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Tag: pass

  • CIBN to Senate: pass Financial System Strategy 2020 Bill

    The Chartered Institute of Bankers of Nigeria (CBN) has called on the Senate to urgently pass the Financial System Strategy (FSS 2020) Bill into law. The passage of the bill, it said, would promote financial inclusion and strengthen electronic payments.

    The CIBN President/Chairman of Council, Segun Ajibola, made the demand during a visit by the CIBN team to the Senate President, Bukola Saraki at the National Assembly Complex, Abuja.

    The Institute, Ajibola added, has also worked closely with the Central Bank of Nigeria (CBN) in carrying out a national survey on the possible adoption of cryptocurrency (particularly Bitcoin) as a legal medium of exchange in the country.

    Ajibola explained that the quick passage of Nigeria International Financial Centre Bill, Financial Consumer Protection Bill, and the Electronic Transactions Bill are critical to the implementation of FSS2020.

    While appreciating the level of work done by the Senate, including the passage of the Collateral Securities Bill into law and review of about 50 existing extant laws.

    He thanked the Senate President for the leadership in getting the eight Assembly to pass legislation that has positively impacted on the financial sector. This, Ajibola said, has in no small measure enhanced the recovery and resilience of Nigeria’s economy.

    He also praised the legislation establishing the Collateral Registry Bill that has provided an enhanced environment for Micro Small and Medium Enterprises (MSMEs) to access credit.

    He also disclosed that the CIBN will be approaching the NASS to amend its extant law, The Chartered Institute of Bankers of Nigeria Act No. 5 of 2007 in order to further strengthen its capacity to deliver on its statutory mandate.

    In his response, Saraki said the Senate under his leadership has passed several Bills that are geared towards strengthening the financial sector for the overall growth of the economy.

    He said that Nigeria has demographics that highlight more than 70 per cent of the population is in the youth bracket which is an asset to the nation if properly utilized so that it does not become a liability.

  • This too shall pass

    It is no longer news that Nigeria is in a recession. What should be paramount now is how to get us out of it. That, we have been told, will be this quarter, which is July to September. With July ending on Sunday, that means we have two months left to ensure that the recession does not drag further. If it extends beyond this quartet to the next, we may be heading for another thing entirely, but certainly not depression, which name alone connotes fear.

    Last week’s confirmation by the Minister of Finance, Mrs Kemi Adeosun, that the nation is in a recession caught many off guard. Though we have known for long that things are not economically okay with the country, we did not know that they were of recessional proportion. A recession is not something to be afraid of because countries do get in and out of it, where properly managed. We can also get out of this recession, if we do the right things. Here is where the government should take the lead.

    Adeosun has assured us that we have nothing to fear. Again, I want to believe her, but all the same the people are still afraid. Reason : they have never before been confronted like this with the hard fact of a recession. Many are still wondering what she meant by a recession. ‘’Does it mean that the economy is dead?’’ ‘’How will we manage under this situation?’’ Will we still be able to afford the basic necessities of life?’’ ‘’Can we believe the government that things will change for the better soon?’’ These are some of the questions many Nigerians who are afraid of these times are asking. These are indeed trying times, which require the thick-skinned to survive.

    Having endured terrible economic times in the past, we cannot blame our people if they feel that they are still being asked to show more understanding before things get better. When will that be, they are wont to ask. Many find it hard to trust the government and you cannot blame them. They have been asked often times to tighten their belts, which they did, but those who made that request never practised what they preached. They slackened their own belts to acquire more from our commonwealth, while we, the people, languished in penury.

    This recession is all about tightening our belts until things improve in the third quarter. The improvement will be hinged on how well Adeosun and her Budget and Planning counterpart Senator Udoma Udo Udoma handle the economy. The prospects, according to Adeosun, are bright. Hear her : ‘’We are not the only country in a recession; many countries are doing far worse than us. But for Nigeria, what Nigerians want to know is ‘how’s that going to affect me’ and I want to assure everybody that what we are doing is going to work and it’s going to turn this economy around’’.

    How will this recession affect Nigerians? I expected Mrs Adeosun to dwell more on that when she appeared before the Senate last Thursday. But, she did not; she just mentioned it in passing. The only way Nigerians will make sacrifice during this recession is if they know how it will affect them. I had expected the minister to break it down in terms of naira and kobo so that we will know what we are facing. It is not the Buhari administration’s fault that we have found ourselves in the position we are economically today. It is, however, his administration’s lot to get us out of our economic mess.

    It is the cumulative effect of  past misdeeds that led to the two negative quarters growth we experienced between January and last month. It is soothing that Adeosun and Udoma are assuring the public that with what the government is doing we would soon be out of the woods. The government must work assiduously towards that because most of what we are going through today were brought about by some policies, whether made now or in the past. According to economists, high lending rates which reduce borrowing and investment, falling wages, falling consumer confidence, credit crunch, inflation and appreciation in exchange rate are some of the causes of recession.

    We cannot gloss over the fact that for quite sometime, the lending rates have been so high that businesses are complaining. Salaries too have become irregular. In some cases, workers go without pay for months and when they eventually get paid their purchasing power is reduced because of the enormous debts hanging over their heads. Banks are facing liquidity crunch, making it difficult for them to perform their roles as lenders. There are many medium/small scale enterprises that require loans to push their businesses, but they cannot get credit facility because the banks are going through hard times. What do we have to say about the exchange rate, with the naira selling for over N300 to the dollar at the official market.  We can go on and on. The brunt of the matter is that Nigerians are suffering.

    Even before the national recession set in, the personal economies of many have been in a recession, making  life harsh, brutish and short. Some have died from inability to pay hospital bills of as low as N500; some cannot afford to pay house rent or their children’s school fees; some have resorted to begging with their babies to make ends meet, yet they have continued to endure with the belief that tomorrow go better, to borrow a local slang. Yes,  this (recession) too shall pass, but by then, we pray that many of us would not be in the grave.

    The Central Bank of Nigeria (CBN) may have set the ball rolling in getting us out of recession, by raising the interest rate from 12 per cent to 14 per cent after its Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. Banks have been cheating depositors for long, paying them little or no interests on their savings, while they charge very high lending rates. The nation may have found itself in a recession today because of the activities of these banks. It is heartening that for once, the CBN is acting like a true regulator. If only it had acted like this before now, we may not be where we are today.

    It is never too late to do the right thing. If the CBN is canvassing pro-people policies today, it is a sign of good things to come and that sooner than later, we will not be talking of recession but of a swinging economy.

  • Will Saraki pass this test?

    Another opportunity has presented itself for Senate President Senator Bukola Saraki to make amends and respect President Muhammadu Buhari’s wish and that of their party, the All Progressives Congress (APC).

    Towards bringing the desired change and moving the nation forward, President Buhari has submitted the first batch of 21 names of ministerial nominees to the Senate.

    The screening of the first batch of nominees is expected to begin at the red-carpet chamber headed by Saraki today.

    Two previous wishes of the party did not see the light of day in the 8th Senate.

    The first was the ‘James Bond’ style adopted by Saraki to emerge the Senate President in June against the wish of his party.

    His party then had wanted Senator Ahmed Lawan to emerge the Senate President.

    But with the support of the senators of the opposition party, Peoples Democratic Party (PDP), the wish of APC was truncated in June in the Senate, which paved way for PDP to also produce the Deputy Senate President in the person of Ike Ekweremadu.

    As if that was not enough, the second wish of the APC was also blocked after Saraki emerged the Senate President.

    The APC’s candidates for the principal offices in the Senate did not get the positions.

    The Senate, under Saraki, rather settled for other candidates different from the wish of his party.

    Reflecting on practices under Saraki’s predecessor, Senator David Mark of the PDP, he did not fail at anytime to protect the interest of his party in such past elections and appointments.

    Some ministerial nominees, who were seen as less qualified for the job in some quarters, eventually got the Senate confirmation then.

    With due respect to the immediate past Minister of Women Affairs, Zainab Maina, the roles she had previously played in the PDP mainly paved the way for her to be a Minister of the Federal Republic of Nigeria.

    In the past two weeks, Saraki, no doubt, has been romancing with the number one and number two citizens of this country.

    His presence has been more felt in the last fourteen days in the Presidential Villa than all the past months of his tenure as Senate President.

    Nigerians, for the first time, had the honour of seeing Saraki attend an official function of Nigeria’s 55th independence anniversary celebration at the Presidential Villa on 1st of October.

    On the same day, he visited the seat of power the second time by having a private meeting with Vice President Yemi Osinbajo in his office after the ceremony.

    To mend the fences further, Saraki for the first time also led principal officers of the Senate along with Speaker of the House of Representatives, Yakubu Dogara and House leadership for a meeting with President Buhari at the Presidential Villa last Wednesday night.

    It is hoped that all these new moves will be in the short and long term interest of the party in power and the nation.

    A test case for Saraki to prove his new love for his party is the screening of ministerial nominees scheduled to start today.

    Supporting his party will not necessarily mean working against the progress of his country.

    Given that the nominees are qualified for the ministerial job, the ball is now in Saraki’s court to ensure level playing ground for all the nominees and also prevent unnecessary politics on the floor of the Senate to discredit anyone of them.

    The focus should be on whether they have what it takes to bring about the desired CHANGE of the APC for the development and benefit of Nigerians.

    Saraki cannot afford to fail his party and the nation this time around.

  • Ekong happy to pass Super Eagles tests

    Ekong happy to pass Super Eagles tests

    FK Haugesund defender William Troost – Ekong is on his way to Norway to link up with his Tippeligaen club after international duty with Nigeria.

    Once again, the former Holland youth international passed his tests with the national team with flying colours, with the 2013 African champs not conceding a single goal since he made his international debut against Chad in June.

    “On my way back to my club. Great to get a 2-0 win yesterday (Tuesday) against Niger. Wish all my brothers safe journey back @NGSuperEagles,” said Troost – Ekong on social media.

    “It was amazing to meet @papilokanu yesterday after the game. One of my childhood idols. #footballlegend #Arsenal.”

    Ekong, who celebrated his 22nd birthday on September 1, has racked up 190 minutes of game time for the Super Eagles.

  • Pass Traditional Medicine Bill, expert pleads

    Pass Traditional Medicine Bill, expert pleads

    The passage of theTraditional Medicine (TM) Bill will help practitioners and also rescue the sector from quacks, a Professor of Ophthalmology, Mrs Olubukola Adefule-Ositelu, has said.

    She said modern medicine is  short of new treatments. “And it takes years for a new drug to get through the research and development pipeline to manufacture and the cost is enormous. And growing drug resistance, in part caused by the misuse of medications, has rendered several drugs such as antibiotics and other life-saving drugs useless. Both these trends mean that scientists and pharmaceutical companies are urgently looking for new drug sources and are increasingly turning their eyes to traditional medicine,” she said.

    The professor of Ophthalmology who uses bitter cola (garcinia cola) to treat glaucoma said integrating traditional medicine into modern healthcare should be taken seriously by the administration of the President-elect, Gen Muhammadu Buhari.

    The in-coming administration, she said, should endeavour to pass the TM Bill into law, to regulate the practice, adding: “Because the lack of regulation means there are just as many fake remedies and false practitioners as there are genuine treatments. And that can have fatal results. For example, last year, two people died and nine were hospitalised after taking fake anti-diabetic traditional medicine, used to lower blood sugar, in the Xinjiang Uygur Autonomous Region in China.

    “We that know our right hand from the left have come under an umbrella- National Experts Committee on Research and Development in Natural Medicine (NECRADMN), initiated by the late Prof Yemisi Akin-Adewo, chaired later by Otunba Olajuwon Okubena and now my person. This is because for most of the past decade, the World Health Organisation (WHO) has been working to develop international guidelines and technical standards to help countries formulate policy and regulations to control traditional medicines.

    “NECRADMN is collaborating with National Association of Nigerian  Traditional Medicine Practitioners (NANTMP), National Agency for Food Drug Administration and Control (NAFDAC), Nigerian National Medicine Development Agency (NNMDA), National Association of Complementary and Alternative Medicine Association (NACAMA), Research Institute of traditional and Alternative Medicine (RITAM), Nigeria Institute of Medical Research (NIMR), National Institute of Pharmaceutical Research and development  (NIPRID), Lagos State Tradional Medicine Board (LSTMB) and various agencies and departments to push for the standardisation of the practice. It is time for the emerging government to Implement Traditional Medicine Policy prepared in 2007 with technical assistance of the World Health Organisation (WHO). With that everything will fall in place and the National Health Bill of 2014 can be effectively implemented. Nigeria has rich fauna and flora that can become breakthroughs for the pharmaceutical industry, just as in other lands.

    Mrs Adefule-Ositelu continued: “A few major triumphs have stoked interest in traditional medicine as a source for highly successful and lucrative drugs. The best known of these is artemisinin used to treat malaria. Artemisinin is traditional medicine’s blockbluster drug. Artemisinin, which is extracted from Artemisia annua or Chinese sweet wormwood, is the basis for the most effective malaria drugs the world has ever seen. Western researchers first became aware of the compound in the 1980s, though it had long been used in China to treat malaria. But it wasn’t until 2004 that the World Health Organisation (WHO) endorsed its use worldwide. Much of this delay was because of the skepticism about the drug, and different research groups spent years validating the claims of Chinese traditional healers.

    “Artemisinin is proving useful against other diseases too and has been shown to have great potential in treating cancers and schistosomiasis. Across the globe, researchers, policymakers, pharmaceutical companies and traditional healers are joining forces to bring TM into the 21st century. In some ways, it is already here in Nigeria. Nearly a quarter of all modern medicines are derived from natural products, many of which were first used in traditional remedies.”

    The passage of the Bill will also encourage traditional practitioners to release their preparations for clinical trials, so the issue of protection and piracy would be addressed.

    She said: “One of the most striking differences between traditional and modern medicines is the legal protection given to knowledge. Traditional practitioners have historically shared their knowledge and experience freely. Modern medicine, on the other hand, has stringent intellectual property laws and a highly evolved patenting system used to protect knowledge about drugs or medical techniques. As Western researchers realise the wealth of knowledge stored in traditional medicine systems, and the need for new drugs becomes more urgent, many scientists have begun searching indigenous sources for new drugs: a term dubbed ‘bioprospecting’. In some cases, researchers have sought patent protection for medicinal compounds that had already been used for centuries to treat disease. An example is the 1995 patent on an anti-fungal neem derivative commonly used in Indian traditional remedies. The European Patent Office (EPO) granted a patent to the US Department of Agriculture (USDA) and the multinational WR Grace and Company. The Indian government convinced the EPO to revoke the patent on the basis of prior use, but it took five years and millions of dollars. This plundering of freely available indigenous resources has been termed ‘biopiracy’ and is a strong example of the challenges facing efforts to take traditional medicine mainstream. Many other countries have, or are considering establishing, similar databases to protect their local resources, including China, Ghana, Malaysia, Nigeria, South Africa, Tanzania, Thailand and some nations in the Middle East.”

    Mrs Adefule-Ositelu added: “NECRADMN is full of people that know that onions, hence it is forging unity among practitioners; has done researches widely in the tertiary institutions on Nigerian natural vegetations. A lot has been done per products formulation, but mainly for promotion exercises, so I will suggest manufacturers should be approached and the products collated for clinical evaluations for their efficacies.

    “That effort will lead to an enormous bank of herbal remedies that can promote traditional medicine in the management of various ailments in the country, and boost FOREX. Such will enhance economic growth in this sector; will reduce quackery and fake productions; it will meet the needs of our people; encourage more traditional medicine practitioners to release their preparations for clinical trials as the Passed Bill now guarantees their intellectual property (IP).”

    She said if the passed, the new government would fund traditional medicine,  promote research in cancer, HIV/AIDS, diabetes mellitus, hypertension and asthma, among others. It would also establish training institutions, model clinics in local governments, collaborate with health research institutes and universities,  international organisations, encourage the establishment of a regulatory body for practitioners and strengthen ties between traditional and conventional health practitioners to avoid stifle.

    “Promote and encourage the establishment of regulatory body for practitioners of Natural medicine, she added.

  • You can pass on your message without going nude —Nollywood actress Mimi Orjiekwe

    You can pass on your message without going nude —Nollywood actress Mimi Orjiekwe

    WHAT was growing up like for you? I grew up like every other girl; it wasn’t bad. Things were good though I didn’t have everything I wanted but it was good. Being the only daughter, I always got attention from my parents and they pampered me a lot too.

    Did you feel bad sometimes when you didn’t get some of the things you wanted?

    It wasn’t that I didn’t get what I wanted; being the only girl child, I got much attention especially from my dad and my mum too. I felt like a normal child growing up with her parents.

    Can you recall any memorable moment in your childhood?

    What I can vividly recall was my time at the boarding house; my parents were not living together at the time and I always find a way of reuniting them at school on visiting days. I used to get loads of provisions in school way back then. I was in my teen’s way back then and that’s a time in my life I memorably recall.

    How did you cope without your parents when you are in school?

    I had too as a boarder; I had to go through the process and when it was time for holidays I always relish the opportunity to be home. Even when I was in the university, I lived in the campus. I have been living with my mum ever since I graduated from school and I am mostly here in Lagos or in the east when I am needed on set.

    Who are your role models?

    I have always admired Angelina Jolie and the role she played in the movie titled Tomb Raider. I love action films; I also love Halle Berry and the sexiness she brings to acting. I also love Genevieve Nnaji and her mode of delivery. I am also in love with the world of beauty pageantry. I have been part of some beauty pageant competitions in the past.

    At what age were you really conscious of the fact that you could run for beauty contests?

    While I was in school I awas always conscious of myself and I emerged the winner of the Miss Business Administration beauty contest back in the university. I had always had the hunch that I would end up being part of one beauty contest or the other when growing up as a young girl. I also have the height for such contests and that factor is very important when it comes to beauty contests. My passion was further fuelled when I was discovered by a certain agent who works for a modeling agency and I took part in the Miss Anambra beauty contest and I emerged the 3rd runner up. At the same time, my venture into beauty contests also opened doors on the movie scene as I got my first movie role after I was discovered at a beauty contest.

    How were you able to handle the attention you got from men when you were still neck deep in partaking in beauty contests?

    I never really allowed the attention get into my head because I had someone managing me then. I was just focused on getting the best out of each contest and I took all compliments in good faith. I also tried to treat everyone I came across as a friend with no strings attached.

    Are you into show business for the fame, money or fulfillment?

    I have always had a flair for entertainment and I think it was natural that I gravitated towards that point. I am not in it for the money but I need the money anyway because there is money to be made and I need to pay my bills. I love the world of entertainment and I am open to growth and getting more knowledgeable in the business.

    When did you get your break on the movie scene?

    I have done series of movies and the first major on I was part of was Royal Madness. I was in that movie with Majid Michelle and Van Vicker. It was the first time I worked with them. It was a challenging movie and it brought out the best in me. The movie is quite popular and most people don’t even know that I was part of the movie.

    How were you able to contain the excitement of working with Majid and Van Vicker on the set of Royal Madness?

    They are good people and at a point Van Vicker was acting like a Chinese. Jim Iyke was also on set too and you can imagine the sight on the set of the movie. It was fun and interesting on the set of Royal Madness.

    What is the biggest movie project that you have been part of?

    My biggest movie project is not out yet because it was shot recently and it took close to a month to shoot the movie in Ghana. It will be in the market very soon; it was directed by a different person entirely and it opened my eyes to so many things as a burgeoning actress.

    How did you get the role for the movie?

    I was in Ghana to shoot a different film and I ran into the director of the movie and I got to understand that his name is Sallam Bello and he is one of the biggest marketers in Ghana. He invited me over telling me he wanted me to be part of a movie production and that was it. I didn’t plan to be part of the movie and it turned out to be one of the biggest projects that I have been part of in recent times.

    How long have you been acting?

    I have been acting ever since I have been part of partaking in beauty contests. I took part in my first movie in 2008 but officially I have over a year of experience in acting.

    How versatile do you think you are as an actress?

    I can do so many things…Paramount of which is the ability for me to interprete my roles as an actress. You need to give your best when you are called upon to deliver your lines.

    What can you do on set of a movie?

    You have to be specific; like I said I can do so many things.

    What are your strengths?

    Personally, I think my strength as an actress is my ability to deliver and the fact that I have a friendly outlook. I also have the talent and that keeps me going.

    Have you noticed any weakness you have as an actress?

    I think I need to be more professional in what I do; I also think I need to be more determined and hardworking. I also need to give my very best whenever I am on set.

    What other talents do you have?

    I think I can do averagely well in every artistic work that I can think of. I can dance; I can sing that I know because I have good vocals. I am stylish and I can tell you what looks good on you.

    Have you ever been harassed sexually?

    I relate with people the way they should be handled and that to an extent also determines how people relate with you too. I have never been sexually harassed but I hear stories about people being sexually harassed. I have got advances but I have handled them maturely. It is a give or take affair because no one can force you to do what you don’t want to do. It has never stopped me from giving my best on set and ultimately trying to get more movie roles. The fear of sexual harassment has not diminished my drive. I still have a lot to accomplish and that cannot hold me back.

    Can you act nude?

    No!

    What if you were handed an irresistible offer, would you still go nude?

    I can’t act nude; I can’t do it for any amount because I don’t have any reason to do that. I believe you can pass on your message without necessarily going nude.

    But most actresses on the scene today seem to bare it all to get attention?

    I don’t believe exposing all will get you to the top; for me, sex doesn’t sell.

    Are you in any relationship at the moment?

    I’d like to keep that part of me private.

    What about getting married?

    Of course I am going to get married and have kids; I want to have beautiful kids so I intend to marry a cute guy.

    When do you think the wedding bells would ring?

    I don’t know; in God’s time I think.

    Is acting worth the stress?

    It is worth the trial; it pays my bills. You will reap what you sow in the long run and in everything you do; you need to sacrifice to get the best. I just have to work hard and be determined and with strong will I know I will definitely make it to the top in the end.

    What lessons has life taught you thus far?

    Life is hard; one has to be strong, eat well and pray well to get to your destination point.

    What would make you not accept a movie script?

    I would reject a script if I do not like the script; I would reject the script if it is not original too. Most movies produced today are fictional and I would not accept a script if is haphazardly done and if it does not pass on a positive message.

    What kind of movie production excites you?

    I would definitely like to be part of an action movie that’s why I really like Angelina Jolie for the action role she plays in most of her movie especially Tomb Raider and Mr. and Mrs. I’d like to work with her someday if that is possible. I am going to part of an action film too and it will be out very soon.

    Do you see yourself evolving into a movie producer like most of your colleagues in the movie industry?

    Yes I have that in mind; I want to own a production studio and I also hope to learn more about moviemaking and possibly get a degree in filmmaking in the future. I just don’t want to stop at being an actress I want to learn more and earn more money from the movie industry.