Connect with us


Only one functional ATM at Lagos Trade Fair



Long queues at Lagos Trade fair as only one ATM functional

Long queues at Lagos Trade fair as only one ATM functional

By- Oluwafunke Ishola/Taiye Baiyerohi

Only one Automated Teller Machine (ATM) is functioning at the ongoing 2018 Lagos International Trade Fair, reports the News Agency of Nigeria (NAN).

NAN reports that besides the functioning Fidelity Bank ATM, a First Bank mobile ATM van at the fair ground was yet to commence operation.

There was a long queue of bank customers at the only functioning ATM as customers complained about the inadequate number of financial institutions on ground.

Other bank and insurance companies that have erected stands at the fair were Nigerian Export-Import Bank (NEXIM), LAPO Microfinance Bank, Nigeria Deposit Insurance Corporation, Leadway Insurance and Staco Insurance.

Mr Gabriel Idahosa, Chairman, Trade Promotion Board of the Lagos Chamber of Commerce and Industry (LCCI), said that more banks would commence operation by Monday to facilitate seamless business activities at the fair.

He said that some of the banks were conducting installation of their computer systems and ATMs to meet the needs of exhibitors and visitors during the 10-day of the event.

NAN reports that the annual fair, organised by LCCI, began on Nov. 2 and will end on Nov. 11.

Facebook Comments
Continue Reading
Click to comment


New minimum wage goes to National Council of State for discussion



Chris Ngige

Chris Ngige

The Minister of Labour and Employment, Dr Chris Ngige, says the proposed new National Minimum Wage will be presented to the National Council of State on Jan. 22.

Ngige disclosed this while speaking with State House correspondents after the National Economic Council meeting presided over by Vice President Yemi Osinbajo, at the Presidential Villa, Abuja on Thursday.

The minister said work was still ongoing on the figure, frequency of review, those to be exempted and everything about the bill before it would be ready for transmission to the National Assembly.

“The information minister told you the other day after the Federal Executive Council meeting that we are taking our deliberations to the National Economic Council and then we close up on the 22nd (Jan. 22) at the National Council of State.

“After that, we will be able to say where we are going.

“It is not a question of governors saying they cannot pay N30, 000, discussions are still ongoing and will terminate on 22nd when we meet with the National Council of State.

“Governors are part of Nigeria and they are part of the government’s side of the public sector; so do not disengage them or dis-articulate them from the Federal Government.

“The public is the Federal Government and the state government, and even the local government,’’ Ngige said.

The minister, however, said that the plan was to transmit the National Minimum Wage Bill to the National Assembly on or before Jan. 23 in consonance with the agreement with labour.

On his part, Gov. Atiku Bagudu of Kebbi State, said that the governors were after a National Minimum Wage legislation that “could work.’’

Facebook Comments
Continue Reading


CBN spurs access to banking services



CBN Governor, Godwin Emefiele

CBN Governor, Godwin Emefiele

The Central Bank of Nigeria (CBN) has rolled out measures to ensure that at least 80 per cent of Nigerians have access to banking and other financial services.

The apex bank also on Thursday released new policy frameworks on consumer protection, financial literacy and financial education.

The bank unveiled measures in the National Financial Inclusion Strategy released inb Abuja.

Mrs Aisha Ahmad, the CBN Deputy Governor on Financial System Stability, made the presentation at the National Financial Literacy Stakeholders’ Conference in Abuja.

“Adequate consumer protection is critical to sustaining the long term viability of the financial sector because consumer protection is a necessary precursor to building and maintaining trust in the formal financial sector.

“An essential pillar of any consumer protection regime is consumer education, which is founded on financial literacy.

“The benefits of a financially literate population are immense. Consumers are better equipped to make optimal choices in the use of financial products, pose lower credit and default risk.

“In addition constitute a market for sustainable financial services and promote Financial System Stability by increasing market demand and responsible use of financial services,” she said.

Ahmad said the CBN recently introduced regulations and guidelines for the licensing and operations of Payment Service Banks in furtherance of its efforts to leverage technology to enhance access to financial services for the unbanked.

She said the move was expected to drive down exclusion rates by leveraging wider variety of multiple channels to enhance access to deposit products, payments and remittance services to small businesses and low income households.

Meanwhile, the Director, Consumer Protection Department, CBN, Mr Kofo Salam-Alada, harped on the importance of promoting sound financial system in the country to ensure that consumers continue to have confidence in the sector.

“As we seek to boost the number of consumers in the financial industry through the Financial Inclusion Strategy, it is important that we establish policies, structures and programmes that would engender confidence among the general public.

“This is even more imperative considering the fact that we are only just recovering from a financial crisis that brought the financial system on the brink of collapse.

“All the efforts at strengthening the financial system would be fruitless if there are no concerted efforts to restore trust and confidence among consumers,” he said.

Salam-Alada revealed that since the consumer protection department was set up, it had successfully recovered more than N68 billion in favour of customers who have been shortchanged by their banks.

Also, the Managing Director, Jaiz Bank, Mr Hassan Usman said that the bank was committed to deepening financial services in the country through its non-interest banking strategy.

He said that the bank was currently engaging with women entrepreneurs in rural areas and giving them small loans to grow their businesses while encouraging them to open accounts.

According to him, the aim is to expose them to bank facilities that will grow their businesses in the near future.

The newly released National Financial Inclusion Strategy proposes roles and responsibilities for key stakeholders in the financial sector to reduce financial exclusion rate from the present 36.8 per cent to 20 per cent by 2020.

The key stakeholders are the Federal Government, the Deposit Money Bank’s, Development Finance Institutions, National Insurance Commission, National Pension Commission, National Communication Commission and Nigeria Postal Service among others.

The priority areas identified for the success of the strategy includes “Tiered Know-Your-Customer” regulations, agent banking regulations, national financial literacy strategy and consumer protection.

Facebook Comments
Continue Reading


Northern Investment Companies, Perform Bellow Expectations- Sanusi II



Emir of Kano, Malam Muhammad Sanusi II

Emir of Kano, Malam Muhammad Sanusi II

By Yakubu Salisu, Kano

The Emir of Kano, Muhammad Sanusi II, has decried the inability of state owned Northern Investment Companies to meet up with the purpose for which they were set up for.

Sanusi made the remarks yesterday, (Wednesday) in Kano during the maiden conference of state-owned Investment Companies of Northern Nigeria, organized by Kano State Investment and Properties Limited (KSIP).

The Emir, represented by the Dan-Adalan Kano, Isyaku Umar Tofa, said it is sad to note that, the Kano Investment Company which was the key element in the movement of the economy of the state in the past has been crippled by avoidable circumstances due to failure on the part of stakeholders to do the needful in order to salvage the situation

According To him, the Company inherited quite a number of industries back in 1972, which has eventually folded up forcing one to ask where have such industries gone too and what has happened to them.

He said, “ the occasion is not for praises but a time to rethink, a time to re-energize and re-strategize, to ensure that we bring out policies that would really move the Northern Economy forward.

“ I think one of the fundamental thing for the Kano state Investment is to ensure the revival of such industries.

We know all of them, they are there lingering, closed, doing nothing. I would advise the State Investment and property Company to put their search light into the manufacturing sector.

All the manufacturing industries they have inherited should be revived, the money is there is only for us to create the opportunity and tap into them.

He charged them to use their use their connections with great people in the financial sectors with well known names in the capital market, to raise huge capital that would be used in the development of the economy especially in the agricultural, manufacturing and other sectors that are important to the Northern Economy, such as solid minerals, commerce and others.

Chairman of the occasion, Alhaji Bashir Dalhatu Wazirin Dutse, revealed that it is sad that the 19 Northern states that owned NNDC have no single banks as against its initial properties of 9 banks.

According to him, as important as banks are to the development of modern economy, it is sad to note that the 19 norther states presently owns no bank as theirs, when compared to the initial state in the late 70s and early 80s when the north has 9 banks.

He added that in most cases government policies are in themselves responsible for the folding of such investment, as bottlenecks and harsh terms aligned as requirement, wouldn’t allow new investments to thrive or at worst wouldn’t allow investment to sprang at all.

Facebook Comments
Continue Reading

Latest News

Gov. Lalong Gov. Lalong
Opinion4 hours ago

Lalong as God’s plan for Plateau

By Victor Pam As the campaigns continue to heat the polity, we must be careful about the choices we make...

President Muhammadu Buhari President Muhammadu Buhari
Opinion4 hours ago

PMB as God’s will for Nigeria

By Sunday Garuba The elections are around the corner, and again, the hysteria that usually greets such exercises has rented...

Politics13 hours ago

Onnoghen’s trial: YPP slams Buhari govt over ‘hypocrisy’ on CJN’s case

Young Progressives Party, YPP, has described call by the Federal Government for the resignation of Chief Justice of Nigeria, CJN,...

President Muhammadu Buhari President Muhammadu Buhari
Cover13 hours ago

Why PMB did not attend the Presidential debate – FESTUS KEYAMO


Crime13 hours ago

Four dead, eight injured in Bauchi auto crash

The Federal Road Safety Corps has confirmed that about four people died while eight others were seriously injured in a...

Atiku and Buhari Atiku and Buhari
News13 hours ago

2019 presidential debate: Ezekwesili, Moghalu, Durotoye speak on Atiku, Buhari’s absence

The five candidates present at the presidential debate organised by the Nigeria Elections Debate Group (NEDG) and the Broadcasting Organisations...

Atiku Abubakar Atiku Abubakar
News13 hours ago

PDP speaks as Atiku boycotts presidential debate, says ex-VP ready to face Buhari

The Peoples Democratic Party, PDP, on Saturday declared that its presidential candidate, Atiku Abubakar was ready to face President Muhammadu...

Cover13 hours ago

*#We came here for a Presidential debate, not a candidacy debate* – Atiku

…I regret that I will not be able to go on with this debate due to President Buhari’s absence. *We...

jimoh ibrahim jimoh ibrahim
Crime14 hours ago

BREAKING: Fire kills Jimoh Ibrahim’s mother

The mother of billionaire businessman, Omofemiwa Ibrahim is dead. The septuagenarian died in a fire accident at her Victoria Garden...

News17 hours ago

Rivers guber: Peterside reacts as INEC delists APC candidates, speaks on Amaechi causing crisis

The Director General of Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, has expressed the optimism that the...

Imohimi Edgal Imohimi Edgal
News17 hours ago

Police, Army, others in show of force in Lagos

In preparation for the forthcoming general elections, the police, army and other security agencies on Saturday patrolled major highways in...

Health17 hours ago

FCT doctors hail Minister for paying arrears, seek reviews

The Association of Resident Doctors (ARD), Federal Capital Territory (FCT) chapter, have commended the Minister of FCT, Mohammed Bello, for...

News17 hours ago

Burkina Faso prime minister, cabinet resign

Burkina Faso’s government and Prime Minister Paul Kaba Thieba have resigned, President Roch Marc Christian Kabore said. In a post...

Wolves’ Diogo Jota breaks the heart of Leicester in thriller at Molineux Stadium Wolves’ Diogo Jota breaks the heart of Leicester in thriller at Molineux Stadium
Sport17 hours ago

Wolves see off Leicester in Seven Goal Thriller

Wolverhampton Wanderers’ Diogo Jota had the last word in the pulsating seven goal thriller against Leicester City at Molineux Stadium...

Welcome Back Atiku Welcome Back Atiku
Cover18 hours ago

Atiku returns to Nigeria

Former Vice President, Atiku Abubakar, has returned to Nigeria. Atiku left for the United States on Thursday. Atiku’s plane touched...

Follow Us On Twitter

Metro Daily Nigeria

  • Lalong as God’s plan for Plateau
    about 4 hours ago
  • PMB as God’s will for Nigeria
    about 4 hours ago
  • New post: Lalong as God’s plan for Plateau
    about 4 hours ago




You're currently offline

var infolinks_pid = 3151764; var infolinks_wsid = 0;
%d bloggers like this: