The Nation Newspaper

Tag: Bankers

  • Bankers Committee moves against naira hawkers

    Bankers Committee moves against naira hawkers

    The Bankers’ Committee met in Lagos yesterday and decided that hawking of the naira will no longer be acceptable.

    Managing Director, Enterprise Bank Limited, Mrs. Mary Akpobome, who spoke on behalf of the Committee members, said it has been discovered that the naira is hawked by some merchants on the streets across the country, saying the practice has to stop.

    She said such practice, which is not permissible in advanced countries like the United States of America and United Kingdom, should not be encouraged in Nigeria.

    “We appeal to the people involved in this act to desist from buying and selling the naira on the streets or face the consequences of their actions,” she said.

    Akpobome said the Committee notified various agencies to go after the perpetrators, adding that both the buyer and seller of the currency will face the wrath of the law.

    Kola Balogun, who represented the Central Bank of Nigeria (CBN) Director, Banking Supervision, said the ongoing publication of the debtors’ list is to ensure that the financial sector is stable. He said the CBN will follow up on the prescribed sanction for the delinquent debtors, including ban from accessing the forex market, adding that the publication of bad debtors’ names on national dallies will continue on regular basis.

    He expressed surprise that a bank can publish the name of a non-existent borrower in the media, adding that where such is the case, the bank and customer should resolve it amicably. “Some delinquent debtors have been named. The banks followed their loan books and I will be surprised if a bank publishes non-existent debtor as owing,” he said.

    Managing Director, GTBank, Segun Agbaje, said nothing has changed in the operation of domiciliary accounts in the country, except that foreign currency deposits are no longer acceptable into the accounts.

    He said: “Interested persons will continue to pay school fees or medical bills through the official forex window. I want to assure you that legitimate transactions will pass through the official window. The forex is available in the banks people with legitimate demands should follow the right procedure and get it”.

    On the cash-less policy, Managing Director, Wema Bank Plc, Segun Oloketuyi, said only five states and Abuja are implementing the policy. The states are Lagos, Ogun, Kano, Rivers and Anambra. He said the Bankers’ Committee is working on getting the policy rolled out nationally and called on banks to embrace the policy nationally.

  • Bank chief urges bankers on integrity

    Chartered Institute of Bankers of Nigeria (CIBN) president, Mrs. ‘Debola Osibogun has advised bankers on the need to embrace integrity and best practices in the course of their duties.

    Speaking at the CIBN Graduates Induction and Prize Awards Day held in Lagos, she said bankers would always abide by the CIBN code that condemns gratification and bribery among other unwholesome practices in banking. “I wish to remind you of some of the things contained in the Code of Conduct in the Nigerian Banking Industry recently approved by the Bankers Committee.

    You must endeavour to avoid these if only to ensure that you become the heroes and heroines of your chosen profession.  You must avoid engaging in any ventures of which there are clear issues of conflict of interest; abusing the trust reposed in you or your office; misusing official information in the course of your professional career; offering and or accepting gratification or bribe,” she said.

    Osibogun said the induction remains a symbolic reminder of the core mandate of the Institute which is to admit student members who have passed the prescribed examinations and fulfilled all other conditions set by the Governing Council into Associateship (ACIB); admit students into the Associateship of the Institute among others.

    She said this year’s induction sees a record high number of 993 student members who have all successfully completed the qualifying examinations of the Institute. “This number is the highest in the history of the Institute and it comprises of the following; 162 for Associateship, nine for Chartered MBA, four for Treasurers’ Dealership Certificate, 795 for Micro-finance Certification Programme, and, 23 for Certificate in Banking,” she said.

    She congratulated the bankers describing the achievement in completing an extremely demanding, rigorous and tough professional programmes. “Not only is today, a deserved testament to your hard work, your discipline and your commitment, it also represents a major milestone in your lives. It is equally a time for celebration as you mark both the end and beginning of exciting parts of your lives and an occasion on which to look forward to the opportunities available to you as Chartered Bankers, Certified Treasury Dealers and Microfinance Certified Bankers.

    I wish you all the best as you start the next adventure of your lives and hope that this accomplishment opens many doors of opportunity and helps you to realize your personal and professional ambitions,: she said.

    “In today’s dynamic business environment achieving such professional qualifications, demonstrate commitment to professionalism which is an important differentiator in the competitive market place. As bankers there are so much you can do to bring fresh lease of life to the banking & finance sector and businesses in both the private and public sectors. This implies that the economic potential of our country is not limited by your visions and the dreams of the future. I therefore urge you to always “shoot for the moon, even if you miss it you will land among the stars,” she added.

     

  • Bank chief urges bankers on integrity

    Chartered Institute of Bankers of Nigeria (CIBN) president, Mrs. ‘Debola Osibogun has advised bankers on the need to embrace integrity and best practices in the course of their duties.

    Speaking at the CIBN Graduates Induction and Prize Awards Day held in Lagos, she said bankers would always abide by the CIBN code that condemns gratification and bribery among other unwholesome practices in banking. “I wish to remind you of some of the things contained in the Code of Conduct in the Nigerian Banking Industry recently approved by the Bankers Committee.

    You must endeavour to avoid these if only to ensure that you become the heroes and heroines of your chosen profession.  You must avoid engaging in any ventures of which there are clear issues of conflict of interest; abusing the trust reposed in you or your office; misusing official information in the course of your professional career; offering and or accepting gratification or bribe,” she said.

    Osibogun said the induction remains a symbolic reminder of the core mandate of the Institute which is to admit student members who have passed the prescribed examinations and fulfilled all other conditions set by the Governing Council into Associateship (ACIB); admit students into the Associateship of the Institute among others.

    She said this year’s induction sees a record high number of 993 student members who have all successfully completed the qualifying examinations of the Institute. “This number is the highest in the history of the Institute and it comprises of the following; 162 for Associateship, nine for Chartered MBA, four for Treasurers’ Dealership Certificate, 795 for Micro-finance Certification Programme, and, 23 for Certificate in Banking,” she said.

    She congratulated the bankers describing the achievement in completing an extremely demanding, rigorous and tough professional programmes. “Not only is today, a deserved testament to your hard work, your discipline and your commitment, it also represents a major milestone in your lives. It is equally a time for celebration as you mark both the end and beginning of exciting parts of your lives and an occasion on which to look forward to the opportunities available to you as Chartered Bankers, Certified Treasury Dealers and Microfinance Certified Bankers.

    I wish you all the best as you start the next adventure of your lives and hope that this accomplishment opens many doors of opportunity and helps you to realize your personal and professional ambitions,: she said.

    “In today’s dynamic business environment achieving such professional qualifications, demonstrate commitment to professionalism which is an important differentiator in the competitive market place. As bankers there are so much you can do to bring fresh lease of life to the banking & finance sector and businesses in both the private and public sectors. This implies that the economic potential of our country is not limited by your visions and the dreams of the future. I therefore urge you to always “shoot for the moon, even if you miss it you will land among the stars,” she added.

     

  • Our Girls; Politicians, bankers: No corruption difference? Fight ‘Illegally legal’ NASS salaries for life

    Our Girls; Politicians, bankers: No corruption difference? Fight ‘Illegally legal’ NASS salaries for life

    Our girls and many of our people have been missing on, before and since April 14, 2014. Many others, over 10,000, lie dead in mostly unmarked graves and there are the perhaps millions displaced or injured. The recent King of Saudi Arabia was also buried in an unmarked grave even though he had almost $20 billion, not as rich as Dangote whose name appears in the Swiss branch of HSBC discussions about international tax evasion and undisclosed secret bank accounts confirming international bankers’ fraud. In the 60s, the magazine West Africa advertised Swiss Accounts. Corruption has been around forever.

    The civil service, political and economic banking class all stink of manipulative corruption igniting the historic anti-corruption stance of the Buhari campaign facing the reactionary ‘who-is-who’ in ‘Who is afraid of Buhari?’ on the other side. Millions of Nigerians are frustratingly sick of the personal and public service cost of corruption consuming as much as 50% of budgets of most LGAs, states, federal government organisations.  This cost of corruption is murderous and is an election issue and an affront to national pride. Corruption thought is seen in the high political wages; bankers’ corruption is seen in high bank rates and destructive naira value. Political corruption includes a weak security strategy, near-perpetual darkness, potholes filling our roads, poor education and health delivery systems, high graft in government functions and services, cost of doing business, the greedy open hands of all uniformed organisations, poor return on the contract naira, the education exodus to Ghana, the growing Diaspora population and even worse – the corrupt funding of political parties by government/ contractor corruption.

    African leaders could have directed the Africa Union to declare ‘2015-2025 -The Solar 10 Years’ and negotiated the cutting edge solarisation of Africa as an ‘African-Anti-Poverty, Job Creation’ strategy against the invasion of fortress Europe and as a priority of development from village to Presidential Villa. Of course very few African countries have the criminally low power supply that Giant of Africa, Nigeria, has. The Nigerian citizen has been punished by politics for ever. All our powerlessness, suffering, falling naira, high interest rates are all caused by a lack of true leadership. It seems the leaders have got well ahead of the followers in ‘benefits’. In Nigeria we have a ’Politicians’ Paradise’  Vs a ‘Citizens Cesspool’ of preventable suffering from which we foolishly smile and applaud when we get chairs in a classroom or a few potholes filled or  a 31% pass in WAEC or ‘only 20 deaths from Ebola’ or a 50kmph slow-train while they get a new presidential plane.

    People wake up!! Do not applaud at the dregs given you while they steal us blind. Nigeria was never supposed by God to be so bad.  God gave us oil, geological minerals, millions of hard working people, 12 hours daylight a day, a good climate filled with solar energy, a naira valued at $1.2:1Naira in 1970. Where have they gone?

    Last week the National Assembly, NASS approved for themselves new salaries-for-life for certain national officers within the NASS. This is after receiving huge unknown Salaries and Perks, while in office which are SAPping our budget dry. All this in a country where politicians are regrettably the highest paid in the world while they cannot pay others their salaries and pensions. All this in a country whose currency has plummeted from N150 to 200+ or 25% and whose oil revenues have fallen by 50% through falling oil prices and reduced demand.  Is this ‘Salaries for life’ law a copycat law from the USA, EU or UK? Is there not a body which fixes Salaries and Perks for political office holders? This body perhaps called the Revenue Mobilisation and Fiscal something has failed yet again to curb the politicians who are drinking greedily from the near-empty well of Nigeria’s budget. But these politicians are already stupendously wealthy at the nation’s expense. How greedy can a man get? How many golf courses, private jets or mansions in different continents does a man need while fellow Nigerians are protesting seeking unpaid salaries and stolen pensions and food for children? This law giving life salaries and perks to even one NASS member is an insult to our sensibilities, morally reprehensible and though NASS may make it legal, it is an illegality and must be challenged in the courts as ‘ILLEGALLY LEGAL’. Today officers, tomorrow everyone in NASS. This must be challenged in court and some political parties must take this as a key policy strategy like the excessively high political salaries and the need to cut the NASS and state and LGA from ‘full time’ to ‘Part-Time with Sitting Allowances’. The politician appears as a blood-sucking leech on Nigeria’s budget. This political class must be stopped before there is nothing left.  Nigeria has had seven+ years of plenty stolen and faces politically induced seven years of resultant famine.  We need a change.

    Apologies for a missing sentence on Feb 18. The full paragraph was: Nigeria’s builders must visit The Pan Atlantic University Lekki, Lagos has a fantastic eco-friendly building, Enterprise Development Centre, powered by solar energy. All Nigeria’s buildings must be eco-friendly buildings. Of course Africa’s traditional mud and grass buildings were eco-friendly. There is a new National Solar Policy suggesting that all new houses under the new Nigerian Housing Policy and all new government and corporate buildings must include renewable energy, solar. These are huge policy steps

     

  • 10 bankers declared wanted for alleged N125m fraud

    The Police yesterday declared wanted 10 bankers over an alleged N125.1 million fraud scam.

    According to the News Agency of Nigeria (NAN), the names and photographs of the suspects have been pasted on the notice board of the zone 2 Police Command in Onikan, Lagos.

    The command’s spokesman, Chief Superintendent of Police (CSP) Gbenga Adeoye, told NAN in Lagos, that it was normal for the police to declare wanted anybody suspected of crime.

    “It is normal for the police to declare wanted anybody who refused to make himself available after committing crimes such as fraud, jump bail or murder.

    “When we declare anybody wanted, the photograph, names and contact address of the suspected fellow will be pasted in the police formation for easy identification of his or her arrest,” Adeoye said.

    The suspects who are at large, were being investigated over alleged forgery and obtaining money by false pretence, he said.

    A warrant of arrest has been duly obtained from a Magistrate’s Court in Lagos State against the suspected fraudsters.

    NAN gathered that the suspects conspired with others to obtain financial facilities of N15, 055, 541; N10, 894, 478 and N24, 597, 628.

    Other amounts are N9,983,195; N11,114,992; N12,231,958; N8,663,833; N10,827,561; N5,657,937 and N15,054,383, respectively, from a Bank.

    The suspects are between the ages of 34 and 48.

  • ‘Bankers need integrity, best practices’

    ‘Bankers need integrity, best practices’

    President, Chartered Institute of Bankers of Nigeria (CIBN) Mrs. ‘Debola Osibogun has advised bankers on the need to embrace integrity and best practices in the course of their duties.

    Speaking at the CIBN Graduates Induction and Prize Awards Day held in Lagos, she said bankers would always abide by the CIBN code that condemns gratification and bribery among other unwholesome practices in banking.  “I wish to remind you of some of the things contained in the Code of Conduct in the Nigerian Banking Industry recently approved by the Bankers Committee.

    You must endeavour to avoid these if only to ensure that you become the heroes and heroines of your chosen profession.  You must avoid engaging in any ventures of which there are clear issues of conflict of interest; abusing the trust reposed in you or your office; misusing official information in the course of your professional career; offering and or accepting gratification or bribe,” she said.

    Osibogun said the induction remains a symbolic reminder of the core mandate of the Institute which is to admit student members who have passed the prescribed examinations and fulfilled all other conditions set by the Governing Council into Associateship (ACIB); admit students into the Associateship of the Institute among others.

    She said this year’s induction sees a record high number of 993 student members who have all successfully completed the qualifying examinations of the Institute. “This number is the highest in the history of the Institute and it comprises of the following; 162 for Associateship, nine for Chartered MBA, four for Treasurers’ Dealership Certificate, 795 for Micro-finance Certification Programme, and, 23 for Certificate in Banking,” she said.

  • Institute challenges bankers on integrity, best practices

    President, Chartered Institute of Bankers of Nigeria (CIBN), Mrs. ‘Debola Osibogun, has advised bankers to embrace best practices in the discharge of their duties.

    Speaking at the institute’s Graduates’ Induction and Prize Awards in Lagos, she urged bankers to comply with the CIBN code that condemns gratification and bribery.

    “I wish to remind you of some of the things contained in the Code of Conduct in the Nigerian Banking Industry recently approved by the Bankers Committee.

    “You must endeavour to avoid these if only to ensure that you become the heroes and heroines of your chosen profession.  You must avoid engaging in any ventures of which there are clear issues of conflict of interest; abusing the trust reposed in you or your office; misusing official information in the course of your professional career; offering and or accepting gratification or bribe,” she said.

    Mrs Osibogun described the induction as a symbolic reminder of the Institute’s  core mandate which is to admit student-members who have passed the prescribed examinations and fulfilled other conditions set by the Governing Council into Associateship (ACIB); admit students into the Associateship of the institute, among others.

    This year’s induction, she said, was a record given the large number of 993 student members who passed the qualifying examinations. “This number is the highest in the history of the Institute and it comprises of the following; 162 for Associateship, nine for Chartered MBA, four for Treasurers’ Dealership Certificate, 795 for Micro-finance Certification Programme, and, 23 for Certificate in Banking,” she said.

    She congratulated the bankers on completing the professional programmes saying, “Not only is today, a deserved testament to your hard work, your discipline and your commitment, it also represents a major milestone in your lives. It is equally a time for celebration as you mark both the end and beginning of exciting parts of your lives and an occasion on which to look forward to the opportunities available to you as Chartered Bankers, Certified Treasury Dealers and Microfinance Certified Bankers.

    “I wish you all the best as you start the next adventure of your lives and hope that this accomplishment opens many doors of opportunity and helps you to realise your personal and professional ambitions, she said.

    “In today’s dynamic business environment achieving such professional qualifications, demonstrate commitment to professionalism which is an important differentiator in the competitive market place. As bankers there are so much you can do to bring fresh lease of life to the banking & finance sector and businesses in both the private and public sectors. This implies that the economic potential of our country is not limited by your visions and the dreams of the future. I therefore urge you to always “shoot for the moon, even if you miss it you will land among the stars.”

  • Alleged robbery: Seven bankers, six policemen held

    Four cashiers, three security guards and six policemen have been held in connection with Wednesday’s robbery at the Okokomaiko, Alaba, Lagos branch of the Fidelity Bank.

    The suspects were arrested following investigations by the Special Anti-Robbery Squad (SARS) led by Abba Kyarri, a Superintendent of Police (SP).

    The robbery occurred barely a month after a similar attack on the bank, in which a riot police officer was killed. The robbers made away with N24 million.

    Last Wednesday, robbers stormed the bank and blocked two bullion vans as they drove into its premises.

    The robbers were allegedly armed with AK47 rifles and magazines wrapped round their bodies.

    The bullion vans were escorted by seven policemen from the heavily armed Bar Beach Police Station on Victoria Island, with two spy policemen and others.

    The robbers overwhelmed the police escorts, killing two of the spy policemen.

    Eyewitnesses said one died on the spot; the other on the way to the hospital. A police corporal, who was also shot, is critically ill in hospital.

    The robbers broke open the first bullion, carting away all the money in it. They riddled the other van with bullets in their attempt to force it open.

    When they did not succeed, they disappeared with the loot from the first van.

    A police source said: “One of the spy policemen who died was a driver, while the second used to load money into bullion vans. Six policemen have been detained and four cashiers of Fidelity Bank.”

    Another source said: “The matter is now with SARS. It is believed that there is an insiders’ connection. I heard that investigation has started immediately. The Commissioner of Police, Umar Manko is suspecting a foul play, considering that the bank had only recently been robbed in the same manner. He asked why it was always Fidelity Bank.”

    Police spokesperson, Ngozi Braide confirmed the incident, saying: “The incident did not occur at Fidelity Bank, but at the bank’s box office, where the bank officials used to box money before moving it out. Only one spy policeman was killed. The robbers would have been caught, but because it was in the market, our policemen did not want to shoot. The bullet could hit innocent people. The car attacked was the bank’s bullion van and it came to pick boxed money. The money taken away was about N24 million.”

  • Bankers discuss at CIBN forum

    Bankers discuss at CIBN forum

    The Chartered Institute of Bankers of Nigeria, will assemble top bankers and other selected stakeholders to articulate effective strategies to ensuring the entrenchment of global best practices in the industry.The gathering, which is the Presidential Address of the Institute with the theme: “Banking & Bankers: Looking Back, Looking Ahead” is scheduled to hold on Friday in Lagos and will be addressed by President/Chairman of Council, Segun Aina.The objective of the event, a statement from the bank said, is to reduce incidents of fraud, forgeries, management error and unprofessional practices while enhancing competency among practitioners in the industry. Dr. Aina will use the platform of the epoch event to present to the banking community, an ocasional paper titled: “The Economy of Financial Inclusion in Nigeria: Theory, Practice and Policy”, which he co-authored with Dr. Onafowokan, Oluyombo, Department of Financial Studies, Redeemer’s University.

  • Day Nigerian pop singer schooled bankers

    Day Nigerian pop singer schooled bankers

    The growing trend in the entertainment industry is an attraction to investors, given the reason the Federal Government has put up series of intervention funds to help the industry to grow. And despite the absence of structures necessary for auditable businesses, the success of some Nigerian artistes remains a case study for staff of Nigeria’s apex bank; the Central Bank of Nigeria (CBN).

    Peter Okoye, one-half of twin singers, P-Square, tells his story, during a lecture organised for a set of new recruits at a CBN seminar, last week. Reports say Okoye, was invited to motivate the new employees, while sharing his success story as a pop star.

    The twin artistes, who combine energetic choreography with sonorous rhythm, are known to be the most popular Nigerian singers in Africa. Having spent over a decade in the Nigerian music industry, with their ability to create and manage wealth for the period, the group won the heart of the bank as an entrepreneurial model.

    A statement from the bank records that P-Square’s feat is rare, especially in an era where most musicians are known to fall off, as fast as they rise to the top.

    Along with his twin brother, Peter Okoye has released five chart-topping albums, won multiple awards, sold out concerts, gained international recognition and become a household name within and outside Nigeria.