NEWS
Tinubu Mourns APC Women Leader, Kemi Nelson
Lagos, July 18, 2022 (NAN) Sen. Bola Tinubu, the All Progressives Congress (APC) 2023 Presidential flag bearer, has expressed saddeness over the sudden passing of former Deputy National Women Leader of the party, Chief Kemi Nelson.
Tinubu in a statement he signed on Monday in Lagos, described Nelson as a good woman who was dedicated and worked assiduously for the creation of a Nigeria of everyone’s dreams.
The News Agency of Nigeria (NAN) recalls that the prominent politician died after a brief illness on Sunday at the age of 66.
“I was shocked and saddened by the sudden passing of activist, prominent politician and one of my closest associates, Yeye Chief (Mrs.
) Kemi Nelson.“A nationalist and grassroots mobiliser, Mrs. Nelson ranked highly within our progressive front.
“She could well have achieved and sustained personal success as a private citizen concerning herself solely with the welfare of her family.
“Instead, she passionately committed herself to politics as a vehicle for her to contribute to the common good,” he said.
Tinubu, former Governor of Lagos State, said that throughout the course of Nelson’s life, she did much for the development of the state.
He noted that as a Commissioner, the deceased began the Skills Acquisition and Empowerment Centres in various local government areas across Lagos state.
The presidential candidate noted that till date, the centres had continued to empower disadvantaged women, men and youths in the state.
“We shall never forget Yeye Nelson for her past sacrifice for Lagos and indeed Nigeria; she will be remembered for her commitment to the womenfolk and the downtrodden.
“I will always remember Yeye for her loyalty, sense of duty, abiding compassion for humanity and for always being there for us and our progressive cause,” Tinubu added.
The APC presidential candidate commiserated with Nelson’s family, particularly her doting husband and children.
He also extended his condolences to Gov. Babajide Sanwo-Olu of Lagos state, the APC family, her numerous associates across the country, including the First Lady, Hajiya Aisha Buhari.
He said: “We have all lost an illustrious woman. May we all have the strength to live with this passing.
“I pray that God Almighty grants her eternal rest. Good night Yeye Kemi Nelson. Good night Yeye of the universe.” (NAN)
Foreign News
Earthquake Shakes Western Greece
A strong earthquake has shaken western Greece on Friday morning, but no casualties reported.
The Greek Geodynamic Institute in Athens, said the 5.8 magnitude quake occurred at 9:12 am (0812 GMT) local time.
The epicentre of the quake was about 20 kilometres below the seabed off the west coast of the Peloponnese peninsula near the islet of Stamfani, also known as Strofades.
It was preceded by a smaller quake with a magnitude of 4.
1.Greece’s Civil Defence organisation did not initially say whether there were any casualties or damage to buildings.
A tsunami warning was not issued.
“We felt the tremors very strongly,” a resident of the nearby Olympia region said, adding that
“everyone here is on the streets.
”Local media reported that many schools had been evacuated as the quake was felt throughout western Greece, and on the tourist island of Zakynthos and as far away as Athens, about 300 kilometres away.
The deepest point of the Mediterranean Sea is located between western Greece and Sicily in Italy, with a depth of over 5,000 metres.
The African and European tectonic plates meet in this region, which make it prone to strong earthquakes. (dpa/NAN)
NEWS
Tinubu’s Refusal to Celebrate 72nd Birthday Mark of Good, Great Leadership – Aide
Mr Tunde Rahman, a Senior Presidential Aide to President Bola Tinubu, says the President’s refusal to celebrate his 72nd birthday due to challenging times in the country is a mark of good leadership.
Rahman made the remark in a statement signed by him on Friday, in Lagos.
The President directed that there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour.
The President urged anyone wishing to do such for him to donate the money to charity organisations.
According to Rahman, the decision was taken in deference to the present challenging times which is a mark of good leadership for a leader to have compassion for the people, identify with them and demonstrate he shares in their pains.
The presidential aide described the President as an individual who is compassionate and emphatic toward the pain of others.
He recounted how Tinubu had on several occasions, shelved his birthday celebrations just to identify with the weak and vulnerable in the society.
“In March 2020, on the cusp of his 68th birthday, the President cancelled his birthday colloquium over the outbreak of coronavirus,
“The President said the decision was important amid the overriding public concern over the pandemic.
“Also, on his 70th birthday in March 2022, Tinubu called off an ongoing birthday colloquium to honour victims of Abuja-Kaduna train attack.
“Likewise, in 2023, even after he had convincingly won the election, President Tinubu did not celebrate his birthday, saying he will devote the moment for reflection on the huge task ahead.
“This is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain,” he said.
Rolling out the achievements of the Tinubu led administration, Rahman said the President had instituted bold reforms, notably the removal of fuel subsidy and the unification of the multiple foreign exchange rates
He assured that there is light at the end of the tunnel.
“Light is not only assured at the end of the tunnel, it is presently beginning to shine brighter and brighter through the tunnel.
“For instance, naira has continued its streak of rebound and steady appreciation.
“More remarkable is the courage, political will and personal commitment to effecting a change and improving the quality of life of the people in line with the Renewed Hope Agenda the President has brought to the fire.
“This shone brilliantly in his handling of hydra-headed problems.
“To speedily effect changes in the country’s security architecture and enhance safety of lives and property, the President, working in collaboration with state governments, has set up a high powered committee to draw up modalities for the introduction of state police.
“There is also the Pulaaku initiative, a non-kinetic effort aimed at addressing the root causes of farmer-herder conflicts and fostering national unity, ” he said.
Rahman also lauded the President’s order on releasing of N50 billion as operational fund for its immediate take off.
“The initiative, expected to revitalise the communities through the construction of residences, roads, schools, and essential facilities, will initially focus on seven states namely, Sokoto, Kebbi, Benue, Katsina, Zamfara, Niger, and Kaduna states.
“An executive order to further boost investment, create jobs and business opportunities in the oil and gas sector is in place while the Federal Government in collaboration with states, again are engaging in mechanised agriculture among other initiatives,” he said.
Rahman stated that the Tinubu government is thinking and working frantically to ensure initiatives put in place were executed effectively and that his governance remained impactful and enduring.
The presidential aide, therefore, urged citizens to continue to play their part to make Nigeria a prosperous nation. (NAN)
NEWS
New Banks’ Minimum Capital Requirement will Enable Long-term Loans, Says ex-ANAN President
A financial expert, Dr Samuel Nzekwe, says the Central Bank of Nigeria’s (CBN) new minimum capital requirement for Nigerian banks will enable them to finance more long-term loans.
Nzekwe, a former President of the Association of National Accountants of Nigeria (ANAN), made this assertion in an interview with newsmen on Friday in Ota, Ogun.
NAN recalls that the Acting Director of the Corporate Communications Department of the bank, Mrs Hakama Sidi-Ali, on Thursday, in a statement, announced that the new minimum capital for merchant banks would be N50 billion.
Sidi-Ali also said that the new requirements for non-interest banks with national and regional authorisations are N20 billion and N10 billion, respectively.
For international authorisation, it was raised from N100 billion to N500 billion.
All banks are required to meet the new capital requirements within 24 months, beginning from April 1 to March 31, 2026.
Nzekwe commended the CBN’s decision to increase the minimum capital base of Nigerian banks, saying that move would enable them to fulfil their role as financial intermediaries effectively.
“It is a positive step as it will enable banks to finance large-scale investments in the country.
“For the economy to grow, we need strong banks capable of providing long-term loans, which sometimes require 10 to 15 years for repayment or even offering a five-year moratorium,” he said.
The former ANAN president highlighted the current difficulty faced by banks in financing long-term loans or major projects.
Nzekwe expressed optimism that this development would prompt the apex bank to inject more funds into the financial system.
This, he explained, would encourage more borrowing from banks and therefore stimulate the growth of industries.
He commended the CBN Governor, Yemi Cardoso, for raising the minimum capital requirement for banks to a new level.
The financial expert noted that the apex bank had structured it in a way that banks would not need to bring retained earnings to the capital base but generate new additional funds. (NAN)