Universal World Best

  The Association of Corporate Affairs Managers of Banks (ACAMB) has denied trending social media messages that the Central Bank of Nigeria (CBN) ordered Deposit Money Banks (DMBs) to shut down services for five days because of the Presidential and National Assembly elections scheduled for February 25, 2023. This was revealed in a statement signed and released by President of ACAMB, Rasheed Bolarinwa. ACAMB is the umbrella body of Corporate and Marketing Communications Professionals working in Nigeria’s banking sector. See full statement below: Banks not shutting down banking services for elections – ACAMB The attention of the Association of Corporate Affairs Managers of Banks (ACAMB), the umbrella body of Corporate and Marketing Communications Professionals working in Nigeria’s banking sector, has been drawn to the trending social media message purporting that the Central Bank of Nigeria (CBN) was shutting down banking services for five days from Thursday, 23rd to Monday 27th Febr...

  Nigerians have always been ingenious at devising ways of beating the system. Following the biting scarcity of cash and the Central Bank of Nigeria's (CBN) stance on the illegality of spraying naira at parties, event planners in Lagos have found a new way of beating CBN’s directive against the abuse of the naira notes. Read more: Nigerians have always been ingenious at devising ways of beating the system. Following the biting scarcity of cash and the Central Bank of Nigeria's (CBN) stance on the illegality of spraying naira at parties, event planners in Lagos have found a new way of beating CBN’s directive against the abuse of the naira notes. Read more:   https://universalworldbestking.blogspot.com/?m= 1 A Lagos-based event management outfit, 247SL, began an innovative method of staying within the norms and obeying CBN directives at the same time. Vouchers available in N200, N500 and N1000 notes The event management company printed the naira look-alike vouchers for partygoer...

  By Godwin Oritse THE restriction of access of Foreign Exchange (forex) on the importation of Stock Fish has affected both the export of the commodity from Norway tom Nigeria and Vice Visa. Speaking to Vanguard in Lagos during a tour of the Stock Fish market in Oyingbo, Lagos,  Eivind Fjeldstad, Businsess Counsellor at the Royal Norwegian Embassy, Abuja, said that the Norwegian Government is very hopeful that the Government of Nigeria will remove stock fish from the list of commodities banned from access to official foreign exchange  window because Nigeria is the biggest market for the Norwegian stock fish in Africa. Fjeldstad also said that the importation of stock fish is not in competition with local fish production in Nigeria adding that the commodity is also the cheapest source of protein in Nigeria. He explained that importers are being challenged by first of all sourcing Forex at a very exorbitant rate before placing order and this development has also brought abo...

  Ahmad Salihijo Ahmad is an energy, environmental specialist and the current Managing Director/Chief Executive Officer of the Rural Electrification Agency (REA). The agency is charged with the responsibility of providing access to reliable electric power supply for rural dwellers irrespective of where they live. Ahmad speaks, in this interview, on how his agency is boosting the economic development of rural dwellers while discharging their duties. Excerpts: By Olalekan Bilesanmi Your agency focuses on rural electrification and in implementing your mandate, several households are benefiting from improved livelihoods, could you please tell us about how your agency is contributing to this. Primarily, the Rural Electrification Agency (REA) is an implementing agency of government, set up through the Electric Power Sector Reform (EPSR) Act of 2005, and is under the supervision of the Federal Ministry of Power. The Agency is mandated to provide power to the unserved and underserved Niger...

  Open branches weekend, expect clearer directive todaylPoS operators ignore CBN warning on selling banknoteslExperts in divergent view on implementation, impact The banking industry was in disarray over  implementation of the directives of the Central Bank of Nigeria, CBN, on collection of the old banknotes in the denominations of N500 and N1,000 during the weekend. The apex bank was said to have directed the banks to collect the old banknotes which it had declared non-legal tender with effect from February 10,2023, prompting the banks to not only issue mails to customers to come and deposit their old notes but actually began to collect the old notes. The commercial banks also sent out emails to their customers on Friday, re-opening their branches last Saturday after suspending weekend banking previous weekend with the deadline of old notes acceptance. However, with a statement from the CBN late Friday denying the alleged directive to collect old notes, some of the banks susp...

  She’s trying to comfort both of them the girl 👧 is not someone, someone should called girlfriend cause she no worth wife material’s please comment below what your thoughts about this act 

  Nigerians, your patience is not enough. I saw my brother in a dream - the one that I shared the same womb with plus the one that grew next door with me in a village in the middle belt of Nigeria. Both of them sitting down, having a drink at a restaurant that serves rice drinks. Prior to that dream, was the live battle against a man that turned a woman that got chopped to pieces, yet she would not die til the final confrontation where I was being asked, “Don’t fight with carelessness.” And like a Yoruba Nigerian, I said, “Leave me, Jere, let me fight!” throwing an elbow backwards where I was awoken with the physicality of reality that I am elbowing my wife laying next to me. I was fighting death to reality. These are the two choices. It’s either Nigeria patiently awaits and endures the last few moments of months and votes the “right person” in power to help alleviate the current issues Nigeria has or Nigeria can do what it does best and use it’s “eegun ori” - bonehead of stubborn ...

  CBN orders banks to collect old N500, N1,000 notes By Babajide Komolafe,  Economy Editor The Central Bank of Nigeria, CBN, has directed Deposit Money Banks to collect old N500, and N1,000 notes from customers with reference code generated from its website. Multiple bank sources told  Vanguard  that the branches received a directive from the head office some hours ago that they should collect the old notes from their customers who have enrolled and generated reference code from the CBN website. A top CBN official confirmed the directive: “Yes we have directed them to collect the old N500 and N1,000 from customers, subject to maximum of N500,000.” Recall that President Muhammadu Buhari directed that the old N500 and N1,000 notes were no longer legal tenders, but that those having the notes should take the notes to the CBN.

  This reportedly happened at CBN in Gombe State today.  The deposits are overwhelming.  Some customers are coming with as much as N150million to the CBN. This is a customer with about N81m, all strapped.  Thank God the security agencies are on ground.

  By Godwin Oritse THE Deputy Minister for Overseas Koreans and Consular Affairs, Republic of Korea, Choi Yeong, has said that Nigeria is the gateway to unlocking the potentials of the African Blue economy. Choi Yeong made the assertion during a courtesy call on the management of the Nigerian Maritime Administration and Safety Agency, NIMASA, in Lagos in company of the Korean Ambassador to Nigeria, Kim Young Chae. He commended the sustained and improved security situation in the Gulf of Guinea with the strong presence of Nigeria, adding that the Korean government looks forward to continuous support from the Nigeria government in the area of intelligence and information sharing. He stated: “Nigeria is one of the biggest countries on the African continent in terms of economy size, population and market potential. So Nigeria could be a very important partner to us the People of Korea. Nigeria could be our gateway to the whole of the African continent.” Director General, NIMASA, D...

  By Victor Ahiuma-Young The Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, has said no less than N5 billion was lost and seven bank branches completely destroyed, following the violent protests and attacks that trailed fuel and naira scanty in some states of the federation. President of ASSBIFI, Olusoji Oluwole, who disclosed this at a briefing in Lagos yesterday, condemned the unwarranted attacks on banks by aggrieved Nigerians frustrated by their inability to get new naira notes. He called on the public to desist from threatening or attacking bank workers, or destroying bank properties, as bankers were also victims of the poorly implemented currency redesign. On the upsurge of violence over the scarcity of new naira notes, the ASSBIFI President said the N5 billion was based on the attack on about five banks and seven branches across Ogun, Edo, Delta, Oyo, and Uyo states. He said bank branches were burnt, Automated Teller Machines, ATMs, dest...

  By Victor Ahiuma-Young Ahead of the general elections, Organised Labour, Nigeria Employers’ Consultative Association, NECA, politicians and other stakeholders yesterday gathered in Lagos to strategize on free, fair and credible polls Among participants were the All Progressives Congress, APC, African Action Congress, AAC, the Police, media practitioners and Civil Society Organizations, CSOs. At the one day workshop, organised by Labour Writers Association of Nigeria, LAWAN, with the support of Friedrich Ebert Stiftung, FES, Foundation, participants were unanimous that all stakeholders must work towards the success of the polls. In his remarks, the Director-General, Michael Imoudu National Institute for Labour Studies, MINILS, Ilorin, Kwara State, Mr Issa Aremu, called on the media to continue its critical, patriotic role in the fight and sustenance of the nation’s democracy. Aremu said:  “The media fought seriously for the nation’s democracy. Despite the observed challe...

  Following the killing of a soldier by policemen which led to the burning of Ogijo Police Station by soldiers, the Ogun State Police Public Relations Officer, Abimbola Oyeyemi, and his counterpart in Lagos state, Benjamin Hundeyin, have issued conflicting statements. It was reported that some policemen stabbed an unidentified soldier to death in Ikorodu, Lagos State. The incident happened at the border town of Ogijo, between Ogun State and Lagos State. Reports have it that the policemen ran away to Ogijo Police Station when they discovered the victim was an officer. Minutes after, it was reported that soldiers stormed the station and burnt it down. However, reacting to the incident, Ogun State Police Public Relations Officer, Abimbola Oyeyemi averred that: “That is a misconception, a mobile man serving in Lagos was the one that killed the soldier. I don’t know why the soldiers will go and start burning Ogijo Police Station when the issue happened in Odogunyan, which is in Lag...

  It is important to note that Nigeria is a country with a complex political, economic, and social history, and there are many factors that can contribute to the suffering of its people. Some of the challenges that people in Nigeria face include poverty, inequality, corruption, political instability, ethnic and religious tensions, and security issues. The government of Nigeria has a responsibility to provide basic services and create an enabling environment for its citizens to thrive. However, the effectiveness of government policies and actions in Nigeria has been a subject of debate, with some people criticizing the government for failing to address key issues affecting its people. For instance, the country has been facing an economic recession, high unemployment rates, and a high cost of living, which have made life difficult for many Nigerians. Additionally, the government has been criticized for its handling of security challenges, including terrorism, kidnapping, and communal...