₦airaland Forum

TonyeBarcanista:
@OP:

You are wrong! The bail money money is to be paid to the court and will be kept in the court's custody until after the trial. Should the accused jump bail, he forfeits the money. If he doesn't, he's refunded the money after the trial is concluded.

actually Tonye u are fallible and most likely this isn't your favourite battle ground. I do hope for a day we will meet In your own yard....politics

I will like that day to happen soon because you are not always right In your political analysis. but for today just learn from me.

well I just know that I will learn from this thread whether I am right or wrong......... but justice must be done to this subject once an for all.....keep the answers coming.

I want to use this opportunity to correct a wrong impression about bail conditions. In recent times we have read how courts slam bail charges on accused persons and many think the sums must be paid before releasing an accused.

in reality this money and other conditions will only be redeemed if only the accused jump bail. in that situation the sureties will have to pay the cash.

But if the accused maintain statuesque and appear in court as at when due, that money will never be paid. but the sureties must sign before releasing an accused on bail with the prove of ownership of the landed property as required by the court.

Legal gurus in the house can throw more light on this subject.

The Central Bank of Nigeria (CBN) has approved the disbursement of about N75billion as loan to farmers in the 36 states and the Federal Capital Territory (FCT) under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL).

The loan guarantee scheme is a public-private sector initiative set up to transform the country’s agricultural sector. It was initiated by the apex bank, the Bankers’ Committee and the Federal Ministry of Agriculture and Rural Development, to guarantee 75 per cent loans provided by Deposit Money Banks (DPB) to farmers as part of efforts to transform the country’s agricultural sector.

The Head of NIRSAL Project Implementation Office under the Development Finance Department of the CBN, Jude Uzonwanne, who spoke on the role of NIRSAL in Abuja, told the Minister of State for the Federal Capital Territory, Oloye Akinjide, that the guarantee would be issued to farmers through commercial banks and other financial institutions.

“NIRSAL would mobilize financing for Nigerian agribusiness by using credit guarantees to address the risk of default,” Mr. Uzonwanne said.

“NIRSAL is a flexible financing tool designed to change the behaviour of financial institutions.

“It covers all crops and livestock activities in Nigeria, while driving improved investment outcomes and job creation. It is also building on a legacy of previous CBN interventions in agriculture that has helped create thousands of jobs.”

Mr. Uzonwanne said the programme was designed to create access to finance to farmers by integrating end-to-end agriculture value chains, such as input producers, farmers, agro dealers, agro processors and industrial manufacturers with agricultural financing value chains – loan product development, credit distribution, loan origination, managing and pricing for risk, and loan disbursement.

“The integration is driven by NIRSAL’s 5 pillars, particularly the Risk Sharing Pillar and the Technical Assistance pillars, such as Risk sharing Facility, allocated ?45 billion, Insurance Facility (?4.5 billion), Technical assistance facility (?9 billion), Agricultural bank rating scheme (?1.5 billion), and Bank incentive mechanism (?15 billion).

“NIRSAL will share risks with banks ranging from 30% to 75% of loss depending on the segment. We are prepared to offer following terms to farmers in the States and FCT Abuja: 75% guarantees on all input, working capital and limited living cost loans to plant the crop, and loan duration should be about 24 – 28 months,” he said.

The Minister of State for FCT, who was represented by the Director of Treasury in the FCT Administration, Ibrahim Bomai, said that NIRSAL is cardinal to the success of the Federal Government’s Agricultural Transformational Agenda (ATA) as it was established to address the grey areas inhibiting agricultural growth in the country.

“NIRSAL seeks to address all the technical, administrative and financial needs of the farmers along the selected agricultural value chain commodities in which the country has comparative advantage,” said the minister said Akinjide.

He said the six Area Councils of the FCT have already been directed to identify and key into the value chain commodities to be promoted in their respective area of jurisdiction, adding that the Authority has commenced the implementation of the Growth Enhancement Scheme of Federal Ministry of Agriculture & Rural Development in order to empower the farmers in the territory.

http://www.financialwatchngr.com/2016/01/17/cbn-approves-n75billion-loan-for-agricultural-lending/

Chevron Nigeria Limited, in collaboration with its Joint Venture partner, the Nigerian National Petroleum Corporation (NNPC), is offering a number of University Scholarship Awards to suitably qualified Nigerian students.

2016 NNPC / CHEVRON JV NATIONAL UNIVERSITY SCHOLARSHIP AWARDS

Requirements / Eligibility
In line with the NNPC/CHEVRON JV Scholarship Policies, current awardees who wish to be retained on the scheme MUST satisfy the following requirements throughout the duration of their degree programme.

Must be in a Nigerian University
Must remain within a course/program covered by the NNPC/CHEVRON JV Scholarship scheme
Application Closing Date
24th January, 2015.

Method of Application
Registered existing awardees need not apply but refer to the steps outline in the invitation email. Unregistered existing awardees should apply using the steps below:

1.) Before you start this application, ensure you have clear scanned copies of the following documents:

Passport photograph with white background not more than 3 months old (450px by 450px not more than 200kb).
School ID card.
Admission letter.
Birth certificate.
O’ Level result.
JAMB Result.
2.) Ensure the documents are named according to what they represent to avoid mixing up documents during upload

3.) Ensure you attach the appropriate documents when asked to upload.

CLICK HERE TO APPLY
http://scholastica.ng/candidate/login?ReturnUrl=%2fschemes%2fapply%2f2029

FOR FURTHER APPLICATION GUIDE FOLLOW THIS LINK
http://www.financialwatchngr.com/job/2016-nnpcchevron-jv-national-university-scholarship-awards/

Banks have recorded near zero foreign currency deposit inflow from high net-worth individuals indicating that their domiciliary account customers are staying cautious on the reversal of foreign currency deposit ban by Central Bank of Nigeria, CBN, early last week.

The development has sustained scarcity of foreign exchange in the market as well as the high exchange rate above N300/ USD1

CBN had hoped to buoy foreign currency supply from independent sources through the de-freezing of foreign currency deposits, and hence help douse the pressure on exchange rate which had accentuated last week.

Sunday Vanguard investigations last weekend, however, showed that only low-end domiciliary account holders responded to the policy with a few dollar deposits, a situation which prompted some of the banks to send out marketing sensitization to their customers to come forward and deposit their dollar with them.

Some of the bankers who spoke to Sunday Vanguard expressed surprise that much dollar did not come in during the week contrary to the expectations that customers who had inundated them with inquiry on how to deposit their foreign currencies did not turn up in response to CBN’s directive.

CBN had, mid last year, barred banks from accepting foreign currency deposits from their customers, a development that cut most of the customers napping, with foreign currency cash in their homes, with the attendant danger.

Last week, CBN reversed itself, allowing the deposits but it appeared the domiciliary account depositors have found alternatives.

Some of the bankers told Sunday Vanguard that some of the depositors now trade or invest their dollar cash with Bureau de Changes, BDCs, where exchange rates and returns on investments are far higher, not minding the risks involved.

However, they also explained that some of the bigger volume customers are finding options with foreign bank accounts.

Consequently, the expected inflow of dollar into the domiciliary accounts with local banks did not come as much as was anticipated.

But some financial sector observers said the high volume dollar account customers were skeptical about the policy reversal which was silent on withdrawals.

The CBN foreign currency deposit restriction policies had come with imposition of limits on foreign currency withdrawals, but the unbanning of deposits last week was silent on withdrawals.

This gap, according to the analysts, may have short-circuited the expected positive response from most domiciliary account holders especially the high-end customers.

Commenting on the policy reversal, financial sector analysts at Afrinvest Group said “CBN reneged on its earlier policy, announcing its decision to allow commercial banks accept foreign currency deposits but was not clear on whether foreign currency transfers or withdrawals can be made”.

They are also worried that despite the huge crash in value of the Naira against world’s major currencies, CBN maintained its official rate at N197/ USD1 thereby creating wider parallel market margin of about 50 per cent, the highest so far in the history of Nigeria’s currency market.

Consequently, Afrinvest stated that “this calls for a quick response of the monetary authority given the huge margin between the official and parallel market rates.

“With foreign reserves at lows of US$28.7 billion and oil prices at US$29.47 per barrel, a compelling argument to devalue the Naira at the next Monetary Policy Committee (MPC) meeting cannot be jettisoned”, it stated. Analysts at Cowry Asset Management, a Lagos based investment house, expressed discomfort at the policy reversal which they believe fell short of capturing other factors that would have made it achieve desired results. They stated, “we are worried that the policies of CBN on the foreign exchange management seem to be made in silos as all the ramifications didn’t seem to have been factored in before the announcements, hence the frequent reversals and consequent loss of confidence by the business and investing public.

“We will advice the Monetary authorities to articulate an integrated policy on foreign exchange management taking into consideration the fiscal policy objectives of the federal government.

“We also think that CBN being the recipient and owner of 90% of the country’s foreign exchange earnings must evolve a channel for injecting dollar cash liquidity into the system, to meet legitimate needs”. Concluding its prognosis of the foreign currency market situation, Cowry Assets analysts stated, “this week we expect further depreciation of the Naira at the alternative market segments on aggravated supply scarcity buoyed by the closure of CBN’s window to BDCs”.

http://www.financialwatchngr.com/2016/01/17/forex-crisis-naira-may-crash-further-this-week/

well I spent a better part of the last quarter of 2015 here educating people on bank work, especially contract. that was a time I recently called it quit. most guys advicing you to take up the job have no idea what it means to take up such an offer .

from the many comments from ex and present bankers, I want to add that its a step in the wrong direction to take up that offer. it may be the easy way out on the short run, but on the long run what the job will do to your innocent and young mind, you may never recover from it.

finish your masters and pursue a career, not some kind of contract job. although you may have to endure hunger for a while , but it is a necessary sacrifice.

teaching in a private school earning 20k is better than working In a bank as a CS. you doubt me? give it a shot, after 4years come back and quote this comment.

VLA, ICS, SOL, XL etc are the major outsourcing firms for bank tellers. they carry out test for their prospective employees and whenever there clients (banks) need staff, they will send from the list of those who pass the test to the bank for interview or depending on the bank they can do the interview themselves.

so relax banks always need tellers and since u pass their test you are next in line.

There are some terms which are often used in relation to stock market and foreign exchange. In this article, some of these terms will be discussed for easy comprehension of news and information about our economy.

OFFICIAL EXCHANGE RATE

In foreign exchange, the exchange rate set by the government. This especially applies to pegged currencies, but countries with floating currencies may also set an official exchange rate for a given day.

The rate of inflation as set by the government. Official rates of inflation may be accurate or not, depending on how they are calculated and whether political consideration influences the calculations.

PARALLEL MARKET

Parallel market (also known as gray market) is a market which trades foreign currencies, stocks, shares etc, and which runs at the same time as a country's own market. Parallel markets mean that a country has less control over its economy.

The gray market (sometimes spelled as "grey market" is the collective system of unauthorized sales channels for products.

Gray market products may be less expensive than those bought through official distribution channels but are sometimes inferior. The products may be counterfeit or have counterfeit parts, for example; they may be second-hand products or contain second-hand components that are represented as new. In some cases, gray market products are authentic but distributed illegally, perhaps to exploit variations in costs and prices in different parts of the world. Warranties, updates or other support are usually not available for gray market products.

The term gray market reflects the somewhat ambiguous middle-ground between the completely legal products sold on the white market and the clearly illegal products sold on the black market.

In the stock market, the gray market involves the trading of new issues of shares before they're officially available. In this context, the gray market is also sometimes referred to as the parallel market.

BLACK MARKET

A black market or underground economy is a market in which goods or services are traded illegally. The key distinction of a black market trade is that the transaction itself is illegal. The goods or services themselves may or may not be illegal to own, or to trade through other legal channels. Because the transactions are illegal, the market itself is forced to operate outside the formal economy that is supported by the established state power.

The black market is distinct from the grey market, in which commodities are distributed through channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer, and the white market.

In forex parlance, black market are those forex vendors, business oriented individuals and companies who buy foreign currencies and sell higher to buyers. Since they are not strictly monitored and regulated, buying from them is easier than the official market.

STOCK MARKET

Organized and regulated financial market where securities (bonds, notes, shares) are bought and sold at prices governed by the forces of demand and supply. Stock exchanges basically serve as primary markets where corporations, governments, municipalities, and other incorporated bodies can raise capital by channeling savings of the investors into productive ventures; and secondary markets where investors can sell their securities to other investors for cash, thus reducing the risk of investment and maintaining liquidity in the system.

INTERBANK MARKET

The financial system and trading of currencies among banks and financial institutions, excluding retail investors and smaller trading parties. While some interbank trading is performed by banks on behalf of large customers, most interbank trading takes place from the banks' own accounts.

The interbank market for forex serves commercial turnover of currency investments as well as a large amount of speculative, short-term currency trading. According to data compiled in 2004 by the Bank for International Settlements, approximately 50% of all forex transactions are strictly interbank trades.

FOREIGN EXCHANGE

The exchange of one currency for another, or the conversion of one currency into another currency. Foreign exchange also refers to the global market where currencies are traded virtually around-the-clock. The term foreign exchange is usually abbreviated as "forex" and occasionally as "FX."

Foreign exchange transactions encompass everything from the conversion of currencies by a traveler at an airport kiosk to billion-dollar payments made by corporate giants and governments for goods and services purchased overseas. Increasing globalization has led to a massive increase in the number of foreign exchange transactions in recent decades. The global foreign exchange market is by far the largest financial market, with average daily volumes in the trillions of dollars.

EXCHANGE RATE

The price of a nation’s currency in terms of another currency. An exchange rate thus has two components, the domestic currency and a foreign currency, and can be quoted either directly or indirectly. In a direct quotation, the price of a unit of foreign currency is expressed in terms of the domestic currency. In an indirect quotation, the price of a unit of domestic currency is expressed in terms of the foreign currency. An exchange rate that does not have the domestic currency as one of the two currency components is known as a cross currency, or cross rate. Also known as a currency quotation, the foreign exchange rate or forex rate.

An exchange rate has a base currency and a counter currency. In a direct quotation, the foreign currency is the base currency and the domestic currency is the counter currency. In an indirect quotation, the domestic currency is the base currency and the foreign currency is the counter currency.

Most exchange rates use the US dollar as the base currency and other currencies as the counter currency. However, there are a few exceptions to this rule, such as the euro and Commonwealth currencies like the British pound, Australian dollar and New Zealand dollar.

Exchange rates for most major currencies are generally expressed to four places after the decimal, except for currency quotations involving the Japanese yen, which are quoted to two places after the decimal.

BEAR MARKET

A market condition in which the prices of securities are falling, and widespread pessimism causes the negative sentiment to be self-sustaining. As investors anticipate losses in a bear market and selling continues, pessimism only grows. Although figures can vary, for many, a downturn of 20\% or more in multiple broad market indexes over at least a two-month period, is considered an entry into a bear market.

A bear market should not be confused with a correction, which is a short-term trend that has a duration of less than two months. While corrections are often a great place for a value investor to find an entry point, bear markets rarely provide great entry points, as timing the bottom is very difficult to do. Fighting back can be extremely dangerous because it is quite difficult for an investor to make stellar gains during a bear market unless he or she is a short seller.

http://www.financialwatchngr.com/2016/01/16/some-stock-market-and-forex-terms-explained/

The Nigeria Deposit Insurance Corporation (NDIC) on Friday released deposit insurance guidelines on the Mobile Payments System (MPS), known as “Pass-Through Deposit Insurance scheme”.

A statement by the corporation in Abuja, said the guideline was released following the introduction of mobile banking in Nigeria by the Central Bank of Nigeria (CBN).

It explained that CBN issued operating licences to many deposit money banks (DMBs) and telecommunication companies to provide mobile banking services.

It said Pass-Through Deposit Insurance scheme was the protection by NDIC to mobile money subscribers, whereby the corporation insures funds deposited by a Mobile Money Operator (MMO) in the deposit money banks (DMBs).

“The MMO acts as a custodian on behalf of the subscribers who are actual owners of the funds as if those actual owners have deposit in the DMBs.

“MPS refers to payment services operated under financial regulation and performed through the use of mobile devices such as smart phones, cell phones, personal digital devices and other electronic devices.

“It is also a safe and affordable way by which subscribers make instant transfer of funds and execute payments for goods and services from anywhere at any time without having a bank account.

“It guarantees the payment of insured sums to subscribers of MMOs in the event of failure of insured institutions where pool funds are maintained.

“It enhances confidence of subscribers and ensures continuity of the MPS and promotes financial inclusion by protecting and ensuring the safety of the MPS.

“It also promotes the stability of the Nigerian financial system,” the statement read in part.

It named participants of the scheme to include, MMO, payment agent, pool account, banks, customers and Mobile Network.

According to the statement, some of the salient elements of the NDIC Pass-Through Insurance consist of the following:

“Subscribers of MMOs shall be insured up to the maximum coverage of N500,000.00 per subscriber per DMB or the applicable coverage level for depositors in line with NDIC’s Act.

“Subscribers’ funds in pool accounts and other deposits in the same institution under the same capacity shall be aggregated and insured up to the maximum coverage limit.

“The relationship between the MMOs and their subscribers shall be based on Bare Trust Arrangement and KYC requirements on the owners of funds in Trust (Pool) accounts shall be fully met as specified by the CBN,” it said.

It said the records of the Trust (Pool) account holders at the insured institutions would clearly indicate that the account holder was an agent or custodian acting in a fiduciary capacity.

It further said the funds must belong to the individual subscribers and not the agent or custodian.

“The insured institutions, MMOs and Agents shall render returns in specified formats to NDIC on predetermined frequencies,” it added.

It stated that MMOs shall be required to take Fidelity Bond Insurance for any losses arising from fraudulent acts of their staff and agents.

It further said that the applicable rate of the fidelity insurance shall be specified by NDIC from time to time.

The statement noted that NDIC would issue regulations to operators on the implementation of the Pass-Through Deposit Insurance.

http://www.financialwatchngr.com/2016/01/15/ndic-releases-deposit-insurance-guidelines-on-mobile-payments-system/

Diamond Bank Plc has been named and awarded the Best SME Bank in West Africa by the famous Banker Magazine in the 2015 West Africa Awards. The Bank also emerged as the Best Microfinance Bank in West Africa.

According to the awarding institution, the awards are in recognition of the Bank’s high value addition to the growth of micro businesses in West African and its leading role in stimulating the productive capacity of the Small and Medium Enterprises (SME) as the engine that drives industrialization and sustainable economic growth and development.

A message from the awarding institution as reflected in the award certificates signed by Robin Amiot, Chief Executive Officer and Georgina Gongs, Managing Editor, stated that Diamond Bank’s success in the fiercely contested award categories by a lot of nominated banks in West Africa, is in recognition and reward for the quality of its financial products purely tailor-made to stimulate the productive strength of the SME sector and the unrivalled excellence in services to customers.

“The publishers of Banker Africa understand the importance of best-in-class benchmarks and growing a dynamic and successful regional finance industry. Your institutions success in the Banker Africa – West African Awards as category winners for Best SME Bank West Africa and Best Microfinance Bank West Africa,” reflects Diamond Bank’s superior creative vigour that has stamped her as a dominant financial house in the region.

Winners in each of the award categories emerged after nominated financial institutions were subjected to a rigorous and transparent voting process by registered website users across Africa.

According to Uzoma Dozie, Diamond Bank’s CEO, the investment and focus on the MSME segment is strategic and predictive. In his view, the future of sustainable banking in Nigeria is retail, therefore it is necessary to grow and consolidate its strength in the segment.

Commenting on the success of the Bank in growing the SME sector, Ayona Trimnell, Head, Corporate Communications Division stated that the award is a huge testament of Diamond Bank’s strategic growth plan to see the SME as the hub of economic activity in the country, noting that an area in which the Bank has moved ahead of the pack is in the designing, management and delivery of SME stakeholder-orientated banking products and services.

“This award to Diamond Bank as the Best SME Bank is a strong testament of our focus, commitment and conviction that SMEs represent and remain the main driving engine for sustainable economic growth and development. We recognize that the SME segment is a critical arm of the private sector and holds the key to addressing the perennial problem of youth and adult unemployment, and subsequently created a compelling value proposition comprising financial and nonfinancial solutions to address MSME needs. Today, our Bank is the model in the industry, and in the last four years has groomed and developed a pool of SME stakeholders into a strong productive force in the economy. We cherish this award,” she stated.

With a firm footprint in SMEs financing in the last five years combined with vigorous retail business, Diamond Bank has gone from being Nigeria’s 10th largest bank by assets in 2012, to the sixth largest by the end of 2014 with over NGN1.8trn in assets.

Although the Bank’s business focus consists of corporate, retail and public sector businesses, the Bank’s SMEs footprints has become a model for the industry. Particularly interesting are the many financial products that SME operators could easily access without encumbrances.

To deepen its SME thrust and penetration, Diamond Bank has also embarked on the continuous development of women-friendly propositions and services aimed at empowering women economically. This includes the Diamond Woman Proposition, a fully-fledged business support initiative designed to empower its female customers by building their capacity in managing their finances, family life, career and businesses through platforms such as seminars, conferences, networking events and an active online community.”

The bank has remained the key driver of entrepreneurship across Nigeria, the effects of which include the creation of jobs for millions of people, particularly at the grassroots. The success recorded in this area has led to numerous invitations for strategic partnerships by multilateral international agencies including the IFC, USAID, Women’s World of Banking, Shore Cap Exchange and DFID.

Diamond Bank currently has over 250 branches in Nigeria in addition to subsidiaries in Benin Republic, Senegal, Côte d’Ivoire, Togo and the UK. The Bank was first listed on the Nigerian Stock Exchange in 2005 and in January 2008, its global depositary receipt was listed on the Professional Securities Market of the London Stock Exchange. Diamond Bank was the first bank in Africa to record this feat.

http://www.financialwatchngr.com/2016/01/15/diamond-bank-plc-named-best-sme-bank-in-west-africa/

Leading financial services provider, First City Monument Bank (FCMB) Limited, has introduced the first tracking and reconciliation solution with electronic invoicing capabilities in the Nigerian banking industry.

Known as ‘’FCMB E-invoicing, the solution is a unique payment offering, designed to help SMEs keep track of their cashflow, especially as it affects payments, receivables, reconciliation and other financial transactions, through internet banking, cards and other channels.

In addition, this value added offering from FCMB combines basic inventory management and accounting (with electronic payment) services. This provides SME customers with tripartite advantages of; convenience of receiving payments regardless of the bank’s card used, the ease of generating and sending invoices to their customers and the means to be competitive in their business space.

In a statement, FCMB’s Retail Banking Divisional Head, Mr. Olu Akanmu, said that “This offering is to demonstrate the Bank’s value as a helpful financial institution and further amplify our commitment to enhance the operations and fast-track the growth of SMEs. We understand that one of the best ways to grow SMEs is to offer products and services that are simple, convenient, secure and at the same time add significant value to their businesses”.

“We are excited to pioneer this initiative. It is another testimony of our unequalled commitment in offering exceptional offerings. We always want to go the extra mile to satisfy our customers and this is sustained by investing in initiatives that enhance customer experience and best practices as an inclusive lender’’.

Mr. Akanmu further stated that “FCMB supports its SME customers with collections and payments platforms that are convenient, easy to use and that help to manage their receivables and collections effectively with their customers, ensuring that our SME customers maximize the full potential of their business opportunities”.

Also speaking, the Group Head, SME Banking, Mr. George Ogbonnaya said,

“With the introduction of the FCMB E-invoicing solution, we have taken our alternate channels to another height’’.

He explained that apart from the flexible nature of the platform, it has other features such as instant invoice generation, the ability to bill clients instantly, track and monitor payments, reconcile receivables and allows businesses make payments conveniently to their suppliers. The Group Head disclosed that signing up to FCMB e-invoicing is at no extra cost to SMEs.

Mr. Ogbonnaya added that FCMB E-invoicing solution provides various benefits to users including enabling customers keep tab on their daily sales and cash flow, reconcile daily receivables, including those by cash, card or credit sales, customers who need to electronically present invoices to their clients as well as to those who are comfortable to receive payments via alternate channels, among other transactions.

FCMB has continued to make giant strides in the Nigerian banking industry since it successfully transformed into a retail and commercial banking-led group. The impact of the bank in the SMEs space is significant going by its financial, advisory, skill acquisition and other forms of support to operators. As one of the banks appointed by the Central Bank of Nigeria for the disbursement of the N220billion Micro, Small and Medium Scale Enterprises (MSMEs) Development Fund, FCMB has so far disbursed about N2billion to SMEs. This is among the highest so far disbursed by any bank under the Fund.

Moreover, the Bank has enhanced its lending strategy to SMEs by introducing a new and separate SME credit policy tailored to suit the needs of the various businesses and value chains in the MSMEs space. FCMB equally has dedicated lending officers in its branches in order to bring services closer to SMEs.

Following these developments and other initiatives, FCMB has been rated by KPMG, a leading international consulting firm, as the 4th most customer-focused bank in the SMEs sector with a score of 74.94 percent following a survey conducted by the firm among bank customers nationwide. The rating, as contained in the 2015 report of the KPMG Banking Industry Customer Satisfaction Survey (BICSS), was on the basis of Customer Satisfaction Index (CSI), which took into account convenience, product/service offering, executional excellence, value for money and customer care.

http://www.financialwatchngr.com/2016/01/15/fcmb-unveils-e-invoicing-solution-for-smes/

African Development Bank (AfDB) established to strengthen dialogue between the Bank and the Government, is recruiting to fill the vacant position of:

Principal Power Engineer – ONEC2
Job Type: Full Time
Qualification: MBA/MSc/MA
Experience: 6 years
Job Field: Engineering / Technical
Objectives

The Energy, Environment and Climate Change Department (ONEC) is in charge of managing the Bank Group energy operations in Regional Member Countries (RMCs). It helps address climate change and environmental issues by incorporating them into Bank Group supported operations and giving them the visibility required. ONEC Department includes two energy divisions and a third division which is responsible for climate change and environment issues. The main objective of the Eastern and Southern Africa Energy Division (ONEC.2) is to build on the Bank’s sector skills and strengthen its capacity to become the leader in strategy, development, financing and implementation of energy projects and programs in Eastern and Southern Africa.

Duties and responsibilities

Under the general direction of the Bank’s Regional Director of the Eastern Africa Resource Center (EARC) and Manager for Eastern and Southern Africa Energy Sector (ONEC.2), the incumbent, posted at the EARC in Nairobi, Kenya, will support the Bank’s power sector operations in the region and provide technical support related operational policies, procedures and guidelines. Specific Duties and Responsibilities will include:

Policies, strategies, and frameworks

Coordinate and contribute to the preparation of policies and strategies for Bank Group intervention in energy sector in the region ;
Coordinate and contribute to country and regional strategy papers; undertake relevant studies and analyses for the region.
Project management

Coordinate and provide expert advice on issues related to energy sector development including advice to the Regional Director and the Division Manager for promoting policies conducive to strong growth/development of the energy sector as well as other areas of activity in the region (creation of an enabling environment for private sector investments in energy projects, corporate governance related to the region);
Undertake activities for energy projects in the region related to the project cycle including (identification, preparation, appraisal, negotiations, supervision and preparation of Project Completion Reports (PCRs) and ex-post reviews of Bank operations focusing on the energy sector in the region, involving the region governments, other development partners and concerned parties or partners in the region;
Oversee and carry out active and effective management of the assigned portfolio in the region, including Sector Policy-Based Operations and Institutional Support Projects;
Provide the required technical skills to design national and multinational projects that respond to the needs of the region and Regional Economic Communities (RECs) based on their priorities and selectivity;
Monitor Energy sector development and activities in these sectors across the region;
Develop sector strategies and operation plan for the region.
Knowledge Development

Coordinate and participate in the preparation of Energy sector assessments and other upstream analytical and diagnostic work to inform Country Strategy Papers (CSPs) in the region; provide support to countries in the region and the regional departments on policy dialogue with regional countries relating to the Energy sector and related issues in the region; and ensure provision of quality advisory service to regional countries ;
Provide back-up to country offices in the region to ensure provision of quality advisory service to countries in the region;
Lead and coordinate the preparation of policy statements, papers, briefs and various reports on the Energy sector issues and other areas relevant to the Energy, Environment & Climate Change Department for the region;

Represent the Bank in national and regional partnerships, networks, conferences, workshops, and training seminars on issues related to Energy sector development and related issues in the region;
Undertake any other task as the Regional Director and Manager ONEC.2 may assign.
Selection Criteria

Including desirable skills, knowledge and experience

A minimum of a Master’s degree or its equivalent in Electromechanical or Electrical Engineering;
A minimum of six (6) years relevant professional experience in planning, design, construction, supervision and maintenance of energy infrastructure;
Proven knowledge power utilities operation;
Experience in the Banks operation in power sector;

Experience working with other MDBs and bilateral financers in the power sector;
Full understanding of the principles of project cycle and project implementation;
Proven ability to interact competently with power utilities and related ministries and donor agencies on issues relating to aid coordination, as well as with the private sector;

Proven ability to lead the power projects in the region including power interconnection projects;
Proven ability to build and lead a team of professional staff and utilize talent and expertise of team members in a productive way;
Proven experience in appraising and supervising projects financed by the Bank ;

Good listener with demonstrated ability to present and win support for ideas as well as make effective and timely decisions;
Capacity to initiate and manage innovations and change;

Competence in the use of Bank standard software applications (Word, Excel, PowerPoint, Access, MS Projects);
Competence in (or ability/willingness to become quickly familiar with) the use of various tools available and applied by the Bank such as SAP;
Excellent written and verbal communication skills in English. Knowledge of French is an added advantage.

HOW TO APPLY

To apply follow this link:
http://www.financialwatchngr.com/job/african-development-bank-jobs-in-nigeria-principal-power-engineer/

More photos here:
http://www.financialwatchngr.com/2016/01/15/official-wedding-photos-of-governor-okowas-daughter/

Marilyn, one of the daughters of Governor Ifeanyi Okowa of Delta state, shared official photos from her wedding.

Marilyn and Gbolahan Daramola tied the knot on Saturday, December 19, 2015. The wedding took place at St Philips Catholic Church, Asaba, and was followed by the reception at the Event Centre Asaba.

While the traditional wedding was held on December 17 at Owa in Delta state.

thumbs up @op. i still want to add one more little thing.........

A cv is primarily to help you get a job, all jobs have various requirements and as such it will be an advantage to customize your cv to suite a particular job interview. Employers want to see a relationship between your cv and the position you are seeking for. This is why doing a background check on the company is good practice.

Let your hobbies, skills and job experience as well as your objective statement be relevant to the job specifications. If a particular item is irrelevant to getting the job, please do not add it.


All the best!

Brutality.....

The husband of this lady brutally dehumanized her for allegedly sleeping with his best friend, does she deserve it? Does the husband have to go this far?

smart move Baka..........its better u transform fully to anti-curruption crusader than remain in the camp of corruption (PDP)........effectively blurring the bridge of returning to where u belong (APC)

Get latest verified job vacancies from FINANCIAL WATCH JOB BOARD. We verify all jobs we list as well as authenticate listings from our registered employers. Accessing our job portal is free and we are particularly interested in bringing openings from banking sector.

We have a reputation of offering useful tips on how to get a banking job, how to survive and succeed as a banker and how to beat the office politics in the industry.

The list is updated daily from all bank outsourcing firms and the banks’ HR page. Feel free to visit our job board for latest banking jobs.

http://www.financialwatchngr.com/jobs-2/

The current Oil price has dropped below the $8 a barrel benchmark going by the 2016 budget proposal submitted to the National Assembly by President Muhammadu Buhari based on $38/barrel.

President Buhari pegged the oil benchmark at $38/ barrel but the gap currently is about 21 per cent of the amount proposed.

Crude oil prices lost more than 2 per cent on Tuesday,January 11 extending a relentless selloff to trade within cents of $30 a barrel for the first time in 12 years on concerns about fragile Chinese demand and the absence of restraint in global production.
Analysts from some major banks have cut their 2016 oil forecasts to as low as $10 per barrel.

Benchmark Brent crude fell to a low of $30.43 per barrel, a level not traded at since April 2004. It was at $30.65, down 90 cents, at 11:43 a.m. EDT (1643 GMT).

U.S. West Texas Intermediate crude(WTI) fell to a low of $30.10, which was last seen in December 2003, and last fetched $30.26, down $1.15.
Crude firmed in early trade after a deadly suicide bombing rocked central Istanbul. Traders said support also came after Nigeria’s oil minister commented that a “couple” of Organisation of the Petroleum Exporting Countries (OPEC) members had requested an emergency meeting.

http://www.financialwatchngr.com/2016/01/14/oil-price-dips-below-2016-budget-benchmark-by-8/

The naira continued its slide against the dollar at the parallel market on Wednesday trading at N295 to the dollar.

It was traded N290 to the dollar at the same segment in Lagos on Tuesday.

Reports shows that the naira exchange rate was, however, stable at N197 to the dollar at the official market on Wednesday.

The naira has depreciated steadily since Monday when the apex bank stopped the weekly sale of foreign exchange to Bureau de Change operators in the bid to sanitise the market.

Traders at the market said that they were concerned about the depreciating naira exchange rate in the black market.

They, however, expressed optimism that the policy might impact positively on the market in the long run.

Mr Godwin Emefiele, the CBN Governor, announced the new foreign exchange policy at a media briefing in Abuja on Monday.

He said that the new policy was to stop “rent seeking activities’’ in the market.

http://www.financialwatchngr.com/2016/01/14/naira-depreciates-further-to-n295-to-dollar-at-parallel-market/

The FCT Command of Directorate of State Services, ( DSS ) has alerted members of the public on the new style of operation by fraudsters who specialised in getting women unclothedness through animation and sent to their targets.

The Director of the command, Mr Abubakar Bubuche said this while presenting two suspected fraudsters to newsmen on Wednesday in Abuja.

He warned members of the public to desist from sending their sensitive photographs to the Internet so that criminals would not use them against them.

He said: “This is to inform the general public about the activities of a criminal syndicates’ style of operation include among others, the use of computer animation to strip their victims and put their nude pictures on facebook and other social media platform.

“The gang calls up their potential victims and orders them to pay certain amount of money to a given account numbers or have their personal pictures edited and posted nude on the internet,”he said.

Bubuche said several complaints prompted the Service to swing into action which eventually led to the arrest of two people in connection with the internet fraud.

He said the suspects, 35 and 22 years respectively, were arrested in Maiduguri by operatives from the Command.

“The public may wish to note that this syndicate has diverse membership with various professional skills, especially in the ICT,”he said.

Babuche called on FCT residents to be wary of fraudsters and promptly report such cases and suspected persons to the security agencies.

He reiterated the Service’s resolved to discharge its duties with every sense of responsibility and commitment.

http://www.financialwatchngr.com/2016/01/14/dss-alerts-public-of-new-tactics-by-fraudsters/

nice move

we now know d ppl drawing naija backwards..... PDP the embrasser of the corrupt

Temotala:
Look, whatever your opinion about TB Joshua may be, you can't deny that when he speaks, people should sit up and listen. TBJ has consistently prophesied, albeit often in parables, about events both nationally and internationally which have later confirmed to be true. Remember, he is giving these prophecies LIVE on a television station that is viewed by literally millions. Give the guy some credit - there's definitely a connection to the supernatural...

I hope u know that not all prophecies originate from God, I can authoritatively tell you that God have know hand in his ministry.

Guaranty trust bank has debunked the ongoing job application being circulated online requesting young graduates to send their CVs to a particular email address.

This was confirmed in a mail after an inquiry was made by Financial Watch through the bank’s online customer service platform. Further confirmation emerged when we visited the bank's official career page and discovered there is no current vacancy in the bank.

Below is the detail of the mail:

Our attention has been drawn to an ongoing job recruitment campaign purportedly involving employment in Guaranty Trust Bank Plc to unsuspecting Nigerian nationals. Please disregard and delete all such emails and any other communication circulating via social media, SMS, phone calls and various online portals. At this time, GTBank, its staff or its agents has not requested you to submit your credentials to any email address or upload your details via any web link.

We therefore dissociate ourselves from this false recruitment campaign and wish to notify the public that Vacancies will only be announced on the careers page at our corporate website: www.gtbank.com/careers

http://www.financialwatchngr.com/2016/01/06/gtbank-dissociates-from-recruitment-opening-being-circulated-online/

Investigations has revealed a massive job racketeering in Asaba, the Delta State capital by a company professing to engage in consultancy and job creation for the unemployed youths. This form of extortion is rampant in these period of economic uncertainty and lack of jobs for young graduates.

With their job vacancy posters littered all over the town with over twenty job opportunities in almost all professions ranging from hotels, schools, companies, banks, factories, hospitals, telecommunications, and so on promising immediate employment to unsuspecting victims.

As soon as applicants submit their CVs and undergo a little interview, they will be asked to pay a registration fee of N1,500. After the payment a written agreement will be signed by applicants demanding for 40% of the first month salary.

Financial Watch’s investigations revealed that the company has witnessed over 500 applicants since the so called massive recruitment commenced on Monday the 4th of January, 2016.

Investigations also revealed that the only available vacancies are hotels, cleaner jobs, and other odd jobs as against the massive opportunities advertised. Even though there are no vacancy for a job, the manager will make applicants believe the jobs are available and after collecting the fee, there will be no offer.

This consultancy firm has been in this business since 2012 and has been operating clandestinely while ripping-off unsuspecting job seekers their hard earned money over the past four years.

The man hiding behind this fraud is Ugonna Enekwe (CMR), under a corporate name of Horvey Links Nigeria located at summit road opposite ministry of women affairs primary school bus stop.

Job seekers are by this report warned to be watchful and careful of unscrupulous massive job vacancy notice pasted on our streets.

http://www.financialwatchngr.com/2016/01/06/job-scam-alert-massive-extortion-ongoing-in-asaba/

xtropy:
https://www.nairaland.com/2842778/insulting-judiciary-femi-fani-kayode-writes


Woe unto those that tremble before men of power and that worship false gods. Destruction and perdition awaits those who bow before Baal, who exalt the servants of Belial, who kiss the ring of the Baphomet, who say ”Buhari is God” and who crawl at the feet of the Lord of the Flies.

For example you have no right to tell the courts how to administer justice and who and who not to grant bail. Again you have no business to tell the legislature which laws to pass and how to run their affairs.

Again you have no right and neither do you have the power to pronounce any Nigerian citizen guilty of any crime unless and until a duly constituted court of law has done so. You cannot be the prosecutor, judge and jury in any criminal proceeding and this is especially so when you initiated those proceedings and you are the accuser.
...
To attempt to do so is not only unacceptable and irresponsible but it is also heartless and unkind. The fact that most of our senior and respected lawyers have refused to tell you this simply because they are scared of you or because they are looking for patronage from your government does not mean that what you are doing is lawful or acceptable. What you are doing is morally and legally reprehensible and it is unacceptable in any democratic and civilized society.
...
You have no right to attempt to cower or intimidate the fourth estate of the realm, which is the media, or attempt to pervert and corrupt the Nigerian public with daily doses of lies, falsehood, deceit and propaganda which is being duly and dutifully administered by your Minister of Information and your numerous media aides.
...

Mr. President I wish to remind you that it is an incontrovertible fact that in just seven months your government has succeeded in marginalizing the Igbo more than any other Federal Government in living memory and certainly since the civil war.

This is a record that you ought not to be proud of. What the Igbo want is fairness, equal rights, equal representation, equity and respect. They also believe that they have the right to determine their own future and make their own choices.

Mr. President I do not believe that this Is this too much for them to ask given the fact that they have contributed, perhaps more than most, to national development and integration in the last forty five years?

It is not too much to ask given the fact that no less than three million of their people, including one million innocent children, were slaughtered during our civil war in the name of keeping Nigeria one?

I have no doubt that you will remember this very well Mr. President given the fact that you were one of those that prosecuted that war and fought in it.

You will also remember the brutal mass murder and the war crimes and crimes against humanity that were perpetrated against the unarmed and defenseless Igbo civilian population of Asaba in 1968 when over one thousand of them were rounded up, taken to the town square and shot to death for no just cause.

The soldiers that carried out that unspeakable act of cowardice, brutality and barbarity were under the command of your professional colleague, the late Head of State, General Murtala Mohammed. Mr. President that was a dark, shameful and ignoble chapter in our history which still cries out for justice and reparations.

Needless to say the pain of such horrendous events and numerous others that the Igbo have been subjected to by the Nigerian state and those that control it over the last fifty five years still haunts them.

The truth is that regardless of the obvious contempt that you have for them the Igbo will continue to insist on justice, fairness and on having their rights respected in our country.

If you refuse to address their numerous and legitimate grievances and you refuse to treat them with the understanding, sensitivity and compassion that they deserve, the agitation for self-determination, secession and the yearning for the establishment of a new nation called Biafra will wax stronger and stronger until it reaches dangerous and irresistible proportions.

That is what you are toying with Mr. President and if that were to happen be rest assured that the Yoruba would take a cue from it and so would the people of the Niger Delta. It would effectively signify the beginning of the balkanisation of Nigeria.
...

Whether you and those with your world view like to hear it or not, that is the bitter truth.

who is marginalising who? who are they marginalising? let me ask u.....
the minister of labor and employment where is he from? the CBN governor is from where? the NNPC DG is from where? the minister of state for petroleum resources is from where? what about minister of solid mineral? and deputy senate president? and the list can go on and on
...
your opinion is a perfect example of lies and propaganda and unfortunately your fellow enemies of state likes your post