NEWS
CBN Issues Dec. 1, Ultimatum Against Banks, ATM Delays
The Central Bank of Nigeria (CBN) on Friday advised bank customers to report any difficulties withdrawing cash from bank branches or ATMs to the apex bank from December 1.
CBN Governor, Olayemi Cardoso, said this during the 2024 annual bankers dinner in Lagos organised by the Chattered Institute of Bankers of Nigeria (CIBN)
He urged customers to make reports through designated phone numbers and email addresses for their respective states.
Cardoso, who was coffered fellowship of the CIBN, said the guidelines would be distributed widely to raise public awareness.
He called for full regulatory compliance by all stakeholders, including Mobile Money Operators and PoS Agents, to promote digital transaction channels and improve service delivery.
“We also recognize the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians.
“To address this, we are conducting spot checks across Deposit Money Banks (DMBs) and will impose penalties on underperforming institutions.
“Effective December 1, 2024, customers are encouraged to report any difficulties withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states.
“I repeat, financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties,” he said.
According to him, the CBN will continue to maintain a robust cash buffer to meet the country’s needs, particularly during high-demand periods such as the festive season and year-end.
The CBN governor said the focus was to ensure seamless cash flow for Nigerians while fostering trust and stability in the financial system.
He explained the Payment System Vision initiative for 2025 to further enhance confidence in the nation’s payment system.
He assured that payment gateways in settling financial transactions will become better in 2025 as delays will be addressed.
Cardoso said that trust was fundamental to fostering digital transactions, and CBN must take every necessary step to preserve that trust in payment systems.
He said delays often disproportionately affect vulnerable segments of the population, adding that CBN would apply penalties on non-compliant institutions to safeguard consumer trust and ensure swift redress mechanisms.
He said in 2025, CBN would prioritize initiatives including implementing open banking framework, advancing contactless payment systems, and expanding its regulatory sandbox.
“Additionally, we will issue revised guidelines for agency banking and continue to strengthen electronic payment channels”.
He also disclosed that Nigeria would exit the grey list on the Financial Action Task Force (FATF) by Q2 of 2025 while reeling out enforcement plans against money laundering, cybercrime, fraud, corruption, among others.
Prof. Pius Deji Olanrewaju, President/Chairman of the Chartered Institute of Bankers of Nigeria (CIBN), said that 2024 had been an eventful year for the banking industry and the economy.
He said various policies and regulations of the apex bank and the federal government had begun to yield fruit.
“For example, the Nigerian economy continues to be more resilient and agile as shown in the steady growth from 2.98 per cent in Q1 to 3.19 per cent in Q2 and now 3.46 per cent in Q3 of 2024.
“Likewise, the Nigerian banking industry has also shown resilience this year despite the macroeconomic pressures such as rising inflation, and exchange rate fluctuations, amongst others.
“The bank recapitalization exercise also attests to the fact that we are well on our way towards not only strengthening the financial sector but also supporting a $1 trillion economy envisaged by 2030,” he said.
Also, Dr Ibrahim Stevens, Governor of the Central Bank in Sierra Leone praised efforts of the CIBN and Nigeria’s apex bank yielding positive fruits in Africa and globally.
He called for collaboration towards building a sound financial eco system. (NAN)
NEWS
Prophet Bempah Prophesies Bawumia’s Victory in Ghana Election
By David Torough, Abuja
The General Overseer of Authority Arena Ministry, Prophet Bempah Tony Boateng has prophesied that Dr Mahamudu Bawumia, the presidential candidate of the NPP Party will emerge victorious in the 2024 Ghana General Elections. This prophecy was made on Monday at the ministry’s Makurdi branch.
Recall that the Ghana election is scheduled to take place on Saturday, December 7. Prophet Bempah, known for his accuracy, had previously prophesied the victory of President Bola Tinubu in the 2023 Nigerian General Elections, which came to pass. His latest prophecy has generated significant interest and attention, with many awaiting the outcome of the Ghanaian elections.NEWS
World AIDS Day: AHF Encourages Early Testing, Cautions Against Risky Behaviors
From Attah Ede, Makurdi
A Non-Governmental Organisation (NGO), AIDS Healthcare Foundation (AHF)-Nigeria, on Tuesday, cautioned individuals members of the society especially youths and adolescents to avoid risky behaviour andensure they know their HIV status.Country Programme Director of AHF, Nigeria, Dr Eche Ijezie stated this during the commemoration of the 2024 World AIDS Day held in Uyo, Akwa Ibom State capital.
Ijezie in a statement issued and made available to newsmen in Makurdi, harped on abstinence to sex among adolescents including the youths. He noted that where such was not possible, unprotected sexual acts or having multiple sexual partners should be avoided. According to him, “we must ensure that we avoid risky sexual behaviours such as having multiple sexual partners, having unprotected sex and host of others. Everyone must know his or her status, the tests are for free, condoms are for free and available. So, we are encouraging everyone to test and know their status.”Avoiding risky behaviours is crucial for adolescents and youths. We are also harping on comprehensive sexuality education targeted at adolescents and young, persons with the aim being to avoid Sexually Transmitted Infections, (STIs) and unplanned pregnancy”He said a lot of gains have been made over the years in fighting HIV/AIDS, adding that stronger commitments are needed to tackle the prevalence of the virus headlong.His words, “Over the years, across the world and even in sub–Saharan Africa the statistics have fallen due to the concerted efforts by all partners and governments at all levels. “Where we are now is not where we were before, a lot have improved, many have been placed on life saving medications and treatments. “However, we are saying that the fight is not over, it is not time to rest on our oars, it is time for people to remember that we must fight this fight to the finish. Mrs. Elizabeth Udoh, Akwa Ibom state Coordinator for the Network of People Living with HIV/AIDS thanked AHF for the initiative and commended the organisation for carrying their partners along in the commemoration. In her words, ‘’I say kudos to AHF for organising this commemoration in Akwa Ibom state and for involving the youths and other partners. We are happy and we say thank you AHF.’’ Also speaking, the Executive Director of the Drug Free and Preventive Healthcare, Mrs Grace Umosen, said ‘‘the event was a great success, we are happy to collaborate with AHF for this event, and we commend the instructiveness of the program, especially the free HIV tests on offer and free condoms that were distributed to the people.’’NEWS
Religious Leaders, Critical pillars in sustaining Nigeria’s democracy-Akpabio, Kukah
Senate President Godswill Akpabio and the Catholic Archbishop of Sokoto Diocese, Rev. Matthew Kukah, have called on religious leaders to provide the necessary moral guidance for the sustenance of Nigeria’s democracy.They made the call at the National Peace Committee High Level Discourse on Religion and Democracy organised by The Kukah Centre with support from the European Union on Tuesday in Abuja.
According to Akpabio who was represented by Sen. Adams Oshiomole, religious leaders have a critical role to play in promoting democratic values and principles providing the necessary guardrails of conduct to ensure democracy thrives.“Religion has the power to be a tremendous force for good.It can unite us, fostering understanding and respect among our diverse communities.“Too often we have seen religion misused as a tool for division and strife, the dangers posed by violence and intolerance threatens to undermine our democratic values and the principles that hold our society together.“We cannot ignore the pain and suffering caused by religious conflict in the world, pain that disrupts lives, tears apart families, and stifles progress.“As Mahatma Gandhi wisely said, quote, an eye for an eye only end up making the whole world blind. We must remember this truth as we seek to break the cycle of violence.”Akpabio said it was essential for government officials, religious leaders, civil society members, and every Nigerian to heed the urgent call from the National Peace Committee on peaceful co-existence rooted in mutual respect and understanding.Also speaking, The European Union Ambassador-designate to Nigeria, Gautier Mignot said the EU is keenly supporting freedom of religion and belief, both globally and at national levels.“EU supports democracy through a flagship programme called Support for Democratic Governance in Nigeria, implemented in collaboration with various organisations.“It focuses on building strong, effective and legitimate democratic institutions, complementing the efforts of the Nigerian government and people to improve and strengthen democracy. “Mignot added that in Nigeria, the EU promotes freedom of religion and belief through support for efforts to create an environment where everyone would practice their religion freely without fear of persecution.The Speaker of the House of Representatives, Tajudeen Abbas, condemned faith-based organisations that often play perverted roles in mobilising citizens towards social justice initiatives and humanitarian efforts.Abbas who was represented by the Majority Leader Julius Ihonvbere, said when political leaders exploit religious sentiments for electoral gain, or when religious institutions engage directly in partisan politics, it threatens democracy.“The intertwining of religion and politics often complicates governance and can lead to polarisation among our citizens. It is crucial that we recognise these dynamics as we strive for a more inclusive democracy.”“One of the primary challenges facing our democracy is the politicisation of religion.”Abbas said by advocating for peace-building initiatives and encouraging dialogue among different faiths, religious leaders could help build bridges that divided and threatened Nigeria’s democratic fabric.Contributing, Kukah, said that religion was not the problem but the malfunctioning state that increasingly relied on religion to fill gaps in governance.He stressed that both christians and muslims in Nigeria face distorted interpretations of religion, which complicates efforts to achieve a true democratic space.“Our conversation today is aimed at just looking at the intersection between religion and democracy.“In reality, when you look at the kind of indicators and what democracy ought to be able to deliver, there is a correlation between that and the need for us to have a moral foundation on which to build some of these principles.“Yet we know that, in the name of democracy, Nigerians are dying daily. In the name of religion, Nigerians are dying daily.“So something must be wrong. The challenge for us is to try and find that nexus.”Kukah said that Chapter two of the Nigerian Constitution talked about all the security and protection that the Nigerian state is supposed to give to citizens.He urged the State to step to its responsibility of protecting citizens to end religious and political killings.Also speaking, His Royal Majesty,Dr Daniel Ismaila ,Hama ,Bachama, called for the need to put in place early warning signs to avert religious conflicts.Ismaila also called for synergy among stakeholders to continuously create awareness on the need for peace because without peace everything would be grounded in Nigeria.He advocated for mechanism to be put in place for the rule of law to be strictly adhered to and to always punish perpetuators of violence to serve as deterrence to others.In his goodwill message, the Emir of Keffi, Dr Shehu Yamusa III called on religious leaders to educate the people on the importance of democratic principles, good governance, religious tolerance and public accountability.Yamusa said that this would aid in addressing election-related issues and other challenges facing the country(NAN)