News
Standard Chartered Bank Nigeria, the local division of London-headquartered multinational banking and financial services firm Standard Chartered Plc, is discontinuing operation of around 50 per cent of branches in Nigeria, a step targeting prioritisation of digital banking, Bloomberg reported Monday, citing insiders.
The closure teed off in December, which means just 13 branches of the bank will be up and running ultimately, compared to around 25 operating before the move, according to the news outlet.
Lenders are deploying mobile money services on a vast scale in Nigeria to tap the market of the unbanked population comprising approximately 38 million adults, which Dataphyte estimated to be worth N26.2 trillion for the first 11 months of last year.
But formidable competition from mushrooming fintech companies means players late to agency banking rave like Standard Chartered Bank could struggle to gain traction.
The bank is now firming up mobile banking operations at the same time enlisting agents to expand its clientele, according to people who spoke on condition of anonymity.
The lender has centred its operations on corporate banking since it launched in the country but is giving increasing attention to retail banking, which has led to the introduction of digital lending aimed at easing access to soft loans and ramping up the size of retail credit.
Many banks including big lenders see agency banking as a cost-saving alternative to setting up branches and a veritable strategy suitable for reaching rural areas and financially excluded communities.
PT
A former Nigerian leader, Ernest Shonekan, died of “natural causes” on Tuesday morning, his family has said.
Adeboye Shonekan stated this in a statement on behalf of the family.
The late Nigerian leader was 85.
The family said they would release further details in due course.
The Ogun-born statesman was head of the interim government that led Nigeria between the military governments of Ibrahim Babangida and Sani Abacha.
Already, condolences have been pouring in for Shonekan, who was popularly known as the Baba Sale of Egbaland.
President Muhammadu Buhari described the late leader as an internationally-respected statesman with courageous wisdom.
Buhari said Shonekan left his “flourishing business career to become the Head of Government, at a delicate time when the country needed someone of his calm mien and pedigree to save the ship of state from sinking.”
In his condolence message, former President Goodluck Jonathan said Shonekan was a peacemaker and bridge builder who left enduring legacies.
“As a leader, Shonekan was well respected because of the enormous goodwill he brought into governance.
“He was a compassionate and determined administrator, a peacemaker and bridge builder who stepped in to lead the nation at a very difficult time in the history of its political evolution.”
PT
Ojonimi Ossai, an official of Shell Petroleum Development Company, has been killed by his abductors.
The late Ossai was on his way to the burial ceremony of his father in-law at Igala Mela/Odolu local government of Kogi when he was abducted last weekend.
A family source said N5 million was delivered to his abductors, but unfortunately, his corpse was picked from the bush on Tuesday.
Late Ossai, who was said to have spent 23 years in the service of Shell, was reported to have objected to travelling from his base in Port Harcourt, Rivers State, for the burial, but caved in to family pressure.
“He came home in a jalopy car to disguise himself from kidnappers. Yet, he ran into them at Itobe-Anyigba road. We picked his corpse this early morning from the bush,” a family source said.
When contacted, Police Public Relations Officer (PPRO), William Aya, said the command is yet to get details of the incident.
About this time last year, a Saudi Arabia-based oil magnate, Ogacheko Atanu, who was on holiday at Idah was shot dead.
Daily Trust
PRESS RELEASE
President Muhammadu Buhari has approved the appointment of Ayodeji Ariyo Gbeleyi as Chairman of the Board of Directors of the Federal Mortgage of Bank of Nigeria (FMBN).
A Chartered Accountant and an Associate of the Chartered Institute of Taxation, Gbeleyi is a well-known financial expert who was once a Commissioner for Finance in Lagos State as well as a player in the aviation sector.
He replaces Adewale Adesoji Adeeyo who passed on recently.
Femi Adesina
Special Adviser to the President
(Media & Publicity)
January 7, 2022
Nigeria is working to develop a Covid-19 vaccine, President Muhammadu Buhari said in a televised interview on Thursday, as the country battles growing cases of the virus.
Health experts say Nigeria needs to triple its vaccination drive from just over 100,000 doses a day to meet its target of inoculating more than half its population by the end of next year.
The West African country has been exploring options to acquire or purchase vaccines through the COVAX facility to enable it inoculate at least 70% of its population.
"We are working very hard with the ministry of health to develop vaccines," Buhari said on state television. "We shouldn't make noise about it until we succeed."
Speaking to CNN on Friday, Nigeria's minister of state for health, Olorunnimbe Mamora, said the country was working to establish a vaccine-manufacturing hub within two or three years. But this would depend on the availability of funds, he stated.
"Vaccine manufacturing is not done in a jiffy. Yesterday (Thursday), we had engagements with some of our international development partners and funding partners towards developing our vaccine manufacturing hub. It's a joint venture project between the federal government and an indigenous pharmaceutical company," Mamora told CNN.
The senior health official added: "The timeline is a function of how soon we get funding. We have to source funds through international agencies, as well as technological support. So, we are looking at the next two to three years."
Nigeria, which has not tested widely for Covid-19, has recorded 246,195 cases and 3,066 deaths since the pandemic started.
In 2017, Nigeria's cabinet approved a plan to produce basic vaccines with pharmaceutical firm May & Baker Nigeria via a joint venture. It's unclear whether the project took off.
Buhari said his administration is encouraging Nigerians to get inoculated. Fewer than 4% of adults in Africa's most populous nation of over 200 million have been fully vaccinated.
Mamora says vaccine hesitancy was still a problem among Nigerians. "We desire to double or triple our vaccination rate ... to be able to achieve herd immunity by vaccinating not less than 70% of our population, but we are still dealing with vaccine hesitancy," he said, adding, "We have a large stock of vaccines now."
CNN
No fewer than three persons were reportedly killed when gunmen suspected to be Fulani herdsmen invaded Molege community in the Ose Local Government Area of Ondo State on Thursday.
The gunmen allegedly attacked the community following the refusal of the residents to allow the herdsmen to graze on their farms.
After the attack, a source narrated that the herdsmen razed buildings in the community overnight while the villagers fled.
The source said, “The herdsmen in their large number attacked the community in the evening and killed three people. Some hours later in the night, they burnt down houses in the community.”
Another source said the bandits also attacked and injured some men of the Ondo State Security Network Agency also known Amotekun Corps, who moved to the community, to calm the crisis.
Commander of Ondo State Amotekun Corps, Adetunji Adeleye, said the herdsmen attacked his men while on patrol in the community.
Adeleye said, “While on a routine patrol at Molege, our men were informed that some nearby villages in Molege have been taken over by herdsmen while they burnt down some people’s properties.
“We moved in with three patrol vehicles and took control of the situation in the village. On their way back, some men suspected to be herdsmen suddenly opened fire on our men in an unprovoked attack because Amotekun does not want to start firing people.
“We are trying to find out who they were as investigation is ongoing. We urged the people of the community to come back to their homes as peace has returned to the village.”
Similarly, Ondo State Commissioner of Police, Oyeyemi Oyediran, in a statement by the Public Relations Officer, Funmilayo Odunlami, said he paid a visit to community on Friday for an on-the-spot assessment to ascertain the level of damage.
The statement, which also confirmed the attack, said the bandits torched many houses.
The statement read, “The CP during his visit to the scene met with the community members, encouraged them, allayed their fears and vowed to arrest and prosecute all those involved in the evil act accordingly.
‘’Oyeyemi immediately deployed men of the Special Squads and PMF personnel to the community to ensure protection of lives and property in the area.”
Punch
Abimbola Oyewole, identified as a chief superintendent of police (CSP), on Tuesday, defied Babajide Sanwo-Olu, governor of Lagos, during the latter’s visit to Magodo estate to intervene over a planned demolition.
An earlier threat to demolish houses in the estate on December 21 had been resisted by residents, and the police and bulldozers were withdrawn from the estate after the state intervened.
According to the Lagos government, the case dates back to a demolition exercise at Shangisha village between 1984 and 1985, after which a supreme court verdict ordered the state to give the Shangisha landlords 549 plots of land as a “matter of first priority”.
The state, however, said the supreme court verdict only relates to “allocation” and not “possession” of any land, adding that the Shangisha landlords cannot claim any land at Magodo.
On Tuesday, residents had converged in front of the estate, demanding the intervention of the state government amid renewed threat of demolition and police invasion.
Sanwo-Olu had later arrived the estate with some members of his cabinet including Moyosore Onigbanjo, the attorney-general of the state.
On arrival, the governor asked the CSP to explain his reasons for being at the estate without the knowledge of the state.
“It’s a case between the supposed people and the Lagos state government. It has nothing to do with the residents here. Please, can you call your superior in Abuja and tell them the governor is here and I’m the chief security officer and that you don’t have any business being in my state and that I want you to disengage here?” Sanwo-Olu told the CSP.
Responding, Oyewole said: “I’m here on the instruction of the inspector-general of police, through the AGF, sir. I’m too small or too low to call them. Your excellency, with due respect, you can call them directly.”
Sanwo-Olu, however, insisted that he had earlier spoken to Abubakar Malami, attorney-general of the federation, and that the latter had claimed that he wasn’t aware of the police invasion of the estate.
But the CSP insisted on his stance, saying “it is not my duty to call because I’m too low to do that.”
After some back-and-forth, Sanwo-Olu, who described the police invasion as an “illegal operation”, said he would call the IGP and the AGF.
Afterwards, the governor announced that the police officers had been ordered to “stand down”, while a meeting with the affected parties would hold on Wednesday.
The Cable
PRESS RELEASE
A Chief Economic Adviser to the President (CEAP) has been appointed.
He is Doyin Salami, up till now Chairman of the Presidential Economic Advisory Council (PEAC).
A 1989 doctorate degree graduate in Economics of Queen Mary College, University of London, Doyin Salami, 59, is Managing Director and Head Markets Practice at KAINOS Edge Consulting Limited, and member of the Adjunct Faculty at the Lagos Business School (LBS), Pan-Atlantic University, where he recently attained the rank of Senior Fellow/Associate Professor.
The Chief Economic Adviser to the President is expected to address all issues on the domestic economy and present views on them to the President; closely monitor national and international developments, trends and develop appropriate policy responses; develop and recommend to the President national economic policies to foster macro-economic stability, promote growth, create jobs, and eradicate poverty, among others.
Femi Adesina
Special Adviser to the President
(Media and Publicity)
January 4, 2022
Indigenous People of Biafra (IPOB) says the recitation of Nigerian national anthem will henceforth be banned in schools in the Southeast.
Chika Edoziem, IPOB director of state, stated this in a New Year message announcing the plans of the proscribed separatist group for 2022.
Edoziem said school authorities in the Southeast should only teach “the Biafran national anthem”.
He also said all supporters of IPOB across the world would embark on a global campaign to ensure the release of Nnamdi Kanu, leader of the group, from custody.
“The following are some of the programmes and actions which the leadership will vigorously pursue in 2022. These are the ones we can make public for now. Others will be made known at the appropriate time,” Edoziem said.
“Worldwide campaign for the unconditional release of Onyendu Nnamdi Kanu (A Prisoner of Conscience). The Campaign will be called the ‘prisoner of conscience campaign’. In furtherance of this campaign, all IPOB family members, Biafrans and friends of Biafra are hereby urged to change their profile pictures on social media with our official campaign poster.
“Secondly, all IPOB families worldwide are hereby directed to activate the earlier instruction passed down to them. We shall embark on a worldwide protest in cities and capitals around the world. The focus of our protest shall be British embassies, the British Parliament, 10 downing street, the Kenyan Embassies, the Zoo Nigerian embassies and International Organizations like the UN, the EU, Amnesty International and media houses
“The DOS will be creating a new department in IPOB to add to those already existing under the directorate of state. The department will be designated as the IPOB education department. Primary responsibility is to teach our history, language, tradition and culture to our children. We have about three books that will be published this new year in furtherance of this. After the head of this department is made public, Biafran writers will be called upon to bring forward books and educational materials to be published for our children in primary and secondary schools.
“Beginning from tonight, no more Nigerian national anthems in all schools in Biafraland. Our children must no longer be reminded daily that they are under oppression by singing the national anthem of the oppressor. School authorities and proprietors have a responsibility to teach our children our national anthem: The Biafran National Anthem.”
The Cable
A multiple fatal accident involving two passenger buses and a Mitsubishi Cabster has claimed seven lives with twelve injured along Kere, Ewekoro axis, inbound Abeokuta, Ogun State.
According to a statement released by the Ogun State Traffic Compliance and Enforcement Corps, TRACE, the accident occured around 1:45 pm.
Officials of TRACE, Federal Road Safety Corps, FRSC and the Nigeria Security and Civil Defence Corps, NSCDC were reportedly the first responders trying to rescue the victims.
The accident was allegedly caused by the Mitsubishi cabster with number plate XS 595 JJJ, which drove against traffic while the two white passenger buses with number plates LSR 266 YD and LND 01 YE were also overspeeding.
Twelve people including 7 male adults, 4 female adults and 1 female child were seriously injured while 7 people including 4 male adult, 1 female adult, 1 female child and 1 male child were reported dead.
The Ewekoro Command of TRACE said the Injured victims were taken to Ijaye General Hospital and the Federal Medical center, Idi-Aba while those presumed dead were deposited at the Ijaye General Hospital by officers of the FRSC.
Traffic was initially diverted from inbound to outbound Abeokuta for the removal of the vehicles after which the road was cleared for free flow of traffic.
More...
Katsina State Governor, Aminu Masari, has called on residents of the state to arm themselves and confront bandits because security officials alone cannot tackle insecurity in the state.
Katsina, like other Northwest states of Zamfara, Kaduna, Sokoto and Kebbi, has witnessed incessant attacks by terror groups.
Hundreds of people have been killed or kidnapped in Katsina this year with thousands more displaced from their homes.
Speaking during a media parley with journalists at the Muhammadu Buhari House in Katsina, Masari said the number of security personnel is not enough to tackle the situation.
“It’s Islamically allowed for one to defend himself against attack. One must rise to defend himself, his family and assets. If you die while trying to defend yourself, you’ll be considered a martyr. It’s surprising how a bandit would own a gun while a good man trying to defend himself and his family doesn’t have one,” the governor said.
Masari said the state government would help those who plan to own arms with the view to help bring an end to banditry.
“We’ll support those who come with the initiative to procure arms because residents need to also complement the efforts of security agencies. These people (security agents) don’t have the number to protect the people. When President Buhari came, he even tried by increasing the number of our security agents but it’s inadequate. Count it yourself, how many policemen do we have in this country? How many soldiers do we have?
“Even if we say every policeman should go back to his home state, it’ll still not be enough. So, if we fold arms and decide to do nothing, we’ll be the ones to suffer most,” he lamented.
Masari said the police would register all guns bought by the residents to ensure they are put to the right use.
PT
Lauretta Fagbohun, Ogun
...laments state's loss of $16b Dangote refinery to Lagos
The Ogun State Governor, Prince Dapo Abiodun says his administration is working towards ensuring the state takes advantage of its oil rich deposit and becomes an oil producing state.
Abiodun gave this position during the Convocation Lecture he delivered at the 2nd and 3rd convocation ceremony of the Mountain Top University with the topic, "Quest for Excellence: The Nexus of Faith, Knowledge and Resilience".
The governor expressed disappointment that Ogun lost a $16b Dangote refinery to Lagos after a break in discussion between the immediate past administration and Dangote.
He, however, expressed optimism that the state will become an oil producing state, saying "we are working assiduously on that, so, I accept this challenge, we will further strengthen our resolve to ensure that we bring Ogun State to an oil producing status in the very near future".
Abiodun, while also noting that he had the privilege to work as the chairman of the Olokola Free Trade Zone that was meant to have the refinery cited in the state, added that the project was not just conceived with the aim of refining petroleum products only, but to take advantage of the mining lease awarded around the corridor.
"I worked as chairman of Olokola Free Trade Zone that was meant to have the Dangote refinery cited in Ogun Waterside, however, discussions broke down between Dangote and the then administration which led to the loss of that project to Lagos state; a sixteen billion dollar was lost to another state.
"That project was conceived with the aim of not just refining petroleum in Ogun, but also to take advantage of the mining lease that had been awarded around that corridor that has even not begun to be exploited," he said.
The governor affirmed that the state has very rich oil reserves in Tongeji Island, adding that "Ogun state is situated in the Dahomey Basin, which stands for the Niger Delta that goes all the way to Ghana".
"Everyone of the states in that corridor are oil producing today, even Ondo and Lagos states", Abiodun said.
A gang of kidnappers has abducted two Islamic clerics after taking time to eat at their residence at Ayetoro in the Yewa-North Local Government Area of Ogun State.
The kidnappers reportedly took the two friends, AbdulJelil Hussein and Ilyas Jamiu on Saturday around 10pm shortly after they arrived from a public lecture.
The elder brother of one of the victims, Ibrahim Hussein, told our correspondent on Monday that the kidnappers took their time to carry out the operation.
Ibrahim said the kidnappers seized the phones of the occupants of the house, went to the kitchen and ate the food the clerics’ wives prepared with all the meats in the soup.
He said, “It happened around 10pm when they (the clerics) were alighting from the Toyota Highlander which my brother bought two months ago.
“The kidnappers were five and when they came, they laid ambush somewhere in the dark and were able to capture them immediately.
“After they took them, they marched them inside, seized our phones, went to the kitchen, took Eba and a pot of soup; they ate the food and all the meats in the soup before taking them away.”
When asked why the occupants did not resist them, Ibrahim said the kidnappers were armed with weapons.
He noted that the hoodlums had contacted the family and demanded a ransom of N15m.
The state Police Public Relations Officer, Abimbola Oyeyemi, confirmed the incident.
Oyeyemi said police and other security agencies, including local hunters, had begun combing the bush in the area in search of the victims.
He said, “Yes, we are aware. Our men have been there with others, including local hunters, combing the bush.
“We will get them. We have got others in Ijebu-Ode and other areas in the state. We will get them and deal with them.”
Punch
Some youths suspected to be thugs on Monday laid siege to some parts of Obafemi Awolowo University in Ile-Ife and attacked the Vice-Chancellor, Eyitope Ogunbodede, and other management team members of the university.
The youths, who were armed with dangerous weapons including guns and cutlasses, prevented the VC and his management team from accessing some parts of the university land from the Parakin axis, shooting sporadically and brandishing dangerous weapons.
The thugs also attacked and harassed the Public Relations Officer (PRO) of the University, Abiodun Olanrewaju, and reporters, threatening to kill them.
The thugs were believed to have been hired by land grabbers who want to fraudulently claim some parts of the university land.
Ogunmodede described the attack as unfortunate and noted that the federal government would not cede an inch of the university’s land to anyone.
He said the newly completed hostel in the axis where the land grabbers wanted to claim could not be occupied by students since it was completed because of the threat pose to the lives of the students by the land grabbers.
The VC said: “I don’t want to lose any of our students.
“We are short of accommodation for our students but it’s not worth the lives of our students.
“You can see that it is only God that saved us today. You can see the shooting and all sorts of things but we thank God that we all survived it.
“We will try as much as possible to continue to maintain peace because the university can not continue to exist without the community.
“We will try as much as possible to continue to reach a perfect understanding with the community.
“We have been doing it. We have succeeded over many years and we will continue to do it.
“You can see that we are in a very serious situation as far as OAU land is concerned.”
Daily Trust