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Tag: challenges

  • Banks’ many challenges

    For some banks, these are not the best of times. Their earnings released in the third quarter, which ended in September, are being affected by changes in the Central Bank of Nigeria’s (CBN) policies. COLLINS NWEZE writes that the coming years may be tough for banks as the policies take root in the financial system

     

    •CBN’s policies take toll on lenders’ operations

    Banks have been under pressure in the last few months following some policy changes at the Central Bank of Nigeria (CBN). The aim of the CBN Governor, Sanusi Lamido Sanusi, is to keep the naira stable, check fraudulent use of foreign exchange (forex), reduce cost of banking operations and shift banks’ interest from public sector deposits to private sector funds.

    The policies, include a raise in Cash Reserve Ratio (CRR) for public sector deposits to 50 per cent, increase in Asset Management Corporation of Nigeria (AMCON) fees from 0.3 to 0.5 per cent, suspension of the Wholesale Dutch Auction System (WDAS) and its subsequent replacement with Retail Dutch Auction System (RDAS).

    The CBN also reduced banks’ Net-Open Position Limit (NOPL) to one per cent, and a 48-hour limit on the use of forex purchased from the RDAS. By December 2016, CBN said it would stop being the “lender of last resort” for the Real-Time Gross Settlement System in the banking industry.

     

    CRR hike

    The CRR is the minimum cash, as a percentage of customer deposits and notes that each commercial bank must set aside in CBN reserve. This cash cannot be used for other purposes or lent out. The CBN took this step to protect depositors, and ensure banks have sufficient cash at all times to meet the day-to-day demands and cash withdrawals of their depositors. The CRR is a powerful monetary tool often used by central banks all over the world to control money supply in the economy. This is where it gets murky.

    At an average CRR of 17 per cent, this means that Nigerian banks are setting aside more than twice the cash set aside by Kenyan banks for every one dollar of customer deposits. In addition, Nigerians are setting aside 10 times the cash set aside by its Kenyan counterparts for every one dollar of public sector deposits.

    Like bitter pills, these policies are being swallowed by the banks, albeit with silent grumblings, but not without serious implications on the earnings and cost of operations.

    Piqued by this development, Equities Analyst at Renaissance Capital (RenCap), Adesoji Solanke, asked: “Is the CBN now creating an increasingly difficult operating environment, under which some banks cannot hope to deliver returns in excess of their cost of capital?” The thinking in many circles is that banks are indeed facing a challenge in trying to deliver over 20 per cent returns, especially compared with its sub-Saharan African (SSA) peers.

    While some banks are able to face the hurdles created by these changes in regulation, so many especially smaller lenders have come under intense pressure.

    Solanke said the least vulnerable banks to the CRR hike are Stanbic IBTC and Guaranty Trust Bank (GTBank), with exposure to public sector funds at five per cent and eight per cent respectively. The remaining banks are in the 10 to 16 per cent range.

    He explained that CRR is at 12 per cent for customer deposits and 50 per cent for public sector deposits, resulting in a average CRR of 17 per cent while in Kenya, the CRR is at 5.25 per cent, slightly lower at five per cent in Rwanda and nine per cent in Ghana. Solanke said other challenges in the sector include a reduction in Commission on Turnover (CoT), an increase in the AMCON levy and the introduction of a minimum savings rate.

     

    Implications for banks

    Analysts said the lenders will, in the midst of these tough policies, be left with little choice but to pursue revenue growth by raising lending rates on their loan books. However, this is likely to come at the expense of either loan growth or asset quality. The larger, more liquid banks may prefer to accept lower loan growth, and instead increase their exposure to treasury assets as yields have risen slightly remaining attractive choice for investors.

    The fact remains that with these policies, high earnings growth is likely to be challenging to achieve. “We expect it will become harder for some of the banks to deliver returns in excess of their cost of equity, especially some of the smaller banks. Our preference in this environment is for big-balance-sheet players, with excess liquidity,” he said.

    For instance, fee income analysis showed that CoT fees were fairly significant contributors to non-interest revenue (NIR) in 2012, especially for the larger banks. In 2012, CoT contributed 40 per cent to NIR for Zenith and FirstBank and 12 per cent and 10 per cent to total income. The least affected of the lenders was Access Bank at 14 per cent of NIR and five per cent of total income. Of the Tier 2 banks, Diamond, First City Monument Bank (FCMB) and Skye were the most affected, while Stanbic IBTC and Fidelity were the least.

    However, bigger banks are better positioned to weather the headwinds, given larger balance sheets and better economies of scale. Many of the banks with illiquid AMCON bonds are also under serious revenue threat. “We believe this will remain a challenging year for Access given the nature of its balance sheet (large exposure to illiquid AMCON bonds). We think 2014 should be a year of stronger growth for Access, as most of the AMCON debt matures at the end of this year and will be redeemed for either cash or t-bills – giving Access the opportunity to earn better returns on its assets,” a RenCap report said.

     

    Third quarter performance

    Already, Access Bank’s unaudited financial report for third quarter obtained from the Nigerian Stock Exchange (NSE) also showed that the bank’s profit before tax fell by 10.26 per cent to N35 billion, compared to the N39 billion recorded in September last year.

    The bank’s operating income also declined by 7.96 per cent to N104 billion during the period under review, from N113 billion as at September last year.

    However, the operating income improved by four per cent from N34 billion in second quarter, to N35 billion in third quarter.

    The bank’s Group Managing Director, designate, Herbert Wigwe, admitted that the impact of on-going regulatory development has affected the overall operating environment in 2013. “Our medium term strategy puts us in a strong position to cope with these industry headwinds as evident in the improved operating performance in third quarter which I believe will provide the platform for achieving our goals in 2014 and beyond,” he said.

    Skye Bank Plc also declared a N102 billion gross earnings for the third quarter ended September 30. The figure represents an increase from N94 billion in the corresponding period of last year. “The strong core profitability muted the adverse impact of industry-wide cost headwinds on the net bottom-line of the bank. Various regulatory policies and tightened liquidity including the introduction of 50 per cent CRR on public sector deposits have generally put pressure on profitability margins of banks,” the bank said in a statement.

    The bank’s operating expenses-including regulatory costs and fees, increased from N 7.19 billion to N33.89 billion. This resulted to an increase in total operating expenses to N47.17 billion as against N34.24 billion recorded in comparable period last year.

    Group Managing Director/Chief Executive Officer, Mr. Kehinde Durosinmi-Etti, said the results have demonstrated the capacity of the lender to sustain continuous improvement in major performance indices. He said the moderate growth was commendable in the context of the several regulatory policies and tightened liquidity which has constrained profit margins across the industry.

    He noted that with the tightened regulatory policies, increased levies and general operating costs, the bank will continue to improve on its processes and cost reduction strategies while it continuously explores other ways of generating revenues and enhancing value for shareholders.

    “We will use more of our electronic platforms and distribution channels, while we invest more in technology to serve our customers better. Our customers will continue to experience secure and convenient service with our newly launched Customer Service Charter, which was pivoted on transparency, accessibility accountability and reliability,” Durosinmi-Etti,” said.

    However, Stanbic IBTC improved on their earnings amidst these regulatory hurdles.

    Stanbic IBTC Holding Co. reported nine-month profit increased 64 per cent. The bank’s net income climbed to N16.9 billion in the nine months through September, from N10.3 billion a year earlier. Non-interest income gained 70 per cent to N36.4 billion.

     

    Earnings dip

    All other things being equal, analysts expect net interest margins (NIMs) to suffer. Banks have said they are reducing deposit rates for public-sector deposits to try and offset the higher CRR. “We do not think this will be sufficient, and we note also that the introduction of a minimum savings rate on 1 April 2013 (set at 30 per cent of the Monetary Policy Rate (MPR) has increased pressures on the funding side. We cannot see how banks can hold on to their NIMs without raising lending rates.”

     

    Loan re-pricing

    Chief Financial Officer (CFO) Wema Bank Plc, Tunde Mabawonku, said many banks repriced their public sector deposits after the CRR policy became effective. He reiterated the bank’s commitment to ensuring that its public sector deposit does not exceed 10 per cent of its deposit liability.

    “After the Central Bank of Nigeria (CBN) policy on public sector funds became effective, we began re-pricing our public sector funds. It hurts us that we lost some funds, but it is better to remain profitable than to be big and unprofitable. We intend to keep our public sector deposits below 10 per cent of our total liability,” he said.

    Findings also showed that most management teams agreed to raise lending rates by 100 to 300 basis points after the CRR policy. Expectedly, high-end corporates are very resistant to any repricing of their existing loans. Mid-sized corporates, SMEs and consumers have limited choice, but they come with higher risk further down the line. Overall, 40 to 60 per cent of the repricing is expected to stick, hence making NIMs to come under pressure.

     

    AMCON levy

    The recent spike in Nigeria Interbank Offered Rate (NIBOR) was, to some extent, caused by uncertainty surrounding the collection of AMCON levies. The AMCON levy, called the sinking fund, is 0.5 per cent of banks’ total assets, which is in line with regulatory requirement setting up the corporation. The fee was increased from initial 0.3 per cent to 0.5 per cent earlier in the year. The AMCON rate hike represents about three to four per cent increase in total operating costs for banks. AMCON debited the banks around 18 September, hence more cash left the coffers of the banks.

    Data obtained from the Financial Market Association of Nigeria (FMAN) showed that as a result of these restrictions, Nigeria Interbank Offered Rate (NIBOR) call (overnight) tenor rose 3,225 basis points to 60 per cent on September 18. The rate was at 44 per cent on 16th September, from 28 per cent the previous day. The NIBOR was at average of 14 per cent before the CRR hike took effect.

    Managing Director, Afrinvest West Africa Plc, Ike Chioke expressed concerns over both policies, saying there will be unavoidable impact’ of the new 50 per cent CRR on majority of the banks going forward.

    The CRR policy, they said, implies significant increase in the banks’ cost of funds, a tensed pressure on the Net Income Margin (NIM) as a larger proportion of the deposits will now be held in CBN’s coffers as reserves.

    He said the affected banks might have to sell down on investment securities to call back the 38 per cent, and also consequently, may re-navigate their deposits mobilisation strategies, re-price risk assets in line with their “cautious” lending strategy and adjust business model.

    Equally to affect banks’ profitability is the implementation of revised guide to bank charges. The CBN said bank customers will from 2016 begin to enjoy free COT on all their transactions. The policy which took effect on April 1, has seen the COT gradually drop to N3 per mille this year. It will be N2 per mille in 2014; N1 per mille in 2015 and zero per cent per mille in 2016.

    Banks have also agreed to put a stop to all charges associated with the use of Automated Teller Machines (ATMs). The agreement was the highpoint of a meeting between the Bankers Committee made up of Chief Executive Officers of Deposit Money Banks, directors and top officials of the CBN and Nigeria Deposit Insurance Corporation (NDIC). Before now, account holders had been made to pay a flat rate of N100 per withdrawal any time they used other banks’ ATMs.

    Although ATM fees were not large, their removal places additional pressure on NIR. Since December 2012, the previous N100 ATM charge has been borne by the customer’s bank. Therefore, as opposed to bank A’s customer paying an ATM fee when she uses bank B’s ATM, it will now fall on Bank A to pay Bank B directly for this service. This favours banks with larger ATM footprints, again Tier 1 (big) banks over Tier 2 (small) peers.

    Chioke said the banking industry is now confronted with the reality of declining fee incomes, mobile money and dollar denominated capital sourcing.

    He predicted that the era of “real banking” appears to be gradually re-emerging as traditional sources of high income/profitability continue to come under threat from increased competition and tighter regulation. According to him, in the next five years, outlook on yields and fee income remains downwards, necessitating the need for banks to focus on lending to the real sector. Also, banks are expected to develop and grow the depth of their core retail banking businesses to retain and amplify cheap deposits.

     

    CBN’s position

    Director of Communication at the CBN, Ugochukwu Okoroafor told The Nation in a phone interview that the regulator is more interested in the overall impact of the policy on the economy than banks’ returns.

    He said: “Banks’ earnings could decline, but we are looking at the overall impact of the regulation on the economy. Remember that banks are just one segment of the economy.” He said the regulator would continue to ensure safety of the financial system.

     

    Shareholders react

    Chairman, Progressive Shareholders Association, Boniface Okezie said contributions to the AMCON levy have become outrageous and eating deeply into banks’ profitability. He advised the banks to always make public, by including in their annual reports, whatever contributions they make to regulators.

    “Investors money can’t be used to fund regulators. This is not acceptable to us, and should be discouraged,” he said. He said that funding of such regulatory bodies should be done by the Federal Government, and not quoted companies, to ensure objectivity and transparency.

    He said banks’ earnings have been badly depleted by the AMCON levy hike. He said he had earlier warned that the CBN is over regulating the sector. “The shareholders are being denied their take home pay. The policy changes are targeted at shareholders,” he said.

    He said many banks now lack the needed fund to lend, which could have helped improve their earnings. Okezie said over regulation will only end up in killing the banking sector and throw more bankers out of job.

    Michael Okafor, a shareholder in one of the banks said feedback from the third quarter results is making many shareholders to have a rethink on investing in banks. He said banks now have to drive low cost funds from Small and Medium Enterprises (SMEs) for them to remain profitable giving the declining margins in government deposits. “It is no longer profitable and wise to keep expensive funds mainly from government. I think forward thinking banks should go for cheaper funds to reduce their cost of funds and create better returns for shareholders,” he said.

  • Kwankwaso challenges politicians on development

    Kano State Governor Rabiu Kwakwaso has urged political office holders to be committed to projects that will develop the country and help ameliorate the suffering of the rural poor.

    Kwankwaso, who was represented by the Commissioner for Housing, Mohammadu Yahaya, spoke at the second induction into Nigeria’s Construction Industry Hall of Fame ogranised by Construction and Engineering Digest Magazine at Sheraton Hotel, Lagos.

    The programme which was tagged: Sustainability Strategies for Energy Efficiency in Nigeria,  had over 200 accomplished engineers, surveyors and town planners drawn from different parts of the country. Among the guests were the founding president, Mr Otis Anyaeji, the chairman, Federal Road Maintenance Agency (FERMA), Mr Ezekiel Adeniji, former governor of Ogun State, Gbenga Daniel, National Chairman, Nigerian Society of Engineers, Prof David Esezobor.

    Kwankwaso said democracy can only thrive when there are meaningful improvements in the quality of life of the people, especially the rural poor.

    Citing the recent National Bureau of Statistics on poverty level in Nigeria which states that 112 million people are poor, he said it is obvious that Nigeria is in dire need of politicians who will bring hope to the people through well thought-out plans and infrastructural development.

    He noted that the administration of Kwankwaso has given birth not only to Kwankwasiyya city but also close to 50,000 service plots and drainage in all the 44 local government area in the state, as well as several roads and infrastructure that have upgraded the ancient commercial city.

    The governor noted that development programmes in education, health care, environment, and infrastructure have been the core of his administration in the last two years.

    Kwankwaso said that politicians should work hard to make Nigeria great again and avoid playing politics with taxpayers’ money “as we will all give account of our stewardship someday. We have built 5 km roads with concrete drain and streetlights across the 44 local government area in the state.”

    Also, the Chairman of FERMA, Adeniji who lauded the effort of this administration on infrastructural development, said “the collaboration of the people in the maintenance of our roads is very germane.”

    He also spoke about the commitment of the agency.

    “We don’t just want to build the players of the system but the system itself that will be able to manage our roads effectively across the country for the benefit if all Nigerians.”

    In his opening address, the Publisher of CED Magazine, Mr. Kenneth Odusol-Stevenson said that the initiative was borne out of the desire to indentify and uphold those professionals and corporate organisations who have stood the test of time in Nigeria, believing in Project Nigeria and withstanding all the challenges to remain focused on delivering value services to the construction industry and allied sectors.

    “We are focused not just on recognising individual achievements but in rewarding long-standing consistency and lifetime commitments to the goals of enhanced professional service delivery”, he said.

     

  • NAICOM, CEOs in discuss industry challenges

    NAICOM, CEOs in discuss industry challenges

    Commissioner for Insurance, Fola Daniel and Chief Executive Officer of insurance companies in the country yesterday held a meeting behind closed doors over burning issues in the industry.

    The top echelon who met at the 2013 Professionals’ Forum of the Chartered Insurance Institute of Nigeria (CIIN) with theme, “The Insurance Industry in Motion-Emerging Issues for the Professionals” at Premier Hotel Ibadan, Oyo- State declined to speak with journalist on the agenda of the meeting.

    The meeting is coming on the heels of failure by 28 insurance company’s inability to submit their International Financial Reporting Standard (IFRS) financial accounts to NAICOM for approval three months after deadline.

    Sources hinted that this and other issues like Group Life arranged for Federal Government workers and regulatory and legislative matters form part of the discussions.

    The insurers according to insurance law risk cancellation of their operating license following the June 30 deadline submission date.

  • N1tr pay: Ezekwesili challenges lawmakers to public debate

    N1tr pay: Ezekwesili challenges lawmakers to public debate

    A former Vice-President of the World Bank, Mrs. Oby Ezekwesili, yesterday urged federal lawmakers to organise a public hearing on their budgetary allocation and remuneration.

    She said instead of verbal attacks, the lawmakers should come up with data to controvert her disclosure that N1 trillion had been voted for the National Assembly in the last eight years.

    Ezekwesili, who insisted on the facts in her presentation at a Roundtable on Cost of Governance on Monday, said she is ready to appear before a public hearing.

    She expressed regrets that members of the National Assembly, without the benefit of her full speech, strangely chose to haul verbal assaults and threats at her.

    Ezekwesili said: “My presentation approached the topic more broadly, by calling attention to the fundamentally unsustainable economic structure that has caused Nigeria’s development over the last 53 years to lag behind those of countries with similar political history with attendant high poverty level of 69% of our citizens according to the National Bureau of Statistics.

    “As part of the aspect of my presentation that touched on management of Public Finance, I provided eight years data on budgetary allocations or transfers to the National Assembly.

    “The data in question is publicly available information from the Ministry of Finance which reveals that the allocations to the National Assembly known as Statutory Transfers between 2005 and 2013 were approximately One Trillion Naira as follows:

    2005 (N54.79billion); 2006 (N54.79billion)2007 (N66.4billion);2008 (N114.39billion);2009 (N158.92billion); 2010 (N 150billion);2011 (N150billion);2012 (N150billion); and 2013 (N150billion).

    “I also provided information available in a recent global comparison of legislators’ remuneration across the world recently published by the United Kingdom based The Economist magazine. I stated that the report alleged that Nigerian federal legislators with a basic salary of $189,500 per annum (N30.6m) were the highest paid lawmakers in the world.

    “In reaction to various versions of news media report of my speech a number of members of the House of Representatives and Senators speaking as spokesmen of the National Assembly (NASS) and perhaps without the benefit of my full speech, strangely chose to haul verbal assaults and threats at me. “

    She faulted the National Assembly for not tolerating dissension on its budget.

  • Sambo challenges ex-minister to publish Kaduna debt profile

    Sambo challenges ex-minister to publish Kaduna debt profile

    Vice President Namadi Sambo last night challenged former minister of the Federal Capital Teritorry (FCT), Mallam Nasir el-Rufai, to publish the debt profile of Kaduna State when he (Sambo) was the governor.

    He said contrary to el-Rufai’s insinuations in a statement, he is incorruptible. Sambo, who made the clarifications in a statement by his Special Adviser on Media, Alhaji Umar Sani, accused el-Rufai of “pursuit of strategic political interest.”

    The statement said: “While it is not in the character of the Vice-President to trade words or join issues with anyone, the compelling need to set the records straight has necessitated that clarity of the issues raised be proffered for posterity.

  • Army chief challenges college on risk assessment studies

    Army chief challenges college on risk assessment studies

    CHIEF of Army Staff Gen Azubuike Ihejirika has challenged the college of Logistics to deepen its research.

    He is also seeking an updated training of inducting units for logistics support for the military in its battle against insurgents.

    Gen Azubuike spoke at the weekend in Lagos during the graduation of logistics support staff Course 10/2013 of the Nigeria Army College of Logistics (NACOL)

    He was represented by the General Officer Commanding, GOC 81 Division, General Obi Umahi.

    “We must be seen to be carrying out our roles as enshrined in the Constitution. Thus, total loyalty and subordination to civil authorities is expected from all officers and soldiers. Commanders at all levels are to continue to provide the required leadership and ensure that their soldiers are continuously educated on their roles in the current setting,” the Army chief said.

    In his welcome address, NACOL’s Commandent, Gen. Abubakar Gana said of 19 students that enrolled in the seven months course, 18 of them graduated. One could not complete it as a result of health challenges.

    He said the 18 graduants included 15 army officers; a naval officer; a police officer, all from the ranks of Captains and Majors or their equivalent, and a senior civilian staff from the Ministry of Defence.

    Gana said the college has cumulatively graduated nine sets of officers for logistics staff course and 10 other sets for logistics management course, noting the importance of training in order to produce workable blueprints for logistics management today and the future.

    “I am confident that with further development, exposure and adequate tasking, the graduants would contribute and enhance the efficiency of military logistics in the armed forces. I urge formations and army headquarters to deploy the graduates in areas of logistics planning with a view to improving the system as well as their abilities in logistical matters.

    “The course would also expect feedback on the performance of these officers in the field as it would help improve the quality of succeeding courses,” he said.

    Gana disclosed that the college was collaborating with the Chartered Institute of Logistics and Transport, United Kingdom, Chartered Institute of Purchasing and Supply Management of Nigeria, CIPSMN, as well as other international institutes on logistics training.

    He said: “NACOL, with the COAS directives, has endorsed an MoU to operate as a regional PSO training institution for strengthening of Economic Community for West African States, (ECOWAS), Stanby Force, ESF, in order to create the modalities for enhancing demand-driven PSO training.”

    Gana, who urged that priority be given to the members of staff of NACOL for logistics and management trainings abroad, also stated that the challenges bedeviling the college include “the replacement of the lift; classroom furniture, fire fighting facilities and water supply.”

    In his goodwill message, CIPSMN’s President Mohammed Aliyu said there was need for careful procurement, planning, implementation and monitoring of budget.

    He said supply chain management strategy and policies are necessary not only to arrest the decline in all sectors but to engineer growth and sustainability, just as he called for enormous public and private collaboration to enhance the economy.

  • Verbal blows as Omisore challenges Aregbesola to debate

    Osun State Peoples Democratic Party (PDP) governorship aspirant, Senator Iyiola Omisore, has challenged Governor Rauf Aregbesola to a public debate on good governance.

    But he got more than he bargained for, with the government replying him in proverbs and sarcasm.

    Speaking with reporters at his country home in Ile-Ife yesterday, Omisore claimed he parades better credentials than any politician in the Southwest.

    Said he: “I am the only one with a doctoral degree (PhD) in Public Private Enterprise (PPE). No politician has the type of curriculum vitae I possess in the Southwest. I was once a deputy governor, a senator, an engineer and a philosopher. I went to the best schools and worked for the best international companies. With all modesty, no one can match me in engineering practice.

    “In the last 15 years I have been with the people of Osun State. I know the length and breadth of the state. I know the pains the people go through.”

    Omisore said Osun State indigenes are waiting for him to become their governor because they know him to be one of them.

    He said the demolition of structures on the major road going on in the state was unnecessary, adding that it was unreasonable to make people go through pains.

    He said he was not against the urban renewal efforts of the present administration, but residents should be engaged and prepared ahead of the exercise.

    “There are better ways of doing urban renewal as done in many advanced countries. We are not in the jungle where anyone can just do things anyhow,” Omisore said.

    He denied dumping the PDP for the Labour Party to actualise his governorship ambition, saying as a financier of the party, he would not consider the option because his political structure had always helped the party in all elections.

  • How Nigeria can overcome challenges, by ex-EFCC chair

    How Nigeria can overcome challenges, by ex-EFCC chair

    A former Chairman of the Economic and Financial Crimes Commission,(EFCC), Mrs Farida Waziri, has said that there is the need for soul searching by the leaders at all levels to address the challenges facing the nation.

    She said no one could address the nation’s problems than Nigerians.

    Mrs. Waziri gave the advice while fielding questions from reporters at the premises of Saint Edwards Catholic Church, Uga, in Ushongo Local Government of Benue State, where a thanksgiving reception was held in her honour by the Uga Mbakuha community.

    A statement by her media office quoted the ex-EFCC chair as saying: “In view of the daunting challenges facing our nation at this moment of our history, we need to sincerely seek God’s help but it is obviously not enough for our people including our political, religious and community leaders to just troop to mosques and churches on Fridays and Sundays, we all need to do serious soul searching and that’s the point frank and selfless ideas that will bring lasting solutions can come forth.”

    “ I am saying this because some of the things happening in our communities and country as a whole today are strange to us historically and culturally.

    “ We are fast losing our culture of being our brother’s keeper instead we seek the fall of the next man. Do we do unto others what we want them to do unto us? We need to retrace our steps as a people and as a nation.

    “We surely have to return to God but beyond that let’s all search our conscience and there we will find where we missed it at personal, household, community, state and national levels because solutions to our problems will not come from anywhere other than within our dear Nation, Nigeria”.

    Earlier at the well-attended event, Waziri thanked her people for the honour and called for the deepening of the bond between the community, its neighbours and the government.

    The statement added: “She said for years, she had been taken away from her place of birth in her bid to serve her fatherland, Nigeria, adding that the “values learnt during my early formation are what invariably demonstrated in my commitment to work, honesty and hard work in any assignment entrusted to me.

  • Orji identifies health sector challenges

    Orji identifies health sector challenges

    Governor Theodore Orji of Abia State has said that the basic problem plaguing the nation’s health sector is disharmony among the various categories of workers in the health institutions.

    Orji made the assertion in a keynote address at the 2013 health week organised by the state branch of the Medical and Health Workers’ Union of Nigeria in Umuahia.

    The governor, represented by the state’s Commissioner for Health, Dr Okechukwu Ogah, urged the workers to recoup the huge investment made in the sector by the government.

    He said the state government had invested much in equipping the hospitals.

    “Everybody must not depend on the federal allocation as the only source of revenue to pay the workers.

    “We have installed dialysis machines at the Abia State University Teaching Hospital, Aba.

    “We also have dialysis machines at Abia State Specialist Hospital, Umuahia and these can help to generate revenue,’’ he said.

     

     

    The governor added that his administration had constructed and equipped 250 primary health centres in addition to the existing ones in the 17 council areas.

    Orji said the state ministry of health would soon begin free screening for diabetes, hypertension and high blood pressure.

    He said the programmes were in line with the administration’s goals of promoting healthy living among the people.

    Chief Uchenna Obigwe, the union chairman in the state, said the week was to showcase the importance of peace, co-operation and team work in the nation’s health institutions.

    Obigwe said that for effective healthcare service, all aspects of the healthcare system should be well taken care of.

    He called for adequate and uniform remuneration of health workers in the state.

    Also, Dr Ikechukwu Nwabekee, a lawmaker who chaired the occasion, said two bills for the management of the health sector were pending in the state House of Assembly.

    Nwabekee, representing Osisioma Ngwa Constituency, said the assembly was aware of the problem of disparity in the salaries of health workers and that it would be addressed.

     

  • Maigari challenges Leagues to produce more stars

    Maigari challenges Leagues to produce more stars

    President of the Nigeria Football Federation (NFF), Aminu Maigari on Tuesday in Abuja challenged the various Leagues to produce more heroes and stars for Nigerian football, in the mould of Super Eagles’ Cup of Nations boys Sunday Mba and Godfrey Oboabona.

    “The Leagues have the responsibility to work even harder now to produce heroes for Nigerian football, following the excellent performance of some home boys at the Africa Cup of Nations in South Africa. Surely, the reward for our success in South Africa will be more work on the part of all of us – the NFF, the State FAs, the Leagues and our various clubs.

    “In football, you are as good as your last result. Today, we are the champions of Africa. To maintain that status, we need to work even harder than we have ever done previously. Staying at the top is a lot more difficult than getting there. But be assured that the NFF will always give the necessary support,” said Maigari.

    The NFF President spoke at the opening ceremony of the Congress of the Nigeria Nationwide League, which held at the West Point Hotel, Abuja.

    The Honourable Minister/Chairman, National Sports Commission, Bolaji Abdullahi was represented by the Director of Grassroots Sports Development, Alhassan Yakmut, who laced his address with encomiums for Maigari and the NFF for the Super Eagles’ triumph at the Africa Cup of Nations in South Africa.

    Maigari is the first man to preside over Nigerian football at a time the nation is champion of Africa at both junior and senior levels. The U-20 National Team, Flying Eagles, is set to defend its continental crown at the African Youth Championship in Algeria next month.

    Also at the Natonwide League’s congress opening ceremony were Hon. Godfrey Ali Gaiya, chairman of the House of Reps’ Committee on Sports, NFF Executive Committee members, Yusuf Fresh and Dilichukwu Onyedinma, NFF General Secretary, Barr. Musa Amadu, Director of Technical, Dr. Emmanuel Ikpeme and Director of Competitions, Dr. Mohammed Sanusi. President of the Nigeria Olympic Committee, Eng. Sani Ndanusa was represented by the President of Traditional Sports Association.

    The theme of the congress, which also took in the Draw Ceremony for the season, is: Using Football As A Tool Of Fighting Current Challenges Facing Our Country.