NEWS
Expert Advocates IT, BVN Deployment to Fast-track Offer Verification
An economist, Mr Johnson Chukwu, has urged the Central Bank of Nigeria (CBN) to leverage existing infrastructure and Bank Verification Numbers (BVN) to address delays in verifying bank transactions.
Chukwu, the Chief Executive Officer of Cowry Asset Management Ltd.
, raised the concern at the annual workshop of the Capital Market Correspondents Association of Nigeria (CAMAN) in Lagos.The theme of the workshop is: “Banks’ Recapitalisation: Bridging the Gap Between Investors and Issuers in the Nigerian Capital Market”.
He noted that leverage existing infrastructure and BVN was to ensure speedy conclusion of the verification process.
According to him, the delay in the apex bank’s verification process, four months after the closure of some offers, has continued to raise concerns among investors.
Chukwu said the deployment of high level of IT available at the CBN and the use of the BVN would fastrack the process of accepting or rejecting the offers.
He added that this would enable investors get their allotment or deploy their funds in other profitable economic activities.
He noted that while the apex bank’s role in verifying the source of the capital invested was important, the longer period for completion of the verification process was dampening investor confidence.
Chukwu said that this was particularly worrisome for investors whose funds may be returned where the offers may be oversubscribed, as they would miss reinvestment opportunities.
He also stated that the current CBN requirements for investors investing in banks shares were seen by many as overly stringent and creating barriers for both issuers and investors.
Chukwu cited the provision of three-year audited financial statements, board resolution authoring the investment and tax clearance certificates for the past three years for corporate investors.
He noted that these requirements were disincentive to investment in the capital market.
According to him, while regulation is necessary for maintaining the stability and integrity of the financial system in ensuring that unqualified capital is not invested in the banks.
He added that there was need to leverage on existing customer information in the banking system to avoid imposing onerous conditions on investors.
Chukwu described banks’ recapitalisation as a key strategy for strengthening the Nigerian banking sector and fostering economic growth.
He, however, argued that the success of these efforts would hinges on effectively bridging the gap between investors and issuers in the capital market.
Chukwu said banks capital raise through successful IPOs, rights issues and bonds strengthens investor confidence and sends a positive signal to the broader financial market on the role of the capital market.
He said: “A well-capitalised bank is perceived as financially stable, reducing risk for investors and enhancing market confidence.
” This encourages further investment in the banking sector, which is essential for the sustainable growth of the industry.
He, however, called for concerted efforts from both banks and investors, supported by regulators in ensuring that the Nigerian banking sector remains resilient, competitive, and capable of driving the country’s economic growth for the future.
Chukwu also urged the CBN and other regulatory bodies to work together in creating a more predictable regulatory environment for banks and investors.
“The frequency of regulatory policy changes need to be moderated to allow for better planning for both banks and the investing public, as well as reduce the regulatory and operational risks associated with these frequent changes.
“Banks must commit to improving their transparency and disclosure standards. This includes the publication of detailed and accurate financial statements, risk disclosures, and forward-looking guidance,” he said.(NAN)
Foreign News
Delegates in China Denounce Xenophobic Attacks
African delegates attending seminars in China have condemned reported xenophobic attacks against foreign African nationals in South Africa and called for greater unity across the continent.
The delegates made the condemnation on the sidelines of training programmes organised by the Academy for International Business Officials (AIBO) under China’s Ministry of Commerce.
They described the reported attacks as disturbing and contrary to the ideals of Pan-Africanism, solidarity, and peaceful coexistence.
Yusupha Bojang of The Gambia’s National Council for Civic Education said Africans must see themselves as one people irrespective of colonial-era boundaries.
“We first have to recognise that in Africa we are all one. These boundaries are artificial creations. We should treat each other as brothers and sisters,” he said.
Bojang said frustrations over domestic challenges should not be directed at fellow Africans lawfully residing in another country.
“If you have any problem, it should be channelled to your government, not innocent citizens legitimately carrying out their activities,” he said.
He urged Africans to speak with one voice against xenophobia.
“We need to unite. When we see wrongs happening, we should all come out to condemn them because it can happen to anybody,” he added.
Also speaking, Jallow Gibbi, a journalist with Dunia Radio in The Gambia, said he was saddened by reports of Africans attacking fellow Africans.
“When I watched the news, I was embarrassed to see Africans fighting Africans. It is not humanitarian and it should not happen,” he said.
Gibbi called on African leaders and international organisations to promote peace and unity across the continent.
“We are all the same. One Africa, one people. We should unite and stay together,” he said.
He said information from Gambian diplomatic authorities indicated that no Gambian citizen had been reported affected, while advising nationals to remain vigilant.
Mr Richard Jombi James of South Sudan’s Ministry of Culture, Museum and National Heritage described African unity as essential to the continent’s progress.
“We are all Africans from the north to the south, east and west. We cannot attack ourselves. We are one Africa, one people,” he said.
Kawu Muhammed Lawan of Nigeria’s Federal Ministry of Arts, Culture, Tourism and Creative Economy said the reports were particularly troubling given the support many African countries provided during South Africa’s anti-apartheid struggle.
“Looking at all the efforts other African countries made to end apartheid in South Africa, it is embarrassing to witness hostility against fellow Africans today,” he said.
Lawan urged African leaders to take practical steps to protect citizens across the continent and strengthen regional integration.
Similarly, Emmanuel Nok, a legal practitioner with South Sudan’s Ministry of Culture, Museum and National Heritage, said Africans should reject violence and discrimination against one another.
“We feel hurt as Africans when we see fellow Africans being hunted by other Africans. We should condemn such behaviour because it goes against the spirit of African brotherhood,” he said.
Nok noted that many African countries host citizens from neighbouring states and stressed that peaceful coexistence remained vital for economic development and regional cooperation.
The delegates called on governments, regional organisations and civil society groups to promote tolerance, strengthen social cohesion and uphold the principles of African unity.
They also urged Africans to focus on common development goals, saying stronger cooperation would advance peace, prosperity and integration across the continent.
NEWS
Kogi Targets 240,000 Children for Schistosomiasis Mass Drug Administration
From Joseph Amedu, Lokoja
The Kogi State Government said it will reach over 240,000 children aged 5–14 years in 39 wards across 15 Local Government Areas (LGAs) in the 2026 Schistosomiasis Mass Administration of Medicines (MAM) exercise.
The campaign is scheduled for June 22–30, 2026.
The target was unveiled at a two-day state-level planning meeting convened Wednesday by the Ministry of Health, Department of Public Health – Neglected Tropical Diseases (NTDs), Control Programme in collaboration with Sightsavers.
The meeting aimed at developing strategies for 2026 treatment targets, validate drug quantification, strengthen micro-planning, and finalize the implementation timeline for schistosomiasis, also known as bilharzia.
Declaring the meeting open, the Commissioner for Health Dr Abdullazeez Adams, said schistosomiasis remains a public health challenge in Kogi, affecting school-age children, farmers, fishermen, and communities near freshwater bodies.
Represented by the Permanent Secretary Maji Enoch, the commissioner noted the disease reduces school attendance, affects productivity, and impacts health outcomes.
He said the meeting would review performance from previous rounds, strengthen social mobilization and training of teachers and Community Drug Distributors, CDDs, and focus on data quality, equity, and beneficiary safety.
He commended Sightsavers and the Federal Ministry of Health for technical and financial support, and urged LGAs to maintain strong collaboration “to reach the last child in the last community.”
The National Programme Manager, Dr Jacob Solomon of the Federal Ministry of Health (FMOH), said Nigeria is working toward WHO’s 2030 elimination target for schistosomiasis and soil-transmitted helminthiasis.
He described Kogi’s progress since baseline mapping as “significant” and urged participants to remain diligent to reach the “last mile.”
Solomon confirmed the programme targets all children 5–14 years, whether in school or out of school.
The State NTD Coordinator, Musa Momohjimoh, said the intervention will use Praziquantel in 39 wards identified as endemic from a 2015 survey and revised WHO strategy.
According to him, teachers will administer drugs in schools while health workers supervise, and CDDs will reach out-of-school children.
He said radio jingles and engagement of religious and community leaders will drive awareness.
Sightsavers Programme Officer, Phoebe Hindan, said treatment will cover only wards with demonstrated need based on evidence.
She described Praziquantel as safe and effective, used in Kogi for over 10 years, and urged parents to allow children to participate.
She noted misconceptions have caused refusals in the past, and warned untreated schistosomiasis can lead to other complications in the future.
The government said the campaign will cover public, private schools and out-of-school children, with parents directed to contact the State Ministry of Health for enquiries.
Salihu Usman, a participant and former Education Secretary of Kogi LGEA, assured the government of the participants’ commitment to a result-oriented MAM exercise that will deliver on its goals and objectives.
NEWS
Anambra Urges Residents to Provide Information on Fake Pastors, Others
From Sylvia Udegbunam, Enugu
The Anambra State Government, under the leadership of Prof. Chukwuma Charles Soludo, has extended the “War Against Fake Native Doctors” to fake pastors and other individuals masquerading as genuine men and women of God while engaging in criminal practices.
This is disclosed in a public announcement signed by the Commissioner for information and value reformation Anambra state, Law Mefor, noting that it is part of the efforts of the Solution Government to rid the state of all forms of criminality and sanitise both traditional worship and religious practices in order to restore sanity, law and order in the state.
To this end, the government is calling on Ndị Anambra and all residents of the state with credible information on pastors, churches, or so-called “men of God” involved in criminality, extortion, fraud, deception, or any act that endangers lives and the peace of our communities or misleads the people in the state to please speak up. All information will be treated with absolute confidentiality.
Despite the negative claims made during the campaigns against the effort to clean up criminals pretending to be traditional healers and real religious leaders, this effort will actually protect the true freedom of traditional worship and religious practice.
Let us work together to take back our state from criminals hiding under religion, culture and tradition.
Call +2348034182108 or 5111 if you have any useful information.


