NEWS
Banks’ Recapitalisation: SEC Guidelines Makes Process Transparent, Stable –D-G
The Securities and Exchange Commission (SEC), says its guidelines on banking recapitalisation has made the process more transparent and easily accessible for citizens’ participation.Dr Emomotimi Agama, the Director-General (D-G) of SEC, said this in a statement in Abuja on Sunday.Agama said the management of the Commission was interested in integrity and transparency of processes, hence the provision of clear guide before the recapitalisation commenced.
He said this was the major ingredient of a transparent capital market. The director-general said the Commission had learnt few lessons from previous banks’ recapitalisation, saying that those lessons had led to the creation of a seamless environment for the process to thrive.He said that apart from the introduction of the guidelines, the Commission also provided the needed technology to help deal with it.”The banking capitalisation is a very important step by the government to strengthen the banks and indeed provide capacity for the banks to lend to the real sector for us to drive the economy.”This is as provided for by the Renewed Hope Agenda and the design of President Bola Tinubu to turn out a one trillion dollar economy.”So the guidelines have brought about stability, transparency to the recapitalisation process and public offerings have increased.”You see the interest being galvanised by the actions of the SEC in trying to make sure that this is a success,” he said.He said the Commission would continue to support the Central Bank of Nigeria (CBN) and to every institution that understood the value of the capital market.”The capital market is indeed the barometer of the economy and the SEC is ready to live up to that bidding; I want a more sustainable industry,” he said.Agama said the Commission was cooperating with the CBN, the Federal Inland Revenue Service (FIRS) and Office of the National Security ADVISER (NSA) to ensure a safe environment for investments to thrive.He said the move was geared toward attracting the youth populace to the market.Agama said that SEC had embraced innovations to make the capital market attractive to youths.The director-general said that the Commission would continue to guide youths to unleash their potential in the area of Fintech. (NAN)
The World Health Organisation (WHO) has accused Israel of barring medical specialists from entering Gaza to support clinics in the besieged enclave.
The WHO said since August, eight organisations and over 50 specialised personnel had been affected by Israel’s blockade.
The specialists were intended to provide crucial support for various medical services, as well as psychological support for healthcare workers at facilities including the European Gaza Hospital and the Nasser Hospital, the WHO said.
It was reported that among the organisations denied entry was the U.S.non-profit Palestinian American Medical Association, which supports Palestinians in need of medical care.
According to the WHO, this marks the first instance in which Israel has denied entire organisations the ability to participate in relief efforts for the Gaza Strip.
The WHO reported that in the past week, support teams conducted 25 per cent fewer operations than usual.
With only 17 out of 36 clinics and 43 medical practices remaining partially operational, the WHO emphasised the irreplaceable role of these external teams in providing essential medical services.
The WHO called for full access for emergency aid teams. (dpa/NAN)
It is Germany’s responsibility to make sure that a war between Russia and Ukraine does not become a war between Russia and NATO, German Chancellor Olaf Scholz.
He said this as he repeated his “nein” to sending long-range weapons to Kiev.
“I don’t consider this to be a proper delivery and that’s how it will stay,” Scholz said after a European Union summit in Brussels.
Scholz rejected key points in Ukrainian President Volodymyr Zelensky’s “victory plan” out of concerns of future escalation.
Zelensky presented his “victory plan” at the meeting and called on Scholz, again to send him Taurus cruise missiles.
The Ukrainian leader believes a deterrent missile arsenal could force Russia into peace negotiations.
Scholz also maintained his stance against a quick invitation for Ukraine to join NATO, as outlined in Zelensky’s plan.
The United States also opposes a fast-track NATO entry for Ukraine.
The chancellor referred to the resolutions of the most recent NATO summit in Washington, which offers Ukraine a general assurance that it could no longer be stopped on its way into the defence alliance.
He further said all allies must agree that NATO conditions are met for an invitation.
These include reforms in the areas of democracy, the economy and the security sector.
Scholz also used the occasion to take a swipe at his main opposition in the Bundestag or German parliament, Christian Democratic (CDU) leader Friedrich Merz.
He complained that Merz flip-flopped on Taurus deliveries, taking a no-delivery position before key elections in east Germany and changing his position after that. (dpa/NAN)
The Kebbi Government has announced the closure of the College of Health Sciences and Technology, Jega, indefinitely following a violent protest by students.
The Commissioner for Higher Education in the state, Alhaji Isah Abubakar-Tunga, made this known in Birnin Kebbi on Friday while briefing newsmen.
” Sequel to the violent protest that resulted in the setting ablaze the residence of the Provost of the college, Alhaji Haruna Saidu-Sauwa, we have directed that the college be shut down indefinitely,” he said.
Abubakar-Tunga said the action became imperative in view of the fact that if the demonstration was allowed to continue, it might escalate.
”Students are hereby advised to vacate the college premises with immediate effect.
” Their main target was the Provost, they burnt down his house and completely vandalised his car.
” When we visited the college, we only met the Registrar of the school. The Divisional Police Office (DPO) of the area yold us the provost was in a safe pace.
”But for the DPO’s intervention, the students would have lynched the provost,” he said.
Abubakar-Tunga said that the government asked the rioting students to nominate 10 representatives for dialogue.
” While deliberating with the students’ representatives, the students outlined some of their grievances to include; lack of accreditation of some courses of the college.
” Others they said are; lack of toilets, lack of potable water, poor sanitary environment, and bad leadership, among others.”
”The college will remain closed for three weeks to one month. Before the students return, they must come with their parents and must write an undertaking, promising to be of good behaviour.
“In this undertaking, every student must promise to pay for damaged property,” he said. (NAN)
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