The Nation Newspaper

Tag: Nigeria newspaper

  • Be self-confident, NGO advises students

    Concerned about lack of adequate education for the girl child in Nigeria, the Truss Empowerment Foundation (TEF), a non-governmental organisation (NGO), has reiterated its commitment to ensure that the girl child is imbued with the requisite knowledge that will build her self-confidence and make her contribute to the country’s socio-economic growth.

    The foundation aims at empowering women and girls and providing supports for them in the areas of education, emotion, social, economic and political issues. It also aims at creating opportunities for them while addressing core issues that hinder the development of the female gender.

    “Well, no one prays for deviation from his or her main duty to less recognised one. So, the deviation of the Truss Empowerment Foundation from its main motive which is ‘creation of empowerment for the female gender’, into children’s educational funfairs with the topic ‘re-imaging education’, is a welcome idea.

    “The actualisation of any lucrative or innovative idea of a child depends on his readiness to discover whom he or she is and what problems he or she wants to solve in the society. Every child has the innate ability to explore one gift or talent if he or she finds a mentor or pathfinder that can encourage and guide him or her to the right path besides the formal education which he or she needs to learn through schooling.

    “In any society, the government is responsible for the education of the children. It is through this formal process that a child can develop self-esteem which is the only element that can bring confidence in portraying the gift; talent or passion endowed inside him or her.

    So, as the government has only introduced how a career could be chosen in the schools’ curriculum without proper orientation programme, the Truss Empowerment Foundation has taken up this career discussion as one of its responsibilities by inviting some young Nigerians whose talents or special gifts have really reinforced their academic qualifications, despite the stress they went through during the struggle, to have discussion with some invited students from schools in Lagos State,” she said.

    The event which held at Black Bell Restaurant; Adeola Odeku on Victoria Island Lagos State was a gathering of children across various schools. The speakers that attended the occasion engaged the children in talks that are life changing. The event was aimed at making the children to discover whom they are and to be guided towards achieving their goals.

  • The unending Ihedioha, Okorocha feud

    Imo State Governor Emeka Ihedioha and his predecessor, Senator Rochas Okorocha, are locked in a war of attrition. Senior Correspondent NDIDI OKODILI examines the predecessor–successor crisis and its implications for governance in the Southeast state.

    The crisis between Imo State Governor Emeka Ihedioha and his predecessor, Rochas Okorocha, has escalated. The feud has further divided the Southeast state.

    Supporters of the two politicians are at daggers drawn. The faceoff worsened after the Chairman of the Committee on Recovery of Government Property, Jasper Ndubuaku, Special Adviser on Security Matters, was beaten up by youths sympathetic to Okorocha, while trying to enter the former governor’s private residence in search of government property, which he claimed were hidden in there.

    Shortly after the video of the assault  went viral on the internet, the state government declared the former governor wanted

    The Secretary to Government, Uche Onyeaguocha, ordered the youths and women to apprehend Okorocha, the Senator is representing Imo West. Subsequently, some youths stormed the Sam Mbakwe Airport to lay ambush for Okorocha, who they thought was returning to the state from Abuja.

    The faceoff took a new dimension after Okorocha, who left the state after May 29, returned to address his followers. The followers had been hounded and harassed by government officials who were raiding their homes and business places hunting for government properties.

    He charged them to resist harassment from government agents and protect their properties and businesses from “senseless looting”.

    The former governor debunked some of the allegations leveled against his administration. This was countered by the state government, which went on air to chide Okorocha for trying to heat up the polity and distract the governor.

    Many groups, including traditional rulers and religious organisations, joined forces with the state government to tackle the former governor for ordering his supporters to resist the government, describing his visit to the state as trouble-shooting.

    Rivalry:

    Ihedioha and Okorocha have been locked in political rivalry and ego battle, which they craftily concealed through the years.

    The mutual suspicion was evident in the tepid relationship that existed between them while Ihedioha was Deputy Speaker of the House of Representatives and Okorocha was governor.

    Ihedioha often boasted to his supporters that he was on the same pedestal with the governor, in terms of the powers and paraphernalia of office.

    Okorocha saw Ihedioha’s attitude as an affront to his office. He accused him of riding on the back of former President Goodluck Jonathan to undermine his administration.

    During the annual ‘Iri Iji Mbaise’ in 2014, Ihedioha, a native of Mbaise, tried to stop the then governor (Okorocha) from presiding over the ceremony. A franca was averted by security men.

    But,  the strain in their relationship became open during the 2015 govenorship election when Ihedioha contested against Okorocha who was seeking a re-election.

    Ihedioha, relying on his contacts at the Federal level, dismissed Okorocha as a walkover. But, he was shocked when it was declared inconclusive and a supplementary election was fixed after President Jonathan had lost to Buhari, thereby pruning Ihedioha’s chances.

    Okorocha formed an alliance with aggrieved members of the People’s Democratic Party (PDP), led by Senator Ifeanyi Araraume, who had vowed to stop Ihedioha and he won the election.

    Ihedioha was embittered, especially after a shoddy attempt to challenge Okorocha’s victory at the tribunals. His petition and subsequent appeals were struck out due to technical errors.

    Okorocha touted Ihedioha that he has been retired from politics. He challenged him to give the scorecard of his 12-years at the House of Representatives.

    Ihedioha was tactically run out of the state as he stayed away and craftily avoided the state for the time Okorocha’s second tenure lasted.

    Okorocha’s travail

    The rivalry between the duo was rekindled after Ihedioha joined the governorship race. Okorocha, who was rounding up his second tenure, was supporting Uche Nwosu.

    Deploying the privileges of an incumbent governor, Okorocha held sway and intimidated other contestants with his massive followership.

    Ihedioha was ridiculed on many occasions by supporters of the former governor, who mocked him that he did not stand any chance against their candidate.

    Ihedioha’s demeanor during the campaigns showed that he was disturbed and intimidated by Okorocha’s swagger, even though he tried not to show it.

    Trouble started for Okorocha and his allies when Ihedioha was declared winner of the election and his candidate, Nwosu, came second. Ihedioha’s supporters went on rampage smashing billboards and campaign vehicles.

    The early sign that Ihedioha wanted a pound of flesh was his shunning of Okorocha’s invitations for a meeting to plan the handover and discuss the way forward for the state.

    He immediately wrote to financial institutions to desist from carrying out any transaction with Okorocha on behalf of the state government.

    Following his assumption of office, Ihedioha launched a massive campaign of calumny against Okorocha, detailing how he wrecked the treasury and grounded the state.

    He alleged that the former governor diverted N1trillion belonging to the state.

    The governor revoked the decisions and actions taken by Okorocha in the twilight of his administration, including land allocations and recruitment.

    He inaugurated a Committee, named Imo State Recovery Committee, to go after the former governor, his family members and those that served in his government and recover government property from them.

    A political foe of the former governor Ndubuaku, was named the Chairman of the Recovery Committee and he quickly indicted the former governor of carting away 67 vehicles belonging to the state government.

    For three months, the Ihedioha administration sustained the onslaught against the former governor, until he visited the state on August 20 and turned the heat on the state government by charging his supporters to come out and defend themselves.

    Power play:

    Okorocha had stepped on so many toes.

    At a point, he pegged the age for those aspiring to govern the state at 50, a move that was seen as a ploy to completely shut out the old politicians.

    Prominent among those calling for the head of Okorocha, Onyeaguocha, Eze Cletus Ilomuanya, who was sacked as the Chairman of the Imo State Council of Traditional Rulers and subsequently deposed as the traditional ruler of Obinugwu.

    Also notable in the Army against Okorocha is the Catholic Archbishop of Owerri, Anthony Obinna, who openly led the campaign against Okorocha’s succession plan.

    Onyeagucha, a former member of the House of Representatives, was appointed as a political adviser by Okorocha, but they fell apart after the governor refused to support his ambition of succeeding him, being from Owerri zone.

    However, apart from settling scores Ihedioha’s war against Okorocha may not be unconnected with the petition filed by Okorocha’s son-inlaw, (Nwosu), who was the first runner up and the need to decimate Okorocha’s support base in anticipation of a possible re-run.

    Politics of probe:

    Ironically, the strongest supporter of the call for Okorocha’s probe is the Imo State Council of Traditional Rulers, considering the robust relationship that existed between the governor and the monarchs.

    But, they were among the first group to declare full support  for Ihedioha’s plan to probe Okorocha’s  administration, which they said was characterized by unprecedented wastage of public resources.

    The Chairman of the Council, Eze Samuel Ohiri, said: “After the emergency meeting of the traditional rulers, we resolved to encourage Ihedioha to ensure that all the government properties illegally acquired by the former governor and his cronies were recovered to Imo”.

    Another group, is the Orlu Elders Council, Okorocha’s kinsmen, who are pressing on the governor to prosecute his predecessor..

    The Chairman of the Council, Francis Dike (SAN), accused Okorocha of looting the state.

    The faceoff is far from abating as both sides are talking tough. The government has vowed to return to Okorocha’s home and continue the search for government property. Youths loyal to him are keeping vigil in the premises to wade off any attempt to break into the former governor’s stronghold.

  • Don’t expect rubber-stamp National Assembly

    Yemi Adaramodu, former Chairman of Ekiti Southwest Local Government, one-time Chief of Staff to Governor Kayode Fayemi and Chairman of House of Representatives Committee on Youth Development, spoke with Lucas Ajanaku in Lagos on the imperative of cordial relations between the executive and legislative arms of government.

    Kidnapping, cyber crimes, etc are as a result of youths unemployment. In your capacity as the House Committee chairman on Youth Development, what would you do to reduce these vices?

    When we talk of the youths,we know that the youths constitute 60 per cent of the population of Nigeria and that large population can never be ignored or can’t be treated with levity. First of all, we want to charge our parents that it is not only to give your children formal education. You should give your children informal education. What are the home training that our children are receiving nowadays? How many parents do have the time for their children nowadays? Then what about the community peer groups? Are they there anymore? So today, it’s just for us to rush a three months old baby to school, he or she starts school from three months. We want them to graduate even when they are still sucking. We produce kids as graduates who don’t even have exposure about life training which contributes to a total person, then value will be built. Then once there is value in the society, definitely we can now know which one we should do in order to gain prominence or become successful the society instead of cutting corners.

    Secondly, the government for me is doing well to create jobs and empower the youths. The N-power is a good example of this laudable initiative of the Federal Government whereby graduates become entrepreneurs and also become job creators. It is very good because it has taken millions of youths off the streets. Then the curriculum that is being taught in school should be the one to prepare the total mind of the child. When the total mind of the child is trained, it is then appreciated and the way the society is seen would be different from what is happening now. Today, unfortunately  what is happening is that everybody wants to have money and wants to get rich quickly. Societal values are no more inculcated either in the curriculum or in the formal training of our children.  That’s why all these cutting corners; all these idea  of wanting to make it at all cost by either kidnapping, robbery or any other notorious means are with us.

    There is this impression that the Ninth National Assembly will be a rubber stamp because of the rancour-free emergence of its leadership. Do you agree with this?

    Are they saying Rt Hon Femi Gbajabiamila, who is the Speaker of the House of Representatives, is not qualified? He has been in the National Assembly for the past 17 years. Are we saying he is not qualified to preside over  the House? What kind of rubber stamping are they talking about? Someone like Speaker Gbajabiamila who has been  Minority leader,  Majority Leader in the House. He had gone through the robes and has learned through the robes and has he the requisite experience and knowledge to lead the House.  Are we saying someone like that is going to be a rubber stamp? That is not logical. Then, the House of Representatives  elected him in a transparent election. You should know that he was popularly elected and even opposition parties voted for him. Are we then to say that the opposition parties that voted for him are rubber stamps of the ruling All Progressives Congress (APC)?. The lawmakers saw his leadership qualities  and his virtues, that was why they voted for him massively to be the Speaker.

    Even in the leadership of the committee members that have just been constitited, we have PDP member as the chairman and vice chairman, APGA members, APN members. It’s an all inclusive committee. Just like the motto of his campaign that said:  ‘United Fronts’ which is truly a united fronts. We can’t say there are no more party members because bills and motions will be raised by members and senators and definitely not by the leaders. So there’s no rubber stamp.  The legislature has its own role which cannot be compromised and  has been exclusively stated in the constitution.  So there can’t be rubber stamping. When we talk about budget scruitiny and passage, the ministry prepares and defends it. The ministry cannot build a bridge where there’s no need for one.

    In the 8th National Assembly, there was executive and legislative bickering that held the nation to ransom…

    The reason why it was like that was because everybody came through a political party which was their platform.  Once we have a parent that sends us somewhere, we must listen to them. The emergence of the 8th Assembly did not conform with that kind of parent-child  relationship. The party that sponsored you and called you together and  asked   how you wanted to pick your leadership did  the right thing. Do you think because of that, the leadership would not have the conscience to move forward and say they want to partner?

    There must be partnership in every arm of government. There’s no water tight separation of powers among the three arms of government. The executive can not go alone, neither can the legislature. If they decide to go alone, then, who would make the laws to be executed? So there’s no rubber standing there.

    The Presidency is planning to revert to January-December budget cycle. Do you see that possibility? 

    Yes. It is quite possible because that was what Nigeria had practiced before and it was very okay. Although it had since changed. Even among Nigeria, it’s very confusing to say the new year starts in June. When you say the year’s budget, to everybody, the year starts in January and ends in December. So 2019 budget is 2019 budget and not 2019/2020 budget. So it’s supposed to be a year’s budget and it’s better like that.

    Is the National Assembly is ready to work with the Presidency to make this happen?

    We are prepared and committed to making it happen. It’s the duty of the executive arm of government to prepare the annual budget. The National Assembly’s function to scrutinise the proposed appropriation bill and give approval. So the executive arm of government too has a huge responsibility to make it happen.

  • ShowDemCamp, Noble Igwe, others unveil Tiger’s new 33cl sleek can

    Popular personalities ShowDemCamp (SDC), Noble Igwe, Teddy A  and Waye joined consumers and fans to launch Tiger, all-new 33cl sleek can at an exclusive event in Lagos at the weekend.

    Just a few days before the event, SDC and other celebrities shared pictures and videos of themselves trying out a variety of new things, alluding to the new product size of the edgy brand as the conversations culminated with updates from the unveil party.

    The party was filled with excited fans, delicious grilled delicacies, body arts, the strikingly bold, and refreshingly smooth Tiger beer and good music which had fans dancing and grooving all through.

    Complete with performances from SDC, among others.

    Speaking on why the brand chose to introduce a new product size, the Marketing Director, Nigerian Breweries Plc, Emmanuel Oriakhi, said: “Tiger Beer identifies with the bold Nigerian, whose passion brings him a sense of purpose. With the launch of this new sleek can, we want to provide our consumers with a new range of choices. The new Sleek Cans will also provide some form of convenience for our mobile and energetic consumers.

    “It has been an exciting period for Tiger and we’re glad our consumers are having as much fun as we are even as we roll out all of our big plans. ‘’’Since Tiger’s launch, we have sort out ways to bring the brand closer to its consumers. This new can presents us with another opportunity, allowing us to reintroduce Tiger to young, edgy, progressive and passionate Nigerians. We intend to continue on this path and we believe this is only the beginning of what will be a long relationship between the premium beer brand and millennial Nigerians.”

  • Education: The trigger and the catch

    SIR: The glory of yesteryears education system in Nigeria has vanished like the vapours of a dewy morning. No vehicle can run indefinitely without a refuel, just as no tree can hope to remain sturdy without water and sunshine. The events of recent years have no doubt inscribed this truth deeply into the breasts of our near comatose education system. It is apparent that we are still practicing a backward oriented education system in Nigeria in this digital age. The current system has continued to fail the internationally recommended tests. A clinical assessment of the Nigerian education system calls for emergency and a 360 degrees mental disruption. The challenges that plague the education sector in our country are legion but a few highlights will be made.

    The over-westernised culture in the modern education curriculum is a welcome development but has retarding effect on our indigenous ones. The mad quest for British curriculum has deleted the necessary ingredients in the Nigerian scheme thereby rendering some core Nigerian subjects impotent in the classroom. Nigerian history has been totally obliterated from the educational curriculum. The real truth about Nigeria political pilgrimage has been stolen, the spiral effect is a generation of students who are ignorant of the political ecosystem called Nigeria. These students go into leadership offices totally oblivious of the political system since they are not well informed via tutelage.

    There is also the issue of infrastructural decay in our schools, chiefly public schools. A patriotic visit to most public schools in the country will leave you breathless. From cities to rural areas, the story is the same. It is very unfortunate that some students are learning seated on the floor without chairs. Some school structures are life threatening as they expose students to danger. Poor road network to schools, maladministration, bad governance and negligence have taken the Nigerian children into depression. Many of our public officials are interested in stealing money, take their children abroad and imprison the children of the poor in poorly managed schools manned by hungry teachers.

    Furthermore, the near absence of an education economy in Nigeria is sickening. The education economy will handle issues of non-payment of teachers, payment of peanuts to teachers and act as a catalyst that will encourage brilliant students who distinguished themselves in their different areas of academic endeavours. It is unfair that students who are academically outstanding are not recognised in Nigeria but reality TV show participants are celebrated, enriched and almost worshipped. The Nigerian system discourages academic investment in the education sector and encourages mass movement into the showbiz world.

    Finally, wrong policies by the government and companies lead to discrimination against individuals with Nigerian certificates as opposed to foreign ones. Individuals with foreign certificates are better positioned to pick most employment openings in Nigeria than those with indigenous certificates .This anomaly has triggered a high number of visa applications for tertiary institutions abroad in order to bridge the certificate gap leaving our home universities deserted.

    The government should as a matter of urgency declare state of emergency in the education sector so as to right the wrongs of the past years and emblazon our educational flag in the sands of time. The National Assembly should legislate the total restructuring of the education system to make our schools attractive and to discourage excessive travelling abroad for schooling. All public officials should be mandated to take their kids to public schools in Nigeria as that will fast-track government’s intervention to any of her plight. There should be a head count, enrolment and scholarships to all out of school children to encourage them to be better persons in the society. Government should equip states with standard library to instil reading culture and encourage students who are doing research. Educational grants should be constitutionalised to encourage indigent students. In Nigeria education sector, the government is the trigger while the schools are the catch.

    • Ikechukwu Agada,

    <bishopagada@yahoo.com>

  • FATF: Probing compliance with anti-money laundering rules

    The Financial Action Task Force (FATF) team will this month conduct its annual Mutual Evaluation on Nigeria. The exercise allows it to assess Nigeria’s compliance with the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) rules. The team will be assessing banks’ and Bureaux de Change (BDC) operators’ compliance level, writes COLLINS NWEZE.

    The sorry state of public institutions in the Economic Community of West African States (ECOWAS) is disturbing. In many public schools, students learn while sitting on the floor, hospitals lack basic drugs, while road networks are little better than death traps.

    These societal ills thrive where corruption and illicit financial flows are rampant and Africa has remained one of the biggest losers, with over $30.4 billion ferried out of the continent annually.

    To tackle Illicit Financial Flows (IFFs) in Nigeria, the Financial Action Task Force (FATF) will, this month, conduct stringent country evaluation and monitoring process in Nigeria during which banks and Bureaux de Change (BDCs) will be visited and assessed.

    The FATF, the global standard-setter in the fight against money laundering and the financing of terrorism and proliferation of weapons of mass destruction, conducts peer reviews of each member on an ongoing basis, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.

    The BDCs are conversant with the threats and dangers posed by Money Laundering and Terrorist Financing (ML/TF) in Nigeria, Africa and globally, and are helping to tackle the menace.

    President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, said the group, in collaboration with regulatory agencies and key government parastatals, conducts series of trainings to ensure compliance by its members.

    With over $30.4billion ferried out of Africa annually, ABCON is intensifying its commitment to fighting money laundering and terrorist financing by ensuring that its members comply with regulations in doing their business. Gwadabe said the group is already equipping over 4,500 BDCs with the right technology and skills to tackle illicit financial flows within the country.

    He said the BDCs meet regularly with regulators, government agencies/officials and experts to analyse, monitor and identify strategies for effective implementation of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) measures.

    He said the BDCs would welcome the FATF Mutual Evaluation team to Nigeria, saying the FATF assessment was designed to evaluate the implementation and effectiveness of the laws, regulations and other measures required to ascertain the effectiveness of the AML/CFT regime.

    The Mutual Evaluation will equally provide information on the progress made by Nigeria in meeting its obligations towards the FATF Recommendations.

    ABCON has, over the years, established itself as a key player in the Bureaux de Change (BDC) industry, and has also made several commitments and sacrifices to ensure that the sector continues to thrive and its members follow global best practices in the retail of foreign exchange to end users.

    The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is at the centre of the fight against the menace and terrorist financing across the Economic Community of West African States (ECOWAS).

    According to the group, about $30.4 billion is illegally transferred out of Africa yearly.  To stem the menace, GIABA is empowering key institutions to tackle illicit financial flows within the region.

    GIABA information Manager, Lagos Office, Timothy Melaye, said the Financial Action Task Force (FATF) requires countries to identify, asses and understand the Money Laundering/Terrorist Financing (ML/TF) risks to which they are exposed, take measures and mobilise resources to ensure that such risks are mitigated.

    “GIABA is a change agent. We build capacity, collaborate and sanction countries when they refuse to comply with the Financial Action Task Force (FATF) 40 recommendations. We also promote the economies of member ECOWAS states,” he said.

    FATF Mutual Evaluation and BDCs’Preparations 

    Gwadabe disclosed that ahead of the FATF Team visit, the ABCON, in collaboration with the Central Bank of Nigeria (CBN), is organising a sensitisation workshop for over 4,500 licensed BDCs in Nigeria. The workshop will hold in the six geo-political zones.

    He said as the global body that sets standard for AML/CFT efforts, the FATF team will assess banks and other financial institutions’ compliance with the AML/CFT measures, saying like in other previous visits, the FATF team will carry out checks at the branches of selected banks and BDCs across the country, as well as the airports and land borders.

    Gwadabe said Nigeria, which has been in the forefront of mentoring other member states in the development of their AML/CFT systems, has largely addressed its action plan by enacting legislation to criminalise money laundering and terrorist financing. The country is also implementing procedures to identify and freeze terrorist assets and ensure that customer due diligence requirements apply to all financial instructions.

    BDCs’ Compliance/Digitisation of Operations

    Gwadabe said BDCs have met a number of compliance requirements specified by FATF and local regulators, saying they have conducted enhanced due diligence, a major compliance requirement on some high-risk customers. He said the collation and reporting of foreign currency transactions and suspicious transactions by BDCs are now fully automated.

    He saud ABCON had in February, launched its Live Run Automation Portal in Lagos, stating that the technology automates all BDC Operations with those of Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN), enabling improved compliance of the BDCs with set regulations.

    The platform allows BDCs send their reports online real time, thereby removing the challenge of manual rendition of reports. The project has given a favourable rating in the perception index of BDCs in Nigeria especially in the eyes of international investors.

    Gwadabe said we are in the digital age, BDC operators under his leadership are committed to staying ahead of the competition by deploying time-tested technology to deliver effective services to customers and ensure compliance. He said the Live Run portal has enhanced BDCs compliance with set regulations and promoted market integrity, pointing out that the portal has sustained transparent transactions in the BDC corridor, boosted members morale  and ensured their continuous operations.

    Continuing Anti-Money Laundering War

    Gwadabe said public institutions in ECOWAS region have suffered immensely from the corruption going on in the public and private sectors, saying  ABCON is aware of the growing concerns over illicit financial flows (IFFs) from West African economies and the need to tackle them by key stakeholders within the region.

    He acknowledged the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA’s) 2016 – 2020 Strategic Plan, which showed that the Global Financial Integrity (GFI), the World Bank, the African Development Bank (AfDB), the Africa Progress Panel and the African Union’s High Level Panel on Illicit Financial Flows from Africa all paint a grim profile of the problem.

    A joint study conducted by the GFI and the AfDB showed that between 2000 and 2009, about $30.4 billion was illicitly transferred out of Africa each year. Over a longer period of 30 years, calculated from 1980, the resource drain was between $1.2 and $1.3 trillion. Outflows from West and Central Africa stood at (37 per cent), followed by North Africa (31 per cent) and Southern Africa (27 per cent). The IFFs are derived from various predicate offences of money laundering.

    Partnerships/Capacity Building for BDCs

    ABCON, severally, organised trainings for its members, and at other times, partnered NFIU and the EFCC to build capacity for operators.

    They have educated BDC operators on how they can help in tackling money laundering, terrorist financing and the benefits of keeping records of their transactions.

    The anti-money laundering training that ABCON organised with NFIU and EFCC in Lagos was meant to familiarise BDCs with the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime.

    Speaking during the sensitisation programme against money laundering and terrorism financing campaign at MM2, Lagos, which was attended by many BDC operators, the Acting Chairman, EFCC, Ibrahim Magu, called for continuous sensitisation on issues around AML/CFT reporting to improve transparency in BDCs operations.

    He said the EFCC would continue to campaign for financial integrity and transparency in BDCs’ operations. Other stakeholders at the event also spoke on the use of BDCs for illicit political transactions, illegal border cash evacuation, reporting of suspicious transactions, fraud accounts transactions and cash dollar deposits on domiciliary accounts.

    The NFIU/EFCC/ABCON goal is to ensure that BDCs are not used to launder funds by Politically Exposed Persons (PEPs). Their target was also to upscale BDCs’ compliance with the AML/CFT for Banks and Other Financial Institutions in Nigeria, Regulations 2013.

    These capacity building workshops have helped BDCS to understand how to raise and submit both the Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) to regulators.

    Report Filling by BDCs

    ABCON has continued to ensure that BDCs file their reports as and  when due. They file reports on all transactions from N10 million for companies and N5 million for individuals. The reports are sent on weekly basis  to NFIU, CBN and EFCC.

    The BDCs also do customers Know Your Customer (KYC) and due diligence reports.

    Daily Transaction Returns (DTR) gives details of the total sales made for the day by the BDC and comes in as DTR 202, DTR 217, DTR 305 and DTR 315.

    The DTR 217 return gives the information of the customers of whom the forex was sold to. Information like, the name, the international Passport number, Bank Verification Number, address, TIN number, email address among others while DTR 305 provides details of the customers as well their destination and reason for the purchase of forex. The total amount of forex sold to them is also mentioned with the transaction date.

  • FATF: Probing compliance with anti-money laundering rules

    The Financial Action Task Force (FATF) team will this month conduct its annual Mutual Evaluation on Nigeria. The exercise allows it to assess Nigeria’s compliance with the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) rules. The team will be assessing banks’ and Bureaux de Change (BDC) operators’ compliance level, writes COLLINS NWEZE.

    The sorry state of public institutions in the Economic Community of West African States (ECOWAS) is disturbing. In many public schools, students learn while sitting on the floor, hospitals lack basic drugs, while road networks are little better than death traps.

    These societal ills thrive where corruption and illicit financial flows are rampant and Africa has remained one of the biggest losers, with over $30.4 billion ferried out of the continent annually.

    To tackle Illicit Financial Flows (IFFs) in Nigeria, the Financial Action Task Force (FATF) will, this month, conduct stringent country evaluation and monitoring process in Nigeria during which banks and Bureaux de Change (BDCs) will be visited and assessed.

    The FATF, the global standard-setter in the fight against money laundering and the financing of terrorism and proliferation of weapons of mass destruction, conducts peer reviews of each member on an ongoing basis, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.

    The BDCs are conversant with the threats and dangers posed by Money Laundering and Terrorist Financing (ML/TF) in Nigeria, Africa and globally, and are helping to tackle the menace.

    President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, said the group, in collaboration with regulatory agencies and key government parastatals, conducts series of trainings to ensure compliance by its members.

    With over $30.4billion ferried out of Africa annually, ABCON is intensifying its commitment to fighting money laundering and terrorist financing by ensuring that its members comply with regulations in doing their business. Gwadabe said the group is already equipping over 4,500 BDCs with the right technology and skills to tackle illicit financial flows within the country.

    He said the BDCs meet regularly with regulators, government agencies/officials and experts to analyse, monitor and identify strategies for effective implementation of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) measures.

    He said the BDCs would welcome the FATF Mutual Evaluation team to Nigeria, saying the FATF assessment was designed to evaluate the implementation and effectiveness of the laws, regulations and other measures required to ascertain the effectiveness of the AML/CFT regime.

    The Mutual Evaluation will equally provide information on the progress made by Nigeria in meeting its obligations towards the FATF Recommendations.

    ABCON has, over the years, established itself as a key player in the Bureaux de Change (BDC) industry, and has also made several commitments and sacrifices to ensure that the sector continues to thrive and its members follow global best practices in the retail of foreign exchange to end users.

    The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is at the centre of the fight against the menace and terrorist financing across the Economic Community of West African States (ECOWAS).

    According to the group, about $30.4 billion is illegally transferred out of Africa yearly.  To stem the menace, GIABA is empowering key institutions to tackle illicit financial flows within the region.

    GIABA information Manager, Lagos Office, Timothy Melaye, said the Financial Action Task Force (FATF) requires countries to identify, asses and understand the Money Laundering/Terrorist Financing (ML/TF) risks to which they are exposed, take measures and mobilise resources to ensure that such risks are mitigated.

    “GIABA is a change agent. We build capacity, collaborate and sanction countries when they refuse to comply with the Financial Action Task Force (FATF) 40 recommendations. We also promote the economies of member ECOWAS states,” he said.

    FATF Mutual Evaluation and BDCs’Preparations 

    Gwadabe disclosed that ahead of the FATF Team visit, the ABCON, in collaboration with the Central Bank of Nigeria (CBN), is organising a sensitisation workshop for over 4,500 licensed BDCs in Nigeria. The workshop will hold in the six geo-political zones.

    He said as the global body that sets standard for AML/CFT efforts, the FATF team will assess banks and other financial institutions’ compliance with the AML/CFT measures, saying like in other previous visits, the FATF team will carry out checks at the branches of selected banks and BDCs across the country, as well as the airports and land borders.

    Gwadabe said Nigeria, which has been in the forefront of mentoring other member states in the development of their AML/CFT systems, has largely addressed its action plan by enacting legislation to criminalise money laundering and terrorist financing. The country is also implementing procedures to identify and freeze terrorist assets and ensure that customer due diligence requirements apply to all financial instructions.

    BDCs’ Compliance/Digitisation of Operations

    Gwadabe said BDCs have met a number of compliance requirements specified by FATF and local regulators, saying they have conducted enhanced due diligence, a major compliance requirement on some high-risk customers. He said the collation and reporting of foreign currency transactions and suspicious transactions by BDCs are now fully automated.

    He saud ABCON had in February, launched its Live Run Automation Portal in Lagos, stating that the technology automates all BDC Operations with those of Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN), enabling improved compliance of the BDCs with set regulations.

    The platform allows BDCs send their reports online real time, thereby removing the challenge of manual rendition of reports. The project has given a favourable rating in the perception index of BDCs in Nigeria especially in the eyes of international investors.

    Gwadabe said we are in the digital age, BDC operators under his leadership are committed to staying ahead of the competition by deploying time-tested technology to deliver effective services to customers and ensure compliance. He said the Live Run portal has enhanced BDCs compliance with set regulations and promoted market integrity, pointing out that the portal has sustained transparent transactions in the BDC corridor, boosted members morale  and ensured their continuous operations.

    Continuing Anti-Money Laundering War

    Gwadabe said public institutions in ECOWAS region have suffered immensely from the corruption going on in the public and private sectors, saying  ABCON is aware of the growing concerns over illicit financial flows (IFFs) from West African economies and the need to tackle them by key stakeholders within the region.

    He acknowledged the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA’s) 2016 – 2020 Strategic Plan, which showed that the Global Financial Integrity (GFI), the World Bank, the African Development Bank (AfDB), the Africa Progress Panel and the African Union’s High Level Panel on Illicit Financial Flows from Africa all paint a grim profile of the problem.

    A joint study conducted by the GFI and the AfDB showed that between 2000 and 2009, about $30.4 billion was illicitly transferred out of Africa each year. Over a longer period of 30 years, calculated from 1980, the resource drain was between $1.2 and $1.3 trillion. Outflows from West and Central Africa stood at (37 per cent), followed by North Africa (31 per cent) and Southern Africa (27 per cent). The IFFs are derived from various predicate offences of money laundering.

    Partnerships/Capacity Building for BDCs

    ABCON, severally, organised trainings for its members, and at other times, partnered NFIU and the EFCC to build capacity for operators.

    They have educated BDC operators on how they can help in tackling money laundering, terrorist financing and the benefits of keeping records of their transactions.

    The anti-money laundering training that ABCON organised with NFIU and EFCC in Lagos was meant to familiarise BDCs with the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime.

    Speaking during the sensitisation programme against money laundering and terrorism financing campaign at MM2, Lagos, which was attended by many BDC operators, the Acting Chairman, EFCC, Ibrahim Magu, called for continuous sensitisation on issues around AML/CFT reporting to improve transparency in BDCs operations.

    He said the EFCC would continue to campaign for financial integrity and transparency in BDCs’ operations. Other stakeholders at the event also spoke on the use of BDCs for illicit political transactions, illegal border cash evacuation, reporting of suspicious transactions, fraud accounts transactions and cash dollar deposits on domiciliary accounts.

    The NFIU/EFCC/ABCON goal is to ensure that BDCs are not used to launder funds by Politically Exposed Persons (PEPs). Their target was also to upscale BDCs’ compliance with the AML/CFT for Banks and Other Financial Institutions in Nigeria, Regulations 2013.

    These capacity building workshops have helped BDCS to understand how to raise and submit both the Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) to regulators.

    Report Filling by BDCs

    ABCON has continued to ensure that BDCs file their reports as and  when due. They file reports on all transactions from N10 million for companies and N5 million for individuals. The reports are sent on weekly basis  to NFIU, CBN and EFCC.

    The BDCs also do customers Know Your Customer (KYC) and due diligence reports.

    Daily Transaction Returns (DTR) gives details of the total sales made for the day by the BDC and comes in as DTR 202, DTR 217, DTR 305 and DTR 315.

    The DTR 217 return gives the information of the customers of whom the forex was sold to. Information like, the name, the international Passport number, Bank Verification Number, address, TIN number, email address among others while DTR 305 provides details of the customers as well their destination and reason for the purchase of forex. The total amount of forex sold to them is also mentioned with the transaction date.

  • A roadmap for environment and water resources

    Lagos State Governor, Babajide Olusola Sanwo-Olu sold a dummy before a capacity crowd of family members, top technocrats, party leaders and new cabinet members who had gathered at the Adeyemi Bero Auditorium, Alausa for the swearing in of members of the state Executive Council on Tuesday, August 20. While reading out the names and portfolios of his cabinet members, he said: “Mr Tunji Bello, Commissioner for Water Resources and….. He was not allowed to  complete his sentence when the crowd went into an exclamatory ‘Haaaaa’ which was however deflated when the Governor concluded his sentence by adding “and the Environment”. The import of the remark by the crowd was not lost on many who had anticipated that a two -time commissioner for the environment, Tunji Bello might stage a return as the commissioner for the environment. What many never bargained for was that he would have an enlarged portfolio that will include water resources management.

    Before then the governor had given some inkling that with his administration, it would not be business as usual for the management of the environment as he signed his first executive order on indiscriminate refuse dumping, traffic management and public work. That singular move gave a fillip to the efforts to arrest the drift which the unresolved issue of clearing the streets and neighbourhoods of refuse has brought upon Lagos State. For all those who thought Lagos was once again returning to the notorious toga of the city of mountainous heaps of refuse, it is either you shape up or you ship out. His body language was very demonstrative that he would enforce the law as it concerns infractions which were gradually gaining a foothold in our day to day life.

    He ensured that the State Waste Management Authority (LAWMA) returned to prime position of regulator in managing generated waste in the state. The organisation aggressively resumed the clearing of refuse from the streets and the several illegal dump sites that daily assaults our faces and nostril with its oozing stench. Several of the vehicles of LAWMA which had disappeared from the streets resurfaced and were complimented by Private Sector Participants (PSP) operators. It is however expected that the Private Sector Participant (PSP) waste operators who were pivotal to the successes recorded some years ago in clearing refuse from the nooks and crannies of the state would still be central to achieving a much cleaner Lagos dream of the present administration.

    There is no doubt that the capacity of the PSP operators have been greatly diminished. One expects help to noaw come from the state government to provide capacity to the operators. Presently, what we see on the roads daily are ramshackle trucks that have seen better days. If assistance is provided and new trucks procured, it will not only improve the profitability of the PSP companies, it will also improve efficiency in terms of the volume of waste carted away from the streets and tenements. Additionally, the presence of  more street sweepers in their brightly colored uniforms on the highways is highly desirable. For now, very little of their activities are being felt on many of the roads they usually operate from before now because their numbers have reduced considerably. One recall with nostalgia, couple of years ago, when they readily complimented the cleaning efforts of the state by continually sweeping the streets and highways.

    Just as the major landfill site in the state at Olusosun may get filled up in the next four or five years but before that happens, embracing a culture of waste sorting becomes desirable. Through waste sorting, biogradeable materials are set aside and leading to waste buy back which could open new vistas of limitless economic opportunities for those in the business of waste buy back. It is a venture that needs to be encouraged wholesomely. In addition to being a profitable economic venture, it will also help reduce the volume of waste generated on a daily basis in lagos  which presently stands at 14 ,000 metric tonnes from the 10,000 metric tonnes which it was some four years ago. In several ways it would be a win-win situation for all. The economic fortune of many people would be improved. Generated waste is reduced considerably and the environment is the better for it.

    By the latest decision to expand the scope of the ministry of the environment to include water resources, the governor has positioned the ministry to go beyond mere managing the drainages in Lagos State and preventing flooding but also going a notch higher by managing all the water bodies. It would also be the responsibility of the new ministry to collaborate with the Nigerian Metrological Service. We should have no apprehensions anymore whenever NIMET issues its rainfall alert because apart from having foolproof measures in place to tackle the anticipated emergencies, the state would also monitor the five major rivers discharge into the state. The time has also come for concerted efforts to be heightened to convert all the waste water in the state into safe and usable water. The reticulation of major water network should be improved upon and ensure that mini water works that are not working at optimum capacity are improved upon. When public water supply improves with attendant reticulation, a lot of the boreholes that are springing up in many neighbourhoods and causing incalculable damages and pollution to the water bed would have no uses. It would also manage the wetlands which are some of nature’s provision of balancing the eco system.

    Several parks and gardens dot the Lagos landscape and constitutes some of the beautiful exotic spots and sights of the state. However, many of such parks can still do with additional support from corporate organisations as it was the practice couple of years back. Every yuletide period evoke beautiful memories of the Zenith Bank Park at Adeola Odeku in Victoria Island. Nothing stops several others blue chip companies taking up other similar parks which would not only project such companies favorably but would also be very good corporate social responsibility steps. n this light, the State Parks and Garden Agency must also ensure that all open spaces and set backs are beautified and secured. Part of the strategy as it was adopted before, was to make use of the good boys and girls who populate the areas close to the beautified spaces to secure them by hiring them to work on the landscape areas.

    Punitive measures should also be taken against people who cut trees indiscriminately without permit and contribute to depleting the ozone layer without planting many to replace the cut trees. For now, many believe that it is nobody’s business, if a tree is fell by an individual, after all nobody own such trees but little do they realize that a tree is a living organism and that cutting a tree is akin to killing a living soul or committing murder! Until a few people are made examples of and prosecuted, the message may not sink as desired. On a yearly basis, tree planting exercises are held with fanfare at all level of government. Much more needs to be done.  The trees planted annually should be tended and monitored so that years after, such trees can grow into adulthood. This unwholesome act if not checked would make some specie of trees become extinct .The greening of Lagos and attaining a flood free, sustainable environment is a task that must be done by every resident.

    • Adeshina is Director( Public Affairs), Ministry of The Environment and Water Resources, Lagos State.

  • Pension complaints and solutions

    Okoroafor: I am Mrs. Okoroafor. My late husband Mr Okoroafor was with Stanbic IBTC Pension. His last work place, before he passed away on June 22, 2013, was the Nigeria Immigration Service (NIS) headquarters, Abuja. We have done everything possible, but have not received any payment in the last five years since his death. The details are attached2

    STANBIC IBTC PENSION: With regards to your enquiry on the payment of the late Mr Okoroafor‘s benefits, we would like to clarify the following: That a prerequisite for processing payments due to public sector employees (retired/deceased) is the remittance of the accrued pension benefits attributed to such employees by the National Pension Commission (PenCom) as well as the reconciliation of their Retirement Savings Account (RSA). That the late Mr Okoroafor worked with the Nigerian Immigration Service prior to his demise, hence, a request was made by Stanbic IBTC Pension Managers Limited to the National Pension Commission (PenCom) for the remittance of his accrued pension benefits and the reconciliation of his RSA upon submission of the notification documents by his beneficiary.

    Upon receipt of the deceased’s benefits from PenCom, efforts were made to contact the beneficiary, Mrs Okoroafor, via her mobile number on our database without success. At the moment, we are yet to receive the death benefits application documents from the beneficiary to enable us seek payment approval from PenCom.

    We request that you kindly assist in informing Mrs Okoroafor to visit the nearest Stanbic IBTC Pension office to submit the documents listed on the attached checklist to apply for payment.

    OYEKALE: I registered with Stanbic IBTC Pension, but my money is going to ARM Pension Manager, which I did not register with. My request is that they should transfer my money with interest to Stanbic IBTC.

    PENCOM: Please visit your PFA to undergo data recapturing to solve this issue.

    MRS OGENE: My name is Mrs Bridget, wife and next-of-kin to the late Ogene, who died on September 15, 2011. Until his death, he served in the Federal Ministry of Lands, Housing and Urban Development, Mabushi, Abuja for 28 years. Till date, the group life insurance has not been paid. I was directed to the Head of Service for payment and all required documents were submitted. Whenever I called, I was told that the government has not released money for payment. Many files have been approved for payment at each PFA and my name is not among them. I have been waiting since 2011. Kindly help me.

    PENCOM: Please contact the office of the Head of Service for payment of your late husband’s Group Life.

    EKELEME: I work with the University of Nigeria, Nsukka and I registered with First Guarantee Pension. I have not received any update on my pension since 2013. Please what can I do? Their website is not too good. Thanks.

    PENCOM: Please contact the nearest First Guarantee Pension office (PFA) to you and notify them of this. They can be reached on 012715505.

    REUBEN: I was promoted to the rank of Assistant Superintendent of Police (ASP) after the pension verification on July 20, 2017.  I sent my  evidence of promotion dated  December 15,  2017 after the verification through Southsouth Zonal Office of  your commission in Calabar, Cross-River State. But I was paid below my grade and step. What can I do?

    PENCOM: Please we would require your PIN in order for us to assist you further.

    OLAYORI: My name is Olayori Oladapo Fasiu. I am a retiree of the National Assembly Commission.  I worked as a Legislative Aide to a former Senator. We left the National Assembly in 2011 and I have been collecting N7872.87 monthly as pension. However, since last November, the payment has stopped. My pension company is IEI Anchor Pensions. It would be appreciated if you could assist to find out why the payment was stopped. Thank you for your anticipated cooperation.

    PENCOM: Please we would require your PIN in order for us to assist you further.

    ABDULSALAM: My name is Abdulsalam, a staff member of Yaba Local Council Development Area (LCDA). I have been with Stanbic IBTC PFA since its inception but just this month my pension fund was transferred to Leadway Pension without my authorisation. Please what can I do because I want IBTC as pension manager.

    PENCOM: Please visit your PFA to undergo data recapturing to solve this issue.

     FATIMEHIN: My name is Fatimehin. I am the next-of-kin to the late Mrs fatimehin. She passed away on July 10, 2014. She was a staff member of Federal Polytechnic, Offa. Her PFA is Leadway Pensure in which little amount of money was paid in May 2017 and since then, nothing has been paid again. All the documents requested have been submitted.

    PENCOM: Please note that the Accrued Right was paid under Deceased Batch No. 47 in May 2017. You may please contact your PFA.

  • Agric Summit: Positioning Nigeria to feed Africa

    The Agricultural Summit fits into the African Union’s goal to drive Intra-African trade enunciated in the African Continental Free Trade Agreement (AfCFTA), reports Daniel Essiet

    The oft-repeated declaration that Nigeria is the giant of Africa is mainly due to its abundant human and natural resources. Indeed, the country is so blessed with vast arable land to the extent that experts have regularly expressed the view that Nigeria has the potential to feed its teeming population and the rest of Africa if the agriculture sector is properly harnessed.

    Nonetheless, the potential of the agriculture sector has remained largely untapped despite its capacity for employment generation, food security and poverty reduction in the country. But there is hope that the drive to achieve a hunger-free Nigeria remains a feasible one.

    Sterling Bank has taken up the challenge of addressing issues preventing the agriculture sector from attaining its full potential through Agriculture Summit Africa holding in Abuja, from the 5th to 6th of September 2019.

    The theme of the continental summit which seeks to transform Nigeria into a global leader in food production, processing and marketing is “Agriculture – Your Piece of The Trillion-Dollar Economy”.

    A timely initiative,  the continental summit is convened to address the future of agriculture in Nigeria and Africa at a point the continent is becoming a single market with over 1.2 billion people through the Continental Free Trade Area (AfCFTA) treaty.

    Addressing the media in Lagos on Agriculture Summit Africa which will bring together policy makers, development agencies, international finance institutions and value chain players on the continent, Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank, said it will address the issues preventing the very important sector from attaining its potential because food security on the continent has become a critical issue.

    Odubiyi disclosed agrarian land are becoming increasingly desolate in the face of climate change and rapid population growth making food security a big challenge. Using Nigeria with population estimated at 200 million as an example, he emphasized Africa’s food security challenge by pointing out that the country’s annual population growth rate of 3 percent outstrips economic growth rate at less than 3 percent.

    “Agriculture is the focus of the government of the day in Nigeria, and it is one that has been well chosen. It will be difficult to stabilise the country until the food security challenge is addressed, and we very much appreciate the initiatives of all stakeholders addressing this same issue. We are very happy to make this our contribution to that effort. Agriculture Summit Africa will address food security and the other big problem which is job creation for young people. We all know the capacity to generate jobs that agriculture has and we believe that by supporting the sector, we will be contributing a great deal to solving the unemployment problem in Nigeria”, Odubiyi remarked.

    He added that his bank is in a unique position because of the H.E.A.R.T of Sterling Project which makes agriculture the centerpiece of its specialised focused sectors in Nigeria. “We have over the last nine years developed the leading agriculture finance business in Nigeria with about 10 per cent of our loan book in the sector. And that preceded the government policy on lending to the agriculture sector. We also are aware of Continental Free Trade Area (AfCFTA) treaty which took Nigeria some time to endorse.

    “From a market of about 200 million, we suddenly face a potential market of 1.2 billion people if we know what we are doing as a country. We can export agricultural products to other African countries, not just to Europe and that’s what getting a piece of Africa’s $1 trillion agribusiness economy is all about. Working with all other stakeholders, Sterling can help build farming businesses from small land holders to very large, sophisticated operations that help enhance food security in Nigeria.”

    The bank’s pedigree in agriculture financing is impeccable. It is oneof the first commercial banks in the country to participate in the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers Programme (ABP) for smallholder farmers in Kebbi, Sokoto, Zamfara, Kaduna, Ogun and Oyo states in partnership with development financial institutions such as DFID-PropCom and DFID-MADE. Sterling Bank is deeply involved in the funding of vital agricultural projects across the country.

    Also speaking, Bukola Awosanya, Group Head, Agriculture and Export, Sterling Bank, explained that the first agriculture summit organised by the bank last year brought together smallholder farmers, input suppliers, agro-processing entrepreneurs, development finance agencies, policy makers and captains of industry in Abuja. According to her, the 2018 summit focused on co-creating a sustainable Nigerian economy through rural agricultural enterprise.

    “This year, we have raised the bar by unveiling the Agriculture Summit Africa, which is a more ambitious attempt at addressing issues preventing agribusiness in Africa from attaining their full potential,” she said. She added that it should surprise no one that Sterling Bank and its partners are leading the charge to address the issues facing agribusiness on the continent.

    She said Sterling Bank has helped a lot in developing the country’s agriculture value chain, adding the bank is a thought leader and the preferred lender for smallholder farmers, agribusinesses, input suppliers and other players in the local agricultural value chain.

    “We are quite proud of our huge intervention in the agriculture value chain which is creating food security, stimulating job creation, while also enhancing the income of farmers in agrarian such as states Kebbi, Sokoto, Zamfara, Kaduna, Bauchi, Ogun, Imo andFCT Abuja, among others.”