The Nation Newspaper

Author: The Nation

  • 25 percent retirement savings for mortgage bridging housing deficits – MBAN

    25 percent retirement savings for mortgage bridging housing deficits – MBAN

    The Mortgage Bankers Association of Nigeria (MBAN) has described Federal Government’s approval of the guidelines, which allow pension funds account holders to access 25 percent of their balances for mortgage purposes as a major solution to the nation’s housing deficit.

    MBAN, in a statement by its President, Mr. Ebilate Mac-Yoroki, and Executive Secretary, Mr. Kayode Omotoso, was reacting to the approval of guidelines by the National Pension Commission (PenCom), allowing Retirement Savings Account (RSA) holders to access 25% of their savings for residential mortgage.

    It however charged the Federal Government to take the next step of firming up the effectiveness of the financing initiative by setting up and operationalising the Nigeria Mortgage Guarantee Company (NMGC), a credit enhancement platform, which it said is already being finalised by the FSS2020, a department of the Central Bank of Nigeria (CBN).

    PenCom on Friday announced the approval of the guideline, which allows eligible RSA holders to approach their Pension Fund Administrators (PFA) to gain access to 25% of their pension savings, strictly for mortgage purposes.

    The body also lauded President Muhammadu Buhari and PenCom for taking a decision that will make it easier for working-Nigerians to become home owners.

    It commended the initiative that resulted in the approval, saying it is one of the landmark steps and decisions for which the Muhammadu Buhari-led administration will be remembered, praising the Director-General of PenCom, Mrs. Aisha Dahir-Umar, for her role in the approval.

    According to the statement, Mac-Yoroki described the approval as an elixir for the staggering housing deficit, as well as positively impact the economy generally.

    It expressed delight at the fruition of a move it claimed to have initiated as an advocacy issue with PenCom, and later further escalated by other stakeholders in the sector.

    “We are indeed glad and elated that this novel idea has finally become a reality. It commenced silently as an advocacy issue with PenCom that originated from MBAN, which thereafter was escalated to full advocacy issue by stakeholders on the platform of the former Nigerian Housing Finance Program (NHFP).

    Read Also: Mortgage: Pension contributors can now use 25% savings for payment

    “However, all the continuous efforts were in the last few months finally coordinated with PenCom by FSS2020 and MBAN, which culminated into the broad guidelines issued by PenCom on the idea.

    “The Mortgage Bankers Association of Nigeria wishes to commend the federal government, under the watch of President Muhammadu Buhari, the Central bank of Nigeria (CBN) and particularly the National Pension Commission (PenCom), for this landmark approval. This is another reason for which the President’s name will be remembered positively.

    “The estimated over 28 million units of housing deficit is staggering indeed and will be requiring trillions of naira to offset. This new approval, though not all that might be needed to solve the problem, will be a giant step towards bridging the housing gap for many Nigerians, whose major setback has been financing.

    “With granting of the approval that allows Retirement Savings Account (RSA) holders to access 25% of their balance towards payment of equity for residential mortgage, government will be solving more than just the problem of housing, but will also be giving the economy a boost as many mortgage-related sectors, like construction and banking, will receive more vigour.

    “As an association, which is directly concerned with the mortgage market, MBAN will, in its usual approach, be doing everything necessary to support government in ensuring that the primary target of giving the approval, which is eliminating the housing gap and creating an easy environment for beneficiaries to acquire their dreamed homes, is achieved to the adequately.

    “This step by government will have a rippling impact on our nationhood and the achieve the sort of reform we have hoped for in the work place, either private or public. For instance, it will rejuvenate the work ethics and culture across the sectors because, as they say, a man or woman who has solved his housing question is a more productive employee,” the statement reads.

    On how the approval will achieve its designed potential, the statement explained: “Its breadth and depth would only be fully achieved with the setting up and take-off by the Nigeria Mortgage Guarantee Company (NMGC), a credit enhancement initiative that is currently being finalised by FSS2020, NMRC, MBAN/mortgage banks, for Nigerians to take the fullest advantage”.

    It also appealed to the Federal Government to give incentives to local companies in the business of manufacturing building materials like tiles, wires, cement, doors and other building accessories, saying it will help in the reducing the cost of buildings, just as it will positively affect the economy.

    Pic caption: Mr Ebilate Mac-Yoroki, President of the Mortgage Bankers Association of Nigeria (MBAN)
    Attachments area

  • Kano, Adamawa, Bauchi, Gombe yet to sign child rights act –UNICEF

    Kano, Adamawa, Bauchi, Gombe yet to sign child rights act –UNICEF

    The United Nations Children Fund (UNICEF) has decried the inability of Adamawa, Kano, Bauchi and Gombe States to signbthe child rights act into law.

    The delay, it said, deprives the States the requisite legal frameworks for protecting children.

    The four States are the only ones left out of the 36 States of the federation yet to sign and adopt the Child Rights Act.

    UNICEF Child Protection Manager, Kano Field Office, Mrs Emelia Allan, stated this to reporters in Kano.

    She said State Assemblies also contributed to the delays.

    According to her: “We started this year with 9 States. Today, as I speak with you we are left with 4 States, Kano, Adamawa, Bauchi and Gombe that are yet to sign the child rights act.

    ‘’In Kano particularly, the child rights bill was sent to the State House of Assembly for the past two years but has not been signed by the lawmakers’’.

    Read Also: UNICEF laments Northeast’s children’s education challenges

    The UNICEF boss further called on the 4 States to expedite action in signing and adopting the child rights act in other to provide good protection for children in their respective states.

    She also called on the media to accommodate the interests of Let the children and the caregivers as part of their stories that may be disseminated locally and globally

    She also condemned child labor and other hazardous work practices being performed by children in several parts of the country.

  • Survivor narrates ordeals as two die in Anambra collapsed building

    Survivor narrates ordeals as two die in Anambra collapsed building

    Two persons died while two others narrowly escaped as three a storey building collapsed in Ibolo, Oraifite, Ekwusigo Local Government Area of Anambra State

    The building, which is at the roofing stage collapsed, at the weekend while the deceased, all carpenters, were dismantling the parapet boards.

    Narrating his lucky escape to The Nation, a survivor, Mr. Ositadinma Chukwuleta, stated he jumped from the building as soon as he noticed a crack in the structure’s foundation.

    He said: “While loosing the woods used to cast the parapet, I noticed the building cracking from the foundation and I jumped down immediately escaping the collapse.

    “The other two working inside the building were, however not so lucky.”

    The visibly shocked Chukwuleta, who could not hold his emotions, ,said he had since been abandoned after the incident, saying his condition could have deteriorated if not for sympathizers who had been assisting to stabilise him with drugs and support.

    A member of the Nigeria Red Cross Society, Mr. Vincent Okonkwo said the remains of the deceased had been deposited at the morgue after being evacuated from the debris.

    Reacting, Commissioner for Environment, Engineer Felix Odumegwu who visited the scene shortly, described the incident as unfortunate.

    He assured that government would get to the root cause of the collapse, while appropriate sanctions would be meted out to culprits.

    Read also: Crippling collapse cases

    He advised developers to always get approvals from appropriate authorities as well as engage services of professionals before embarking on any construction.

    A team from Council For Regulation Of Engineering In Nigeria (COREN), led by its state Chairman, Engr. Victor Meju confirmed the building did not comply with building codes and guidelines while no Engineer was found on site.

    It assured that proper investigation would be initiated and culprits, including those who claim to be engineers that handled the project would be brought to book.

  • Entrepreneur, investor conference hold Sept 28

    Entrepreneur, investor conference hold Sept 28

    The faith-driven entrepreneur and Investor conference is slated to hold on September 28 and 29 in Lagos.

    A statement by the host, Mrs. Oluremi Odunsi, CEO, Eridan Group and founder, Deepspace Africa, explained they will be a watch party at Eridan space, Oluwalogbon House, Plot A Obafemi Awolowo Way, Alausa, Ikeja.

    Explaining further, Odunsi said the conference is an annual gathering of Faith-driven entrepreneurs and investors streaming to 300 cities around the globe.

    The event, an initiative of faith-driven entrepreneur and Investor Ministries led by US based Henry Kaestner, who is a managing principal at Sovereign’s Capital.

    The statement added: “Sovereign’s Capital is a private equity and venture capital management company that invests in faith-driven entrepreneurs in Southeast Asia and the US from its offices in Silicon Valley, Washington DC, and Jakarta, Indonesia.

    Read Also: Dons, entrepreneurs, others urge govt on policies

    “Through the conference, kingdom-minded entrepreneurs and investors, will be privileged to learn from thought leaders, network and also pitch their business and ideas to potential investors.

    “For the last few years, we streamed the conference from Dallas. This year, we will be streaming the conference from Nairobi, Kenya.

    You don’t have to go through the hassle of travelling to Kenya before you can join the conference. There is an opportunity to join a Watch Party from Lagos, Nigeria for free however, registration is required.”

  • NDLEA arrests 75-year-old grandfather, 21 others in seven States

    NDLEA arrests 75-year-old grandfather, 21 others in seven States

    The National Drug Law Enforcement Agency (NDLEA) has arrested a 75-year-old grandfather, Usman Bokina Bajama, and 21 other suspects in operations across seven States during which 1,001,387 bottles/capsules of banned new psychoactive substance, Akuskura and Tramadol were seized.

    NDLEA spokesman, Femi Babafemi, in a statement in Abuja on Sunday, said 2,536 kilograms of cannabis were seized from them and over 10 hectares of cannabis farms destroyed in Edo and Adamawa.

    According to the statement, the septuagenarian, alias Clemen, was arrested in the early hours of Tuesday 20th September at Anguwan Sate, Mararraban Tola, Mayo Belwa council area of Adamawa where he had a cannabis plantation from where 49kg of the illicit substance was recovered.

    The statement reads: “In Kwara, at least 19,878 bottles of the banned new psychoactive substance, Akuskura were intercepted by NDLEA operatives along Ilorin-Jebba highway on Wednesday 21st September and two suspects: Oladokun Oluwaseun, 49, and Ibrahim Jimoh,27, arrested. They claimed the consignment packed in 35 jumbo sacks was loaded in Ibadan, Oyo state, and meant for distribution in Jos, Plateau state. Earlier, two suspects: Ukoro Ifeanyi, 46, and Idowu Toyosi, 20, were arrested with 2,290 capsules of tramadol and 100 bottles of codeine-based syrup at Mararaba park, Ilorin. The drugs were brought in from Onitsha, Anambra state.

    “In Lagos, NDLEA operatives acting on credible intelligence intercepted a Volvo truck loaded with

    2,146 kilograms of cannabis at Sangotedo area of Ajah and three suspects: Abdulazeez Rasheed; Afeez Raheem and Moshood Suleiman arrested. At least, 979,119 capsules of expired pregabalin weighing 733kg were recovered from Musbahu Ya’u, 28, and five others at Dansarai area of Kano, while in Enugu, 197.8kg cannabis was recovered in a store at new market, Enugu on Tuesday 20th Sept. In the same vein, 117.7kg of the psychoactive substance was intercepted along Okene-Abuja expressway in a truck coming from Lagos to Abuja.

    “In Edo state, six cannabis farmers were arrested when NDLEA operatives stormed their farms at Chigbite, Utese forest in Ovia North East LGA and Ekudo forest, Uhunmonde LGA, where over 10 hectares of cannabis plantation were destroyed and more than 193kg of the processed illicit substance seized. Those arrested include: David Hanson; Ufuoma Progress; Marvelous Armstrong; Marvelous Efe; Joshua Abubakar and Elijah Abubakar.

    Read Also: Marwa rewriting history in NDLEA

    “Meanwhile, anti-narcotic officers at the Murtala Muhammed International Airport, MMIA, Ikeja Lagos have arrested two freight agents over attempts to smuggle 26.20kg cannabis concealed in cereal packs through the SAHCO shed for export to Dubai, UAE. The consignment was abandoned at the shed before the airport security transferred it to NDLEA.

    “Further investigation by the Agency led to the arrest of Olatunbosun Damilola Abimbola, 34, who works at Ashadox Logistics Services, a cargo company on Friday 23rd Sept. He confessed to the crime but stated that he acted on the instructions of his Managing Director, Oloyede Shakiru Abiola, who was promptly arrested. The 40-year-old indigene of Ibadan West Local Government Area of Oyo State stated that due to the strict security measures put in place by the NDLEA, he was forced to abandon the cargo to avoid being detected.

    “Chairman/Chief Executive of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) commended the officers and men of Adamawa, Kwara, Lagos, Kano, Enugu, Kogi, Edo and MMIA Commands for their resilience, while charging them and others across the country to remain vigilant and committed to the collective goal of saving Nigeria from the drug scourge.”

    END

  • May Edochie: our jointly built mansion was peaceful until…

    May Edochie: our jointly built mansion was peaceful until…

    May Yul Edochie, wife of popular actor, Yul Edochie, has stated she is not part of her husband’s decision to embrace polygamy.

    In July, May, opened up about how she survived the devastating news of her husband’s marriage to a second wife.

    May, who has four children with the actor, said what she went through over the development was something she didn’t wish for her worst enemies.

    She said the love and support from family members and fans has kept her going.

    Addressing the matter in a recent post, the brand influencer though noted polygamy was a choice for all the parties that would be involved but insisted no one must be cajoled into accepting it.

    She vehemently refused to be a part of the practice in anyway, stating her unacceptance of the number (first) now being attached to her status as a wife.

    In the lengthy post via her Instagram page, May also revealed they were much happy and peaceful in their jointly built mansion until her hubby decided to venture into polygamy.

    She wrote: “The ability to accept or tolerate challenges and problems in life is a virtue, and should not be misconstrued. There is no point making an already bad situation worse, hence the need to remain calm is crucial.

    “I understand that we all have our weaknesses and limitations as humans, and I personally believe everyone deserves an opportunity to make things right when they stray… Forgiveness is devine.”

    Speaking of polygamy, the mother of four continued: “Beyond all the unnecessary facades, Polygamy is a life choice and no one should be compelled to accept it. It is something I think all parties involved should embrace willingly, and it’s okay for anyone who chooses it. Some religions, traditions allow polygamy and I have nothing against it. However, I am ABSOLUTELY certain that I will not be NUMBERED as a wife or be cajoled to accept a practice that does not align with my faith and family values.

    “God blessed me with a happy, peaceful, and lovely family in a beautiful and JOINTLY built “mansion that started from little or nothing..humble beginnings. What more could I have been asking for? had a stable and loving home prior to the unprecedented events regarding my marriage.

    Read Also:  I can’t leave my mansion for another woman – May Yul

     

    Wrapping up her post, May added: “Life is made up of an infinite amount of choices. Most decisions might be tough to make, but whenever we confront our options with courage and confidence, we should equally be open to the paths of our own design. I believe that we are solely responsible for our choices, and we have to accept the consequences of every deed, word, and thought that comes with it in our lifetime.

    “We should understand that taking life changing decisions hastily is not the best. God in His infinite mercy fixes things in His own time, He will definitely answer all our prayers.

    “Thank you all for your continuous prayers, love and support. May God bless you abundantly.”

  • Our protest over ASUU strike will be worse than #ENDSARS-NANS

    Our protest over ASUU strike will be worse than #ENDSARS-NANS

    The National Association of Nigerian Students (NANS) has threatened to stage a massive protest in the South south that will be worse than #EndSARS if the strike by the Academic Staff Union of Universities (ASUU) lingers.

    NANS said it will make good its threat to cripple the economy if the Federal Government fails to return lecturers to the classrooms.

    Read Also: Strike: NANS rejects court order, backs ASUU

    Addressing a briefing in Uyo over the weekend, the South-South Coordinator, NANS ZONE B, Comrade Kings Tamarapreye, said the association will stop at nothing till students return to their various schools.

    Tamarapreye, who threatened that the next lines of actions by the students may be ‘worse than the EndSARS protest, vowed the entire country will be shut down.

    “As the leadership of NANS ZONE B, we wish to restate our total commitment towards the return of Nigerian students to the various campuses.

    “We give a vote of confidence to comrade Usman Barambu-led administration for a job Well.done in bridging the gap between the federal government and the academic staff Union of Universities (ASUU).

    “We reaffirm our total stand by calling the ASUU body to honour the court order of reopening the institutions as we equally call on the federal government to as a matter of urgency subscribe to the demands of ASUU.

    “It is on record that in this particular Zone (NANS Zone B, South-South), we have led several forms of protest to see how we can return students to school because the main that we were elected leaders is to prioritize the welfare of the students.

    “It is a sad thing that for eight months now, Nigerian students are still at home. It is on record that we have blocked the roads of Akwa Ibom and the Cross River States in solidarity.

    “There was a memo for the mobilization of the nation shut down and it is still on course. As were are appealing to ASUU to listen to the court order and return to school, if they fail, we will mobile and shut down the whole country because the federal government has been so nonchalant to education in this country.

    “We all know that education in this country is underfunded and we will not fold our arms, it is time we take our destinies into our hands. In this South-South region, we are going to block the Port Harcourt International airport, block Calabar-Itu highway as well as other infrastructures,” he stated.

  • Jonathan hails Emmanuel, past leaders for developing Akwa Ibom

    Jonathan hails Emmanuel, past leaders for developing Akwa Ibom

    Former President Goodluck Jonathan has hailed Governor Udom Emmanuel and past leaders for the massive and rapid development in Akwa Ibom state within 30 years.

    Jonathan made the commendation at the weekend as special guest of honour during the State Banquet organised by the State Government as part of activities marking the 35th anniversary

    He acknowledged that there were visible improvement in the areas of physical infrastructure and other basic amenities across the 31 local government areas of the state within the period of thirty five years.

    “I will say that Akwa Ibom State, which was carved out of the old Cross River State is one of the states that has met the expectations of her people in fulfilling the reasons for her creation.

    “If you have been coming to Akwa Ibom within these period of thirty five years, you would agree that people from the state would always thank God for the creation of this state.

    “Governor Emmanuel has done very well, therefore the youths can no longer afford to be laid back, and in this election season, I charge the young ones to be vigilant to ensure that their choices are not thwarted,” he said.

    He called on politicians to shun violence and division and team up with the Governor to ensure that the State continues to remain a centre of positive reference.

    Emmanuel said that his administration has connected with the people at the grassroots through provision of healthcare facilities and other life- touching projects.

    Read Also: Jonathan hails Emmanuel, past leaders for developing Akwa Ibom

    He used the occasion to appreciate former Military President General Ibrahim Babaginda (retd)whom he said yielded to the aspirations of the founding fathers by creating Akwa Ibom State in September 23rd, 1987.

    While reeling out his scorecards, the Governor said his administration would continue to work for the benefit of the people despite the global economic and financial challenges, stating he was not given to excuses but results.

    Other dignitaries who attended the event include: Former First Lady Dame Patience Jonathan; Bayelsa Governor Douye Diri; former Gombe Governor Dr. Ibrahim Dankwambo; former Benue Governor Senator Gabriel Suswam; former Military Governors of Akwa Ibom State as well as the Deputy Governor Moses Ekpo, who proposed the anniversary toast.

  • Yul, second wife dated for six years, Uche Ogbodo alleges

    Yul, second wife dated for six years, Uche Ogbodo alleges

    Actress Uche Ogbodo has alleged her colleague Yul Edochie and his second wife Judy dated for six years before the relationship became public knowledge.

    She alleged that most of the colleagues knew about the relationship between the duo.

    According to her, it is hypocritical that her colleagues suddenly took sides after affair became general public, which she said she is not comfortable with.

    Read Also: I can’t leave my mansion for another woman – May Yul

    In an instagram post she said: “On a second Tot. I reckon i had to come back to this. First off, I’m not a hypocrite but a one- man soldier who stands for the truth regardless of anyone’s pain or displeasure.

    “Y’all true chameleons are those Nollywood people., who knew that this relationship has bee ongoing for the past 6 years but never mentioned it to May until it was too late, now they’re taking sides. Me! I am true to myself so I will remain so! In as much as I sympathise with May on her pain, I will not inherit enemies.

    “Everyone created by God is human, I have no power to judge anyone, I will continue to be friends with the parties involved till they find a peaceful ground. F****k y’all haters. God bless the Edochies.”

  • PDP members in Makinde’s council join APC

    PDP members in Makinde’s council join APC

    Over 2,000 members of the ruling People’s Democratic Party (PDP) and Social Democratic Party (SDP) in Ona-Ara Local government of Oyo State over the weekend defected to All Progressives Congress (APC).

    Mogaji Victor Akinjide led the defected PDP members while Elder Kalejaye led the defected SDP members during the APC meeting at Elekuro High School, Ogbere in Ona-Ara Local Government.

    Governor Seyi Makinde hails from Ajia in Ona-Ara Local government area..

    Other APC leaders at the meeting were Pa Akintayo, Hon. Kolawole Waliyu (Ikoko), Alhaji Kehinde Olaosebikan, Hon. Hammed Bodunrin Digbi, Hon. Remi Sodiq, Hon. Waheed Ajibade, Hon. Mojeed Delesolu, and Alhaji Amidu Olapade among others.

    Oyo APC governorship candidate Senator Teslim Folarin and Oyo Central Senatorial candidate, Dr. Yunus Akintunde received the new members into APC.

    Speaking on behalf of the defectors, Akinjide said they were pleased with the way they were received by Senator Folarin.

    Read Also; Nasarawa 2023: APC, PDP battle over Sule’s second term

    Kalejaye stated that performance of Senator Folarin and his emergence as governorship candidate informed their defection, saying the victory of APC in 2023 would not only benefit Ona-Ara LGA but the entire state.

    Welcoming the defectors on behalf of Folarin, the Chairman, National Lottery Regulatory Commission, Alhaji Fatai Ibikunle assured them of fairness and equity in the new party.

    “I welcome you to our great party, APC as new members, and assure you of all rights accrued to the rest of our members.

    “We will ensure that you benefit from every opportunity regarding the welfare of members without sentiments,” he said.

    He charged the new members to aggressively mobilise for 2023 electoral victories of all APC candidates.

    Folarin commended the defectors, saying they had made the right decision by joining APC.

    He promised to carry them along in all party affairs and ensure that they benefit from all available opportunities.

    He urged them to go to their respective wards and attend party meetings regularly for updates and other things concerning the party.