2017.”

The report noted that sub-Saharan Africa region’s massive potential was unmistakable, and reflected in the six Sub-Saharan African countries ranked in the GRDI.

Exciting opportunities keep opening up as household incomes rise, countries become urbanised, and the rising middle class embraces organised retail and demands more and better services. However, informal trade still dominates and expanding into the region remains far from easy,” it stated.

The Chairman, Nigerian Institution of Estate Surveyors and Valuers, Lagos branch, Offiong Ukpong, said that the country had all the economic indices to boost retail development despite the economic downturn.

He said, Nigeria’s economy remained the biggest in Africa and prior to this government, Nigeria was targeted to be among the 15 developing countries by 2030.

He said, “All indices in terms of development show that there are chances of increase in activities.

“The retail market is doing well and while the government may not have money at the moment, there are individuals who are growing the economy. Nigerians also travel far and if there is no money in the country, those who travel still find a way to bring in money into the country.”

Ukpong however said that the recession had taken a huge toll on the real estate sector.

“There is a problem of getting people to pay for accommodation and take up new accommodation,” he added.

http://www.kikiotolu.com/2017/01/nigeria-ranks-19th-among-30-nations-in.html

Lalasticlala Mynd44 seun Dominique

The National Youth Service Corps (NYSC), says it will soon establish skills acquisition centres in the six geo-political zones to train corps members in various trades.

“The idea behind the establishment of the centres is to give all corps members the training to become self reliant after their service year,” NYSC Director General, Brig.- Gen. Suleiman Kazure said.

He told the 5,000 corps members deployed to Katsina State on Saturday in Katsina that the skills acquisition centres would be established with the support of the Central Bank of Nigeria and Bank of Industry.

Kazaure urged the corps members to concentrate and learn the necessary skills during training on entrepreneurship and skills acquisition.

“The NYSC wants you to start your own businesses or trades immediately after service year instead of waiting for the jobs that will take years to get.

“We don’t want our ex-corps members to be roaming the streets of Abuja, Kaduna, Lagos, Enugu and Port Harcourt looking for white collar jobs.

“The truth of the matter is that the white collar jobs are in short supply and only lucky ones among you will get the jobs,” he said.

The Director General called on the corp members not to be arrogant while undergoing training, as it would offer them opportunities to become millionaires in their chosen trades.

Kazaure warned them against embarking on unnecessary journeys, as anyone found would be sanctioned according to the rules of the NYSC.

He appealed to them to respect the culture and tradition of the people of the state, assuring them that Katsina State is one of the most peaceful states in the country.

http://www.kikiotolu.com/2017/01/nysc-to-establish-skills-acquisition.html

Lalasticlala Mynd44 seun Dominique

The Central Bank of Nigeria, CBN, yesterday, said some powerful interests are funding efforts to push the Federal Government to reverse the foreign exchange policy aimed at conserving the nation’s foreign reserves.

In a statement by the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, the apex bank said: “Intelligence reports at the disposal of the bank reveal the involvement of some influential interests funding the push to have the CBN and the Federal Government reverse the FOREX policy, which is aimed at conserving foreign exchange and also promoting exports.

“The Central Bank of Nigeria (CBN) has observed with great concern the continued and unwarranted attack on its policies by a group of Nigerians, whose real interest, findings have shown, is self-serving and unpatriotic.

“While the CBN respects the rights of every Nigerian or stakeholder to their respective views, it finds it curious that certain interests have remained persistent in their move to misinform the larger public, with the intention of discrediting genuine efforts at managing the economy, thereby creating panic within the financial system.”

http://www.kikiotolu.com/2017/01/powerful-interests-funding-push-to.html

Lalasticlala Mynd44 seun Dominique

The Director-General, Brigadier General Sulaiman Kazaure, has advised Corps members to always be security conscious wherever they find themselves.

Kazaure gave the advice while addressing the 2016 Batch ‘B’ (Stream II) Corps members at the NYSC Permanent Orientation Camp, Karaye, Kano.

He was speaking against the backdrop of the dislodgement of Boko Haram from Sambisa Forest by the Nigerian Armed Forces.

According to him, the fleeing terrorists seem to be seeking soft targets.

The Director-General, therefore urged them to alert security agencies to any suspicious persons or movements.

Kazaure assured the Corps members that the NYSC Management remained committed to their security and general welfare.

He advised them to shun corruption and other vices, stressing that they must work hard in any endeavour they are posted for primary assignment.

Earlier, the NYSC State Coordinator, Malam Baba Ladan said the registration exercise went without hitch.

Ladan said the Corps members had demonstrated high sense of discipline since arriving the camp.

During a meeting with NYSC staff, the Director-General reaffirmed his administration’s commitment to promoting their welfare.

He also spoke of plans to develop staff training modules that would help to enhance competence and productivity.

The Director-General had earlier joined other dignitaries to witness the swearing-in ceremony of the 2016 Batch ‘B’ (Stream II) Corps members at the Orientation Camp parade ground.

Governor of Kano State, Dr. Abdullahi Umar Ganduje, was represented by the Commissioner for Information, Comrade Muhammad Garba.

http://www.kikiotolu.com/2017/01/nysc-dg-advises-corps-members-on.html

Lalasticlala Mynd44 seun Dominique

India’s largest mobile-phone operator, Bharti Airtel Ltd. is considering mergers or stake sales at some of its Africa operations.

It explained that the measures became necessary for it to reduce its debt burden and make its offshore acquisition profitable.

Its Chairman, Sunil Bharti Mittal, who stated this in an interview with Bloomberg, at the World Economic Forum in Davos, Switzerland, said some of the firm’s businesses in 15 African countries would be affected by the cut.

This could result in job cuts at various levels and shrinking of businesses in its countries of operations in Africa including Chad, Democratic Republic of the Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Seychelles, Tanzania, Uganda and Zambia.

Mittal further said the cut in operations in the continent could be completed within a year.

Faced with an escalating price war in its home market, Bharti is looking for ways to pare net debt equivalent to about $12 billion as of September.

The company has sold its Sierra Leone and Burkina Faso operations, as well as some of its tower businesses, as it reorganises the assets it bought in 2010 in a $9 billion deal with Kuwait’s largest mobile-phone operator, Zain.

Bharti’s African unit lost $91 million in the quarter ended September, compared with a $170 million loss in the previous year. As part of the debt reduction, Bharti is also considering selling a stake in BhartiInfratel Ltd, its tower unit.

The Association of Telecoms Companies of Nigeria (ATCON) has urged the Federal Government to address the shortgae of foreign exchange (forex) in the country so that they could improve on capacity and service delivery.

http://www.kikiotolu.com/2017/01/airtel-reviews-operation-cut-in-nigeria.html

Lalasticlala Mynd44 seun Dominique

The Joint Admissions and Matriculation Board (JAMB) yesterday disclosed that it has agreed on a harmonised time-table with other examination bodies (WAEC, NECO, NABTEB) ahead of 2017 Unified Tertiary Matriculation Examination (UTME) to ensure a hitch free examination.

According to the JAMB’s Spokesman, Dr. Fabian Benjamin, in a statement in Abuja, the harmonised examination timetable had put to rest problems arising from overlapping of examination dates which would have disqualified a goof number of candidates from participating in the examination.

It was resolved at the meeting that WAEC from 2018, between March and April, will create a window of two weeks where all other examinations that have nothing to do with Nigeria will be held so as to allow a window for JAMB to conduct its examination.

The statement also revealed that the examination bodies agreed that for the purpose of the 2017 UTME, JAMB would shift its examinations to allow students face WAEC, NECO and NABTEB.

“However, a 10-day window for JAMB’S UTME has been created by all examination bodies for JAMB to conduct its examination.

In view of this, JAMB will soon announce the commencement of sale of the 2017/2018 admission forms for UTME and Direct Entry (DE).” the statement added.

http://www.kikiotolu.com/2017/01/jamb-to-start-2017-sales-of-form-soon.html

Lalasticlala Mynd44 seun Dominique

Globacom has introduced a new product, Glo Flexi Recharge, which permits subscribers to use data and voice without paying separately for fixed data and voice bundles.

The company said the Flexi Recharge offers customers credit for calls and internet-related services, which means that its subscribers will no longer need to purchase data bundles for internet connectivity and another for calls.

“With Glo Flexi Recharge, subscribers will get data benefit by default. Subscribers do not need to worry about buying data plans. Once they are on Glo Flexi Recharge, they will be able to make calls, send SMS, browse, or use social media network platforms such as Facebook, WhatsApp, Instagram etc, just like subscribers who purchase data bundles. We have made data access very simple for our customers”, Globacom said in a statement.

“Glo Flexi Recharge is consistent with our determination to deliver unbeatable value to our esteemed subscribers regardless of their lifestyles. We go to great lengths to create special packages to suit the lifestyles of our various subscribers,” the company said.

The foremost telecommunications company said Glo Flexi Recharge is a product of serious and careful planning and is aimed at making life easier for subscribers.

Globacom has enjoyed steady growth in the number of data subscribers on the Globacom network. This feat has been attributed to its massive investment in infrastructure, including the Glo 1 undersea cable and the extensive fibre optic cable that criss-crosses the length and breadth of the country.

This has enabled the telco to deliver unmatched capacity of data anywhere at the most affordable prices. Globacom has also launched several attractive and user-friendly packages which offer a lot of appeal to data users.

http://www.kikiotolu.com/2017/01/glo-unveils-flexi-recharge-for-calls.html

Lalasticlala Mynd44 seun Dominique

The Dangote Group is a diversified and fully integrated conglomerate with interests across a range of sectors in Nigeria and Africa. Current interests include Cement, Sugar, Flour, Salt, Pasta, Beverages, Noodles, Poly Products, Transportation and real estate with new initiatives in the Oil and Gas, Telecommunication, Fertilizer and Steel sector of the economy.

We are recruiting to fill the position below:.

1.) Customer Service Representative
2.) Executive Assistant to MD, NASCON

Location: Lagos
Organization: Nascon Allied Industries Plc. (NASCON)
Employment Type: Full Time

Requirement:
Proficiency in one or two Nigerian languages, an advantage.

Application Closing Date
30th January, 2017.

Method of Application
Interested and qualified candidates should send their CV’s and cover letters to: careers@dangote.com

http://www.kikiotolu.com/2017/01/2017-graduate-recruitment-at-dangote.html

Access Bank Plc is a financial institution with presence in 9 countries in Africa and the United Kingdom and in all major cities in Nigeria. Also referred to as the Africa’s Bank of Best Practise, Access Bank operates on a platform of strong ethics, governance and professionalism.

Applications are invited for:

Job Title: Access Bank Plc Entry-Level Training Programme (Executive Trainee)
Location: Any City, Nigeria

Job Descriptions
- Are you driven, confident and enthusiastic about the banking industry?

- Would you like to make your passion your career?

- Are you willing to join us in our journey to becoming a world-class financial institution? The Access Entry Level Training Programme is just for YOU!

- Your career journey with us starts with a 4-month intensive training program at the School of Banking Excellence, giving you an opportunity to be trained with other high calibre applicants.

What we are looking for
Executive Trainees:

- A graduate with a minimum of a second class upper division from a university acceptable to the bank, NYSC certificate and a maximum age of 24 years for Bachelor degree holders, 26 years for lawyers with a law degree.

- A graduate with a minimum of a second class lower from a university acceptable to the bank or a Masters’ degree from top tier Universities acceptable to the Bank and a maximum age of 26 years.

Application Closing Date
9th February, 2017.

How to Apply
Interested and qualified candidates should visit the link below:

https://www.accessbankplc.com/career

http://www.kikiotolu.com/2017/01/access-bank-plc-graduate-executive.html

Lalasticlala Mynd44 seun Dominique

Worried by the nefarious activities of unqualified individuals in the trade and distribution of drugs , House of Representatives has mandated the Federal Ministry of Health and the Pharmacists Council of Nigeria, PCN, to immediately shut down all unregistered pharmaceutical shops within the country and discipline the culprits accordingly.

Pursuant to Act P17 LFN 2004 and other relevant Pharmacy and Drugs Laws of the Federation, the PCN has mandate to inspect, approve and license premises where pharmaceutical activities take place (manufacturing, importation, distribution,wholesale and retail pharmaceutical premises and patent and proprietary medicine vendors shops).

Deliberating on the “need to regulate the establishment of pharmaceutical shops and drug stores” on Thursday December 1, 2016, the House urged the “Federal Ministry of Health and the Pharmacists Council of Nigeria to commence inspection of all pharmaceutical shops with a view to closing down all those that are not duly registered and to carry out disciplinary measures against the defaulters”.

The House acknowledged the categories of pharmaceutical shops and the scope of their practice as well as the peculiar needs of each in terms of man power, equipment and premises specification but expressed concern that one-room apartment pharmaceutical shops, otherwise known as “chemist shops” exist in all sort of locations and buildings which lack basic facilities and in most cases manned by laymen.

Further, the House observed that some “spiritual and healing homes masquerading as worship centers or charity homes operate freely as drugs and medicines dispensaries, while some local manufacturers of drugs and medicines use all sorts of rickety vehicles to advertise and sell their drugs and medicines”, noting that these unprofessional ways of warehousing, distribution and dispensing of drugs and medicines serve as channels for the infiltration of quacks into the pharmacy profession and a major challenge to public health.

“The infiltration of the pharmaceutical practice by unqualified persons and the attendant unprofessional services being rendered by these people have resulted to the death of countless number of innocent Nigerians, not counting the economic losses due to the supply and purchase of fake, expired and unwholesome drugs and medicine”, the House said.

The Registrar of the PCN, Pharm. Elijah Mohammed, expressed gratitude to the House and said the resolution came at a time when the Council had stepped up its enforcement activities.

He acknowledged that it served to strengthen the Council influshingout the quacks and will help to win theneeded peace in the pharmacy practice environment.

http://www.kikiotolu.com/2017/01/house-of-reps-orders-closure-of.html

Lalasticlala Mynd44 seun Dominique

The National Youth Service Corps, NYSC, and the Joint Admission Matriculation Board, JAMB, have agreed to set up a bilateral committee to address issue of abuse of regularization of admissions by corps producing institutions.

This followed a complaint by the NYSC management to JAMB alleging irregularities in the process, thereby making mobilization of prospective corps members difficult for it.

“In view of the abuse the regularization of admissions has been subjected, JAMB should revise the window of post-graduation regularization by introducing measures that will make it impossible for institutions to abuse the process,” NYSC had stated in a letter to JAMB.

It is now compulsory for all graduates to be cleared by JAMB to qualify for mobilization by the NYSC.

During a meeting of the two executives, yesterday, in Abuja, the Registrar of JAMB, Prof. Ishaq Oloyede confirmed the abusiveness, lamenting the rate some students are desperate to regularise their admissions.

Quoting the NYSC letter, Oloyede noted that the board had taken measures to address the issue.

He said: “A new template has been designed by the Board for all candidates who need to be regularised and is to be completed online.

” After completing the forms online, a candidate will print an indemnity form which must be endorsed by his / her Vice Chancellor/Rector/Provost and submitted to the state JAMB office.

This is to ensure that only genuinely admitted candidates are regularized.”

The don disclosed that from the last quarter of 2016, they received 953 applications for change of date of birth with 77 out of it approved. 68 applications for change of state/local government area, 39 applications approved, 518 applications for correction of name and 423 approved.

He stressed the need for interagency collaboration to be able to perform optimally, noting that lack of synergy among government agencies is responsible for lapses.

Responding, the Director General of the NYSC, Brig-General Suleiman Kazaue solicited cooperation of JAMB to have acess to the number of students admitted on yearly basis.

He supported the idea of tripartite meeting of JAMB, NUC and NYSC to address some irregularities, stating that it is unfortunate that some institutions are sending part-time graduates for mobilization.

http://www.kikiotolu.com/2017/01/jamb-nysc-set-up-committee-on.html

Lalasticlala Mynd44 seun Dominique

​The Oyo State Board of Internal Revenue is a State Revenue Agency that derives its existence from the Personal Income Tax Act Law of the Federation 2004, which stipulates the establishment of the “The Board of Internal Revenue” by all the States of the Federation.

In keeping with the mandate for the OYIRS, the Oyo State Government is seeking individuals with common dedication who are high-achieving, highly dynamic and innovative with proven target driven orientation to fill the following positions below in the newly established OYIRS:

1.) Executive Chairman, Board of Internal Revenue

2.) Director (Tax Operation)

3.) Director (Tax Audit/Investigation)

4.) Director (Policy, Research and Communication)

5.) Director (Finance and Administration)

6.) Director (Legal Services and Board Secretary)

7.) Deputy Director (Tax Operation)

8.) Deputy Director (Tax Audit/Investigation)

9.) Deputy Director (Policy, Research and Communication)

10.) Deputy Director (Finance and Administration)

11.) Deputy Director (Legal Services and Board Secretary)

12.) Assistant Director (Tax Operation)

13.) Assistant Director (Tax Audit/Investigation)

14.) Assistant Director (Policy, Research and Communication)

15.) Assistant Director (Finance and Administration)

16.) Assistant Director (Legal Services and Board Secretary)

17.) Revenue Manager (Tax Operation)

18.) Revenue Manager (Tax Audit/Investigation)

19.) Revenue Manager (Policy, Research and Communication)

20.) Revenue Manager (Finance and Administration)

21.) Revenue Manager (Legal Services and Board Secretary)

22.) Deputy Revenue Manager (Tax Operation)

23.) Deputy Revenue Manager (Tax Audit/Investigation)

24.) Deputy Revenue Manager (Policy, Research and Communication)

25.) Deputy Revenue Manager (Finance and Administration)

26.) Deputy Revenue Manager (Legal Services and Board Secretary)

27.) Assistant Revenue Manager (Tax Operation)

28.) Assistant Revenue Manager (Tax Audit/Investigation)

29.) Assistant Revenue Manager (Policy, Research and Communication)

30.) Assistant Revenue Manager (Finance and Administration)

31.) Assistant Revenue Manager (Legal Services and Board Secretary)

32.) Revenue Officer (Tax Operation)

33.) Revenue Officer (Tax Audit/Investigation)

34.) Revenue Officer (Policy, Research and Communication)

35.) Revenue Officer (Finance and Administration)

36.) Revenue Officer (Legal Services and Board Secretary)

37.) Assistant Revenue Officer (Tax Operation)

38.) Assistant Revenue Officer (Tax Audit/Investigation)

39.) Assistant Revenue Officer (Policy, Research and Communication)

40.) Assistant Revenue Officer (Finance and Administration)

41.) Assistant Revenue Officer (Legal Services and Board Secretary)

42.) Senior Revenue Supervisor (Tax Operation)

43.) Senior Revenue Supervisor (Tax Audit/Investigation)

44.) Senior Revenue Supervisor (Policy, Research and Communication)

45.) Senior Revenue Supervisor (Finance and Administration)

46.) Senior Revenue Supervisor (Legal Services and Board Secretary)

47.) Revenue Supervisor (Tax Operation)

48.) Revenue Supervisor (Tax Audit/Investigation)

49.) Revenue Supervisor (Policy, Research and Communication)

50.) Revenue Supervisor (Finance and Administration)

51.) Revenue Supervisor (Legal Services and Board Secretary)

52.) Manager, Corporate Affairs Unit

53.) Manager, Internal Audit Unit

54.) Manager, Information Technology Unit

Basic Requirement:

- A Bachelor or Master’s Degree in Accounting, Law, Economics, Banking & Finance, Statistics, or other relevant discipline in the quantitative field Or

- A Higher National Diploma in Accounting, Economics, Banking & Finance, Statistics, or other relevant discipline in the quantitative field.

How to Apply

Interested and qualified candidates should submit copies of their CV’s, along with a cover letter to: submissions@oysirs.net.ng and stating the position applied for in CAPITAL letters in the subject of the email.

Application Closing Date

31st January, 2017.

http://www.kikiotolu.com/2017/01/oyo-state-board-of-internal-revenue.html

I can feel the excitement building amongst Prospective Corp Members of 2016 Batch B Stream II. Am sure many of you are set for this years orientation program (even over prepared based on the delayed posting). You might find this up-to-date information on the amount paid by various states as allowance. This information is valid for both 2016 Batch B Stream 2 and 2017 Batch A corp members. Though the fees in this list might change, I can assure you that they are accurate as of today and we are going to be updating once changes occur.

Though there have been calls by Nigerians for an increment in the allowance for youth Corpers in the country, there has been no change or review of the structure. You are sure to agree with me that the N19,800 (N19,700) which the Federal Government pays every youth Corper is substantial and cannot cover up for the basic needs of am average youth. Many youth Corpers end up calling home for financial assistance during their service year which is not ideal. Some state Governments have intervened in the situation by also paying Youth Corpers in their state a particular amount of money.

A lot of States on this list are not paying a dime to Youth Corpers and you just have to stay positive all through your service year.

 Abia State Government pays NYSC members N5,000 monthly

 Adamawa State Government doesn't pay NYSC members

 Akwa Ibom State Government pays NYSC members N4,900 monthly

 Anambra State Government doesn't pay NYSC members

 Bauchi State Government pays NYSC members N1,250 Monthly.

 Bayelsa State Government pays NYSC members N3,000 Monthly

 Benue State Government doesn't pay NYSC members

 Borno State Government pays NYSC members N1,000

 Cross River State Government pays NYSC members N3,090 Monthly

 Delta State Government pays NYSC members N5,000 Monthly

 Ebonyi State Government pays NYSC members N15,000 Monthly

 Edo State Government doesn't pay NYSC members

 Ekiti State Government doesn't pay NYSC members

 Enugu State Government pays NYSC members N10,000 monthly

 FCT Abuja doesn't pay NYSC members monthly allowance

 Gombe State doesn't pay NYSC members monthly allowance

 Imo State Government pays NYSC members N2,000 though not steady

 Jigawa State Government pays NYSC members N5,000 monthly

 Kaduna State Government pays NYSC members N3,000 monthly

 Kano State Government pays NYSC members N4,000 Monthly

 Katsina State doesn't pay NYSC members monthly allowance

 Kebbi State doesn't pay NYSC members monthly allowance

 Kogi State doesn't pay NYSC members monthly allowance

 Kwara State doesn't pay NYSC members monthly allowance

 Lagos State Government pays NYSC members N10,000 Monthly

 Nasarawa State Government pays NYSC members N3,000 Monthly

 Niger State doesn't pay NYSC members monthly allowance

 Ogun State Government pays NYSC members N5,000 Monthly

 Ondo State doesn't pay NYSC members monthly allowance

 Osun State doesn't pay NYSC members monthly allowance

 Oyo State doesn't pay NYSC members monthly allowance

 Plateau State doesn't pay NYSC members monthly allowance

 Rivers State doesn't pay NYSC members monthly allowance

 Sokoto State Government pays NYSC members N4,000 monthly

 Taraba State Government pays NYSC members N10,000 Monthly

 Yobe State Government pays NYSC members N2,500 Monthly

 Zamfara State Government pays NYSC members N3,000 Monthly

As you can see from the above list Ebonyi state Corpers are the highest paid in the country. Wish you all a happy stay. Cheers

http://fabinfos.com/category/nysc/

Lalasticlala Mynd44 seun Dominique

The National Youth Service Corps and the Federal Ministry of Environment have signed a Memorandum of Understanding on mass afforestation as a way of curbing the menace of desertification across the country.

The programme, which is called the ‘Great Green Wall’, is aimed at establishing a 15km wide and 1,500km long permanent shelter belt from Kebbi to Borno State and spanning over other eleven states of the federation.

It is also expected to deliver about one million trees annually through the involvement of Corps members nationwide.

In his remarks at the signing of the MoU, the NYSC Director-General, Brigadier General Sulaiman Kazaure, said the menace of desertification, gully erosion as well as flooding and environmental pollution are enormous; hence the need for the government and civil societies to collaborate and evolve strategies for massive afforestation.

The Director-General, who was represented by the Director, Community Development Service and Special Projects, Mrs. Rhoda Kwaki, stated that different types of land degradation processes had posed threat to economic development and security of the nation.

“The challenges of erosion and desertification in Nigeria are enormous and urgent steps need to be taken to address these.

“The mass afforestation programme is, therefore, a governmental effort at addressing the trend in forest depletion which includes free seedling, tree plantation establishment, shelter belt development and public enlightenment targeting the rural communities,” Kazaure added.

Also speaking, the representative of the Federal Ministry of Environment, Dr. Ehi-Ebewete, said the partnership would help to achieve the set objectives in raising the level of tree planting and maintenance culture with the involvement of Corps members.

Ehi-Ebewete added that the programme would complement government’s efforts in enhancing annual tree campaign, plantation establishment, agro-forestry, afforestation among other benefits.

She said: “All these programmes have the potential of reducing land degradation, promote natural resources conservation, poverty alleviation, food security, livelihood enhancement, employment generation and improved resilience to climate change.”

http://www.kikiotolu.com/2017/01/nysc-partners-ministry-of-environment.html

Lalasticlala Mynd44 seun Dominique Fynestboi

Professor Adetowun Ogunsheye is the first female professor in Nigeria.

Born on the 5th of December 1926 to parents who were teachers at a missionary school in Benin City, Adetowun was allowed to go beyond secondary.

She attended Yaba Higher College in 1946 where she was the only female student and the first woman to graduate from the institution when she obtained the Higher College Teaching Diploma in 1948.

A year later, she was granted a scholarship to read Geography at the Newnham College of the University of Cambridge, thereby becoming the first Nigerian female to study at Cambridge.

She returned to Nigeria in 1954 as a geography teacher and taught at the Anglican Girls’ Grammar School, in Ilesha and the St. Anne’s School in Ibadan.

Few years later, she started working at the University of Ibadan as Chief of department of Library Studies and then became the Professor of Library Studies and the first female Professor in Nigeria in 1973.

Professor Adetowun Ogunsheye was also the first female Dean of Education in a Nigerian university, University of Ibadan, between 1977 and 1979.

On the 5th of December, 2016, Professor Adetowun Ogunsheye clocked 90 years.

Below are some of the things she is First at

* First Woman to study in and successfully complete at the Yaba Higher College Diploma
* First Nigerian Woman to study in Cambridge University.
* First Nigerian Woman Professor 1972
* First Nigerian Woman Dean of Education 1977-79.

http://www.kikiotolu.com/2017/01/first-nigerian-woman-to-study-at.html

Lalasticlala Mynd44 seun Dominique

Fidelity Bank Plc on Tuesday said an outstanding sum of N64 million would still be disbursed to its account holders and customers under the ‘Get Alert in Millions Savings’ promo targeted at deepening financial inclusion.

Mrs Chijioke Ugochukwu, the bank’s Executive Director, Shared Services, stated this at the first quarter edition presentation ceremony of the bank’s Get Alert In Million Savings Promo in Lagos.

Ugochukwu said the bank had so far distributed a total of N32 million to winners that emerged since the promotion started in August 2016.

She called on the account holders and customers to key into the bank’s financial empowerment strategy programme, before the closure of the promotion.

Ugochukwu said that the promo was part of efforts at supporting and encouraging the culture of savings in Nigeria and financial inclusion.

She said that the promo, which was the sixth in the series the bank had conducted in the last nine years, was structured to make savings account holders millionaires.

Ugochukwu said that the bank was committed to wealth creation among its customers, adding that the promo had provided a great impact in the lives of the winners and their families.

Customers that were rewarded with cash prizes for the fourth monthly promo across the country included Baba Ali Yusuf, a Maiduguri branch customer who won N1 million and Samuel Benjamin Idoroh in Abuja, who also won N1 million, among others.

Attah Maria Edugwu, a Lagos customer who won N1 million, expressed her gratitude to God for using the bank to add value to her life.

“This is the first million in my account this year and I pray it will continue to be so,” she said.

Edugwu said that she would use the money to buy land and venture into fish farming.

http://www.kikiotolu.com/2017/01/savings-promo-fidelity-bank-to-share.html

Lalasticlala Mynd44 seun Dominique

The national youth service corps (NYSC) has alerted the general public of a fake facebook account of the Director General of the service SZ Kazaure.

The NYSC raised the alarm bell on Tuesday after discovering the activities of fraudsters impersonating the DG.

According to NYSC management: “The attention of the NYSC Management has been drawn to the activities of some unscrupulous elements who created a facebook account with NYSC Director-General’s name SZ Kazaure with user ID https://web.facebook.com/profile.php…) thereby impersonating him in their posts”.

“Management wishes to inform the general public that the facebook account does not belong to Director-General of the NYSC (National Youth Service Corps)”.

“The Corps Members, Prospective Corps Members and general public are therefore warned to desist from interacting with the account to prevent themselves from falling victim of scams and other evil intentions of the initiator”.

However, the disclaimer by NYSC management did not clarify the authentic facebook account of the DG.

http://www.kikiotolu.com/2017/01/nysc-alerts-public-of-fake-facebook.html

Lalasticlala Mynd44 seun Dominique

Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to an entrepreneur, but not everyone can find one in person.

If you haven’t yet found your personal business guru, here are 21 tips for young or aspiring entrepreneur to help get you started.

1. Challenge yourself.
Richard Branson says his biggest motivation is to keep challenging himself. He treats life like one long university education, where he can learn more every day. You can too!

2. Do work you care about.
There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk.
We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.

4. Believe in yourself.
As Henry Ford famously said, “Whether you think you can, or think you can’t, you’re right.” Believe that you can succeed, and you’ll find ways through different obstacles. If you don’t, you’ll just find excuses.

5. Have a vision.
The founder and CEO of Tumblr, David Karp, notes that an entrepreneur is someone who has a vision for something and a desire to create it. Keep your vision clear at all times.

6. Find good people.
Who you’re with is who you become. Reid Hoffman, co-founder of LinkedIn, noted that the fastest way to change yourself is to hang out with people who are already the way you want to be.

7. Face your fears.
Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle — the more she exercised it, the stronger it became.

8. Take action.
The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

9. Do the time.
No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

10. Manage energy, not time.
Your energy limits what you can do with your time, so manage it wisely.

11. Build a great team.
No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

12. Hire character.
As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

13. Plan for raising capital.
Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

14. Know your goals.
Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

15. Learn from mistakes.
Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success — even though you initially failed.

16. Know your customer.
Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

17. Learn from complaints.
Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

18. Ask for customers’ input.
Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

19. Spend wisely.
When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

20. Understand your industry.
Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

21. Deliver more than expected.
Google’s Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.

Being a successful entrepreneur takes a lot of work, a lot of vision and a lot of perseverance. These 21 tips, from entrepreneurs who have already found success, will help you navigate the path much more easily.

http://www.kikiotolu.com/2017/01/21-success-tips-for-young-and-aspiring.html

Lalasticlala Mynd44 seun Dominique

The Nigeria Liquefied Natural Gas Limited (NLNG) said it has started the supply of liquefied petroleum gas (LPG), commonly called cooking, to Lagos to ease its shortage and attendant high prices.

The firm in a statement endorsed by its General Manager, External Relations, Kudo Eresia-Eke said NLNG’s LPG vessel successfully discharged 13,000 tonnes of LPG to Lagos jetty at the weekend. He added that the vessel is scheduled to return to NLNG’s facility in Bonny to reload the product.

“NLNG continues its efforts to ensure adequate supply and price stability to the market,” he added. Nigeria LNG is the sole local supplier of the cooking gas to the domestic market. LPG marketers complement such supply with imported LPG from the neighbouring countries such as Niger Republic.

Meanwhile, the West Africa Gas Ltd (WAGL), a joint venture firm of the Nigerian National Petroleum Corporation (NNPC) and Sahara Energy will today, unveil two LPG vessels in Ulsan, South Korea that would be game changer in the LPG supply network.

It raised the hope that the supply logjam that impedes stable availability of the product would soon become history.

Its Group Managing Director, Dr MaikantiBaru, who spoke at a Pre-Naming Ceremony Dinner yesterday in Ulsan, South Korea, said he was delighted that the venture which was established in 2014 had started to record success even within a short span.

NNPC Group General Manager, Group Public Affairs Division, Mr. NduUghamadu, who disclosed this in a statement, noted that Baru said the milestone was a boost LPG business in Nigeria.

As it is customary, ships are named by the spouses of the sponsors, often referred to as “godmother of the vessels”.

In this case, spouses of the GMD and COO Gas & Power will perform the naming ceremony.

http://www.kikiotolu.com/2017/01/nlng-floods-lagos-with-13000-tonnes-of.html

Lalasticlala Mynd44 seun Dominique

The Naira on Monday stabilised at N497 to a dollar at the open market just as stakeholders expressed hope in its imminent recovery.

The Nigerian currency, however, strengthened against the Pounds Sterling, but weakened against the Euro at the open or parallel market as it closed at N595 and N517, respectively; from N597 and N515 posted on Friday.

At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, a rate it would maintain for the rest of the week, while the Pound Sterling and the Euro traded at N604 and N522 respectively.

Trading at the interbank market saw the Naira weakened further at N305.25 to a dollar, from N305 posted on Friday.

Traders at the market said that while the scarcity of the greenback remained visible, there were strong indications that the Naira was on its way to imminent recovery.

NAN reports that since the closure in the sale of forex to BDCs last December, the spike in the Naira exchange rate had continued unabated.

Worried by the development, the Association of Bureau De Change Operators of Nigeria (ABCON) last week pushed for the adoption of a single rate at the market.

Alhaji Aminu Gwadabe, the President ABCON, argued that multiple rates were frustrating efforts at stabilising the Naira and fast tracking its recovery trajectory.

Gwadabe expressed optimism that the resumption in the sale of about N250 million dollars to members of the association this week would help in addressing liquidity challenges in the market.

http://www.kikiotolu.com/2017/01/naira-stabilises-at-n497-as-hope-of.html

Lalasticlala Mynd44 seun Dominique

Olusegun Omisakin, the Head of Research, Nigerian Economic Summit Group (NESG), says rising inflation rate in the country has gone beyond the control of Central Bank of Nigeria (CBN).

Omisakin made the observation in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.

NAN reports that data released by the National Bureau of Statistics (NBS) on Jan.13 showed that December 2016 inflation rate stood at 18.55 per cent from 18.48 per cent in November.

Inflation targeting is a major economic policy objective of CBN and this has been the focus of its Monetary Policy Committee (MPC).

The apex bank, on July 26, 2016, increased the Monetary Policy Rate (MPR) by 200 basis points from 12 per cent to 14 per cent to check inflation.

The CBN retained all key indicators at its September and November MPC meetings to keep MPR at 14 per cent, Cash Reserve Ratio at 22.50 per cent and the Liquidity Ratio at 30 per cent, all aimed at controlling inflation.

Omisakin said that the rising inflation had defied CBN’s monetary policy measures, adding that policy tools adopted by the apex bank were only effective in taming inflation arising from demand-supply imbalances.

“In this case, inflation is cost-push. Production cost is high because producers who want to import intermediate goods for production do not have access to foreign exchange.

“Most of them go to the black market and definitely the product from this would be expensive, thereby increasing inflation.

“The CBN cannot do anything through the monetary policy rate to arrest this inflation even if CBN increases the MPR to 20 per cent. Inflation would not come down.

“The inflation we are experiencing now is out of the control of CBN. CBN can only address issues that have to do with availability and circulation of money and credit control.

“CBN cannot address cost-push inflation because it cannot provide energy, roads, transport. There are fiscal issues,” Omisakin said.

The economist urged the CBN to formulate policies that would boost industrial production and economic growth in view of the current economic recession.

Omisakin called for coordination of fiscal and monetary policies to check the rising inflationary trend in the country.

“The rising cost of food, transport and energy will reduce if the Federal Government creates concrete fiscal policies with effective implementation to address the situation through increased investment in infrastructure and agriculture,” he said.

The expert said that speedy passage and effective implementation of the 2017 budget would stimulate economic activities.

http://www.kikiotolu.com/2017/01/expert-says-inflation-is-out-of-cbns.html

Governor Rauf Aregbesola of Osun have charged university graduates to dump their certificates and go back to farm, urging them to see agriculture as viable alternative to white collar job.

The governor said the call was necessary due to the menace of unemployment among Nigerian youths.

Aregbesola gave the charge while delivering a speech at the 6th Convocation Ceremony of Fountain University, Osogbo, adding that the present economic situation has shown Nigerians the need to encourage farming as the only alternative to crude oil.

He explained that there was no aspect of life that could do without agriculture, saying Nigerian graduates must henceforth stop searching for formal jobs that realistically remained elusive.

He called for productivity, resilience and hard-work among Nigerians, stressing that the present nation’s economy demands one to be self-employed.

Aregbesola noted that there is no other alternative to sustain Nigerian economy than to build and encourage requisite interest in agriculture and brace up with anything that could promote food security.

The governor maintained that all Nigerians, as a matter of urgency should invest in things that would enhance farming in the next five years if truly the nation was ready to overcome her present economic challenges.

Lamenting the glut in the global oil market, which has brought about dwindling revenues to all tiers of government, Aregbesola emphasised the need for massive participation in agriculture.

“There is need for us , especially our young graduand’s to lead the nation in promoting agriculture as the only realistic surviving alternative to economy.

“We must not but embrace farming because it is only agriculture that has direct links to all aspects of life.

“Nigeria has grown to the stage through which her food production capacity must be urgently expanded to meet the general needs of the citizenry and as well enhance exportation.

“The time to enhance productivity has come. We must all embrace productivity. We must produce whatever we desire to consume”, he added.

Congratulating the graduating students, Aregbesola charged them to adapt to the virtues they acquired from the institution.
He called on them to get prepared for the challenges ahead and life after university which he described as “challenging.”

“You must all prepare the challenges ahead especially at this period of over saturated tendencies of labour market. You need grim determination to succeed. You must be rational and critical in the application of the knowledge you have acquired”.

Aregbesola appealed to those who are perpetrating violence and criminality in the name of Islam to have a rethink, using the precious and reputable saying, “violence is directly antithetical to Islam.”

Earlier in his lecture, Professor Abubakar Rasheed, who is the Executive Secretary of National Universities Commission(NUC)and the Guest Speaker at the event charged both private and public organisations in the country on the need to invest more in education.

He said the country has gone to a stage where education should be seen by all as a bedrock for national development, hence calls for the need to encourage participation in both basic and higher education.

He implored stakeholders in the private and public institutions in the country to rescue the nation from her present education backwardness as a matter of urgency, by establishing more universities.

Meanwhile, in his remarks, the Acting Vice Chancellor of the University, Professor Abdullateef Usman called for better funding of university education.

He said the country can only develop if proper attention is given by all towards the provision of quality education.

Prof. Usman called on government to further invest in education, saying doing this would save the country and as well serve as panacea to economic growth and development.

“Our governments must do more in educating citizens who are expected to pilot the future affairs of the nation.

“If we really want to develop capacity in quality education and churning out graduates equipped with required virtues, thus no stone must be left unturned in ensuring better and adequate funding.

“The governments are expected to do the needful by earmarking better funds to support education both in terms of academic infrastructures and finances”.

Prof. Usman congratulated the 128 graduating students, advised them to multiply the virtues acquired in the university as they go into the new world of challenges.

http://www.kikiotolu.com/2017/01/forget-your-university-certificates-go.html

Nigeria’s foreign exchange reserves increased week-on-week by 2.51 per cent to USD26.88 billion, according to latest update from the Central Bank of Nigeria, CBN, last weekend.

The latest uptick in the reserves came against the backdrop of a week-on-week decline in global crude oil price, a factor that had stoked the upswing in reserves in the past one month. Brent crude oil price and OPEC’s reference basket price moderated lower week-on-week by 1.39 per cent and 1.36 per cent to USD56.11 per barrel and USD52.30 a barrel, respectively, at the weekend.

But activities at the interbank foreign exchange market remained minimal even as more pressures came on the parallel market segment of the foreign exchange market, sending Naira value, at N497/ USD1, closer to the dreaded N500 mark.

This was despite indications by the Association of Bureau De Change operators to adopt N400.00/USD1 as BDC rate during a meeting with CBN a day before the latest depreciation.

However, in the Foreign Exchange Futures Market, the value of open contracts rose to US$3.8 billion from US$3.7 billion recorded in the first week of the year. It was observed that the value of the “soon-to-mature” Naira/USD January 25, 2017 dated contracts rose by US$58.3 million during the week.

Meanwhile exchange rates at the spot market for one month, three months, six months and 12 months forward contracts were stable at N305/USD, N305.25, N320.18/USD, N330.537/USD, N346.07/USD and N378/USD respectively
But analysts noted that despite the attractive prices of the contracts on offer, most of the contracts in the Futures market remained largely undersubscribed due to overhanging liquidity crisis in the currency market.

There was USD7.5 million intervention sales by CBN to banks during the week. In the current week, CBN will resume selling USD to BDCs for the first time this year; hence, we expect moderation of the Naira/USD exchange rate
Analysts expect exchange rate at the interbank to remain stable this week as the CBN continues daily intervention. Meanwhile, plans by the CBN to resume dollar sales to BDC operators may offset some of the pressure on exchange rates at the parallel market.

With last week’s depreciation amidst major moves by Central Bank of Nigeria, CBN, to assuage Bureau de Change, BDC, operators with improved availability of foreign exchange resources, some market operators believe the latest depreciation may be speculative, expecting a reversal this week.

Weekly foreign exchange supply

However, Financial Vanguard learnt that dealers are not confident in the arrangements under the International Money Transfer Agency system which the apex bank has been working out for some months now.

They said they are yet to receive foreign exchange supply under the arrangement this year, a situation which may have worsened the liquidity crises in the foreign exchange market while heightening speculations.

This situation was coming at the backdrop of the reduction in the volume of weekly foreign exchange supply to the interbank market by the CBN previous week.

http://www.kikiotolu.com/2017/01/foreign-reserve-hits-269bn-as-value-of.html

Lalasticlala Mynd44 seun Dominique

The Joint Admissions and Matriculation Board (JAMB) says it is set to meet with heads of other public examination bodies to fine tune examination schedules in order to avoid infringement on its examinations.

The Head, Media and Information of the board, Dr Fabian Benjamin, gave the hint in a statement made available to the News Agency of Nigeria (NAN) on Sunday in Lagos.

Benjamin stated that the board was determined to address “myriad of challenges confronting public examinations in the country’’.

He said that the board had yet to roll out its applications for 2017 UTME because it was working to improve on the conduct of its examination.

“You cannot do things the same way and expect different result.

“This year, we shall improve on a lot of things to get better results.

“However, we are mindful of the fact that there will be challenges accepting new directions of doing things by candidates.

“There will be improvement in our new payment platform, process of change of name; change of course; change of institution and others.

“This also applies to other difficulties that may arise in our attempt to improve on the entire process, which we have resolved to tackle.

“To make this feasible, the board had started working with other examination bodies to achieve a holistic result for the Nigerian child desirous of sound education,’’ Benjamin stated.

He stated that in view of the above, the board had slated a meeting with the Head of National Office (HNO) of WAEC, the Registrars of NECO and NABTEB, scheduled for Tuesday, Jan. 17.

The meeting is expected to come out with a suitable time table that will not infringe on other examinations.

According to him, the meeting is part of the final preparations to begin sale of the 2017 Unified Tertiary Matriculation Examination (UTME) application forms.

Benjamin stated that the board did not want candidates to be stranded during examination due to clashes in dates of their various external examinations.

He said during the meeting, there would be a harmonisation of calendar of sister examination bodies.

“We appeal to Nigerians to support our drive to ensure that the board’s matriculation examination meets international best practice,” Benjamin stated.

http://www.kikiotolu.com/2017/01/jamb-meets-with-other-stakeholders-to.html

As the Central Bank of Nigeria (CBN) concludes arrangement to resume sale of dollar proceeds of international money transfer (IMT) to bureau de change (BDC) operators doing business in Nigeria next week, some manufacturers are calling on the apex bank to put a monitoring mechanism in place to check the activities of BDC, in order to curtail further depreciation of the naira.

Speaking with Sunday Vanguard in Lagos, the Chairman, Toiletries and Cosmestics group of the Manufacturers Association of Nigeria (T&C Group of MAN), Mr. Ikpong Umoh, advised the monetary authority to fund businesses that will add value to the economy, instead of selling dollar to BDC.

He said, “I do not support the issue of CBN selling dollar to BDC. The CBN should tread with caution to protect the naira, because operators of BDC are among those bastardizing our local currency. They are hawking dollar in such a manner that depreciates the naira so much.

For instance, they can get forex from the official window of the apex bank at 306, only to sell at over 490, at a very high rate. You can see the wide margin they make. This clearly shows that the BDC operators in the country also constitute another CBN on their own. The CBN should fund manufacturers to boost productive activities in the country.

On if the CBN is not monitoring activities of the BDC operators adequately at present, he said, “They do not keep a single financial record of their activities. Some of them keep triple records.

This implies that they keep numerous records. So, they show the CBN records that are totally different from the businesses that favour them. The CBN should fund local manufacturers who import raw into the country, to add value to the economy in job creation, instead of BDC operators.

The people BDC are funding now are traders who engage in buying and selling of imported goods, without adding any value to the economy. Some of these traders import goods that can be made locally from China and other countries, to the detriment of local manufacturers in Nigeria.”

Responding to question on how BDC can get forex without the support of the apex bank, he explained, “There are different sources through which dollar comes into the country, so BDC can source from autonomous market and from people coming into the country.

This is importation to prevent further depreciaiton of the local currency, which has greatly lost it value already. The CBN’s monetary policies in 2017 should promote industrial development through manufacturing and not importation”.

http://www.kikiotolu.com/2017/01/manufacturer-cautions-cbn-over-sale-of.html

Lalasticlala Mynd44 seun Dominique

Katsina State Government says it has spent N203 million to purchase some equipment to enable more than 500 youths to establish small-scale businesses after their skills acquisition programme.

The equipment are for tailoring, poultry, welding, cosmetics production, carpentry and vehicle repairs.

Gov. Aminu Masari disclosed this on Saturday in Kastina while distributing the equipment to beneficiaries under the state’s youth empowerment programme.

“The state government has given the 500 youths three months training in fish, poultry farming, welding, carpentry, computer and business centre management.

“Some female youths have also been trained in beads making, catering and restaurant management, juice and cosmetics making,” he said.

On the second phase of the empowerment programme, Masari disclosed that the administration had purchased 15 salon cars for distribution to the 11 cooperative societies in the state.

According to the governor, the empowerment of the youths had become imperative as there are no more white collar jobs in the state.

“We want our youths both male and female to be self-reliant and shun political thuggery and begging.”

Earlier, the secretary to the State Government, Alhaji Mustapha Inuwa, said the government would continue to give youth skills acquisition a priority as part of measures to bail out the state out of economic crisis.

“The youth as future leaders must be supported to become economically independent.

“Youths as the backbone of every society must be given the chance to take their destiny in their hands by becoming self-reliant.”

http://www.kikiotolu.com/2017/01/katsina-spends-n203m-to-support-youths.html

Lalasticlala Mynd44 seun Dominique