In Enugu, First Bank, the defending champions, and Dolphins have enjoyed an unbeaten run and certain to make the finals but the last round of games will produce the last qualifier.
Only on Wednesday, newcomers, Mountain Of Fire Women team lost 55-50 to Dolphins in one of the games decided in Enugu.
From Abuja, Nigeria Customs and Plateau Rocks have also enjoyed a splendid run so far in the race for the final phase.
The Final Six teams will compete at the Sports Hall of the National Stadium, Lagos between November 3rd and 7th.
Winner and 1st runners-up will represent Nigeria at the FIBA Zone 3 Women Champions qualifiers in Cotonou between November 12th and 15th.
The Group Managing Director of Zenith Bank, Peter Amangbo, has promised that the final phase will be more glamorous than the previous editions despite the abridged format of the current league.
Sterling Bank Plc has announced its full support for iCreateAfrica Skill Fest, Africa’s biggest vocational skills event to host the premier youth empowerment festival as part of its effort to deepen the process of skills acquisition and economic inclusion of young Africans across the continent.
The skills festival which is scheduled to hold this month aims to create an environment that encourages the phenomenal display of talents and skills by bringing the excitement and energy of a young emerging workforce alongside proactive organisations who understand that engaging the youth is the best strategy for addressing labour challenges on the continent.
Speaking on empowerment skills festival, Yemi Odubiyi, executive director, Corporate and Investment Banking at Sterling Bank, said, “Unlike any other vocational-based event, the iCreateAfrica Skills Fest will include a conference, exhibition and skills competition.
The skills competition would see the most talented technicians, artisans and innovators from more than 50 universities, polytechnics and vocational training centres in the country, showcasing their skills and competing for funding opportunities as well as exclusive internship programmes.
“In addition, there will be thought-provoking panel discussions on the current state and future of skills development across the continent by industry experts and top public service officials, while participating youths would be expected to demonstrate their skills in various fields, including bricklaying, plumbing, carpentry, hairdressing, garment making, robotics, web and graphic design, software development, among others.”
According to the organisers, the iCreateAfrica exhibition would bring top manufacturers, employers, sponsors and clients face to face with the very best vocational experts, innovators and a pool of young creative minds doing phenomenal things on the continent.
The event is open and free to the public but only youths between the ages of 18 and 30 are eligible to enter the skills competition, while small and medium enterprises (SMEs), multinationals and indigenous companies are expected to exhibit the quality and diversity of their products at the exhibition.
Other partners and sponsors of the event are Abuja Chambers of Commerce and Industry, Nigeria Employers Consultative Association (NECA), Oxfam, GIZ, Nigerian Television Authority (NTA), Bon Hotel, Sound City, Trace T.v, Cachez, Creandolo and Federal Government of Nigeria Industrial Training Fund (ITF).
iCreateAfrica Skills Fest 2018, would expose young Nigerians and other participants from across Africa to the value and promise which the vocational sector holds as well as shed light on the indispensable role of vocational skills in the growth and evolution of the African economy.
With a focus on the youths and the upcoming generation, the visionary event will pioneer a new generation of credible, innovative and excellent vocational experts who would positively impact Nigeria and other African economies.
Heritage Bank Plc has stressed the need for sustained collaboration between banks and financial technology companies (fintechs). This will support Central Bank of Nigeria’s (CBN) drive for financial inclusion and promote economic growth.
Managing Director of Heritage Bank, Mr. Ifie Sekibo, said this while delivering a goodwill message at the 2018 Annual National Conference of the Finance Correspondents Association of Nigeria (FICAN) held in Lagos, recently.
Sekibo, was represented at the event by the bank’s Divisional Head, Corporate Compliance, Mr. Wumi Adeniyi.
Sekibo, pointed out that over the years, Heritage Bank has developed solutions to promote financial inclusion.
He said Heritage Bank had taken bold steps to boost the CBN’s initiative of reducing the numbers of unbanked Nigerians the country, by offering financial services to the nooks and crannies of Nigeria thus providing access to the under-served markets.
“We all agree that our target is to achieve acceleration of financial inclusion. Those who are financially excluded are majorly technologically excluded.
“That means that we cannot push financial inclusion if we do not also push technology inclusion. We believe that by partnering fintechs, the financial services industry will push for inclusion and improve the economy. “That is because the financially excluded persons actually constitute a gap in the financial system and there is no way we can create a perfect economy except we bring all these people on board.
“Another issue is that the older generation is averse to technology because they have not been exposed to it and the fear of fraud. The CBN and the banks will continue to improve on our technology space.
“We might still have issues, but with the creation of the Consumer Protection Department of the CBN, the customers are sure of protection.”
The Central Bank of Nigeria has withdrawn the operating license of Skye Bank. Umaru Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), made this known to journalists on Friday, September 21, 2018.
Umaru said the NDIC in collaboration with the Central Bank of Nigeria (CBN) has approved that a bridge bank will be established.
Addressing journalists, Godwin Emefiele, CBN governor, said the bridge bank, Polaris Bank, will take on the assets and liabilities of Skye Bank.
“Consequently, Polaris Bank Limited has been issued operating license by the CBN and shall commence banking business from today, Friday, 21st September,” Umaru said.
“The operating license of Skye Bank has been revoked by the governor of the Central Bank and the NDIC has commenced its liquidation.
The capitalization of Polaris Bank Limited is being done by the Assets Management Corporation of Nigeria through the injection of about N786 billion to return the bank to soundness and profitability so as to enable its subsequent sale to credible and financially sound third-party acquirers.”
Emefiele said that although the bank’s performance improved after July 2016 when the Assets Management Corporation of Nigeria and the CBN stepped in.
“The result of our examinations and forensic audit of the bank revealed that the Skye Bank requires urgent recapitalization as it can no longer continue to live on borrowed times with indefinite liquidity support from the CBN.
“We wish to assure all depositors that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September 2018, to ensure customers to transact their businesses seamlessly.”
The shares of Skye Bank will be temporarily suspended on the Nigerian Stock Exchange and Polaris Bank will begin operations on Monday in all Skye Bank offices.
Dare devil robbers, Thursday evening reportedly invaded Igarra, headquarters of Akoko-Edo local government area of Edo state and attempted to rob the two banks in the town; Unity Bank and keystone Bank and in the process, not less than 12 persons including a policeman were feared killed.
Also among those reportedly killed in the police station were two detainees who were said to have been arrested yesterday morning for minor offences; one of them was reportedly arrested for incomplete vehicle particulars.
As at the time of this report, the Police Public Relations Officer, Chidi Nwabuzor said information about the attack was still sketchy and would release more details later.
COLOSSUS GISTS gathered that the armed men had first attacked the police station which is about 1.2 kilometre from the banks apparently to demobilise the only means of neutralising their act where they burnt the official vehicle of the newly posted Area Commander and killed a policeman.
Three other persons near the police station were also reportedly killed. At least four other persons were reportedly killed within the premises of the two banks apparently in anger as it was gathered that the armed men could not get access to the vault of the banks.
One of the youths in the community Ofei Obende said they tried to resist the robbers but were overpowered by their firepower but said that the police in the banks had an exchange of gunfire which he said was responsible for the death of the three unidentifiable bodies. He said another unknown person was caught in the crossfire and could help police in their investigation.
The Palace Secretary to the paramount ruler of the community, Otaru of Igarra, Elder Folorunsho Dania who confirmed the incident and added that
“This is a serious case, armed robbers have besieged Igarra so many lives killed, ten dead persons have been counted. The police station set ablaze, the Area Commander’s new car set ablaze because we have an area commander now, then close to the police station, three people were killed and in the banks too; Keystone and Unity Banks many persons were killed and the banks raided, it is a calamity.
“In all, ten lives have gone. They could not access the strong room of the banks. The people that were killed in bank were outside the bank premises.
Four persons killed within the bank premises, a policeman killed in the police station then a stone throw from the police station, three persons were killed, the car of the new area commander was set ablaze.
Igarra is in a war scene, I am right at the police station. It would be recalled that six persons were killed in a similar manner in November 2015 when armed robbers invaded the community.
The spread of mobile phones and cellular networks are facilitating easier access to financial services in hard-to-reach population and small businesses at low cost and risk in developing countries.
Managing Director and Chief Executive Officer of Sterling Bank Plc, Mr. Suleiman Abubakar, said this while delivering a paper as guest speaker at a breakfast roundtable organized by the Financial Services Group of the Lagos Chamber of Commerce and Industry (LCCI) on deepening financial inclusion through data analytics and financial technology in Lagos recently.
Abubakar, who was represented by Sterling Bank’s Chief Information Technology Officer, Mr. Olayinka Oni, noted that in the context of financial inclusion, “Fintechs hold tremendous potential, challenging old business models with greater speed, accountability and efficiency at a cheaper cost.”
He said access to financial products and services were becoming more attainable than ever for consumers that live in rural locations or regions without the equipment and infrastructure of a modern economy due to the prevalence of mobile phones and cellular networks.
Abubakar said financial institutions and fintechs could objectively use data analytics to extend credit to consumers who previously had to contend with sometimes exploitative informal credit because they had no formal credit history.
He said it was essential for a country to have strong political commitment and coordination across relevant stakeholder groups in both the public and private sectors of the economy to achieve financial inclusion.
In addition, the country must put in place wide-reaching policies that promote responsible financial access, financial capability, innovative products and delivery mechanisms, the guest speaker said.
He stressed the impact of data on financial inclusion, saying as customer transactions around the world become increasingly digitized, data analytics can shed light on patterns such as how frequently and for what purposes customers use their accounts to provide some benefits for financially excluded customers.
“Benefits that can be obtained from this approach include insights on financing, accelerating customer product adoption, improved marketing effectiveness, and agent network optimization,” he said.
Alhaji Lai Mohammed at The 61st Meeting of UNWTO CAF Held at The Congress Hall of The Transcorp Hilton Hotel, Abuja
Minister of Information and Culture, Alhaji Lai Mohammed has challenged the Central Bank of Nigeria, CBN, to spur more actions in the electronic payment system to fully exploit the potentials of the sector in economic growth and development.
The minister who was guest at the Electronic Payment Providers Association of Nigeria, (E-PAAN) media workshop in Lagos recently, however, commended the CBN for taking several measures which have seen a tremendous improvement in the overall Nigerian e-commerce sector.
The CBN was a major partner of EPPAN in the organisation of the media workshop which aimed at designing a more robust, recognized and nationally utilized electronic payment system in Nigeria.
The electronic payment system which includes online mobile transactions, ATM withdrawal, Point of sales POS, and others is currently on the fast rise all over the world showing a strong move towards digital and e-payments.
Developments in the sector prompted the coming together of stakeholders to deliberate on issues with a view to harnessing good suggestions that will improve payment system in the country. The deliberations are also expected to strengthen consumers’ confidence in the safety, security, and reliability of payment systems.
In a paper he delivered at a media workshop in Lagos, titled: “The Nigerian Payment System: The journey so far”, Director, Banking and Payments System Department of Central Bank of Nigeria, Mr. Dipo Fatokun said: “This National Media Workshop is aimed at getting stakeholders in the payment system closer to the media team for a better understanding of information about the sector and enhancing our collective knowledge on how issues are reported in order to ensure a stable and sound financial system.
Fatokun noted that so far, the CBN in collaboration with other stakeholders have improved the country’s Payment System through Nigerian payment system Vision 2020.
Part of the initiative he said the CBN has used to improve the sector, included the implementation of Nigeria Uniform Bank Account Number (NUBAN) which has significantly reduced electronic card frauds and helped to put more confidence in the utilization of cards as a means of payment;
Cash-less initiative which has reduced the cost of cash management; Establishment of Nigerian Electronic Fraud Forum (NEFF) to provide a centralized information sharing platform on fraud;
licensing 25 Mobile Money Operators to develop products and financial services that would be accessible to the banked and unbanked population;
Agent Banking as a delivery channel for electronic payments channels in Nigeria where merchants, consumers and salespersons are rewarded either on points or cash basis among others.
licensing 25 Mobile Money Operators to develop products and financial services that would be accessible to the banked and unbanked population;
Agent Banking as a delivery channel for electronic payments channels in Nigeria where merchants, consumers and salespersons are rewarded either on points or cash basis among others.
=========================================
Being predictable is not something most people aspire to. Unless you’re a central banker.
Mark Carney, the governor of the Bank of England, and his eight colleagues on the Monetary Policy Committee, are striving to become more predictable in signaling when Britain’s interest rates will rise again. They had for weeks hinted that a hike was due Thursday and investors were prepared.
Then all those assumptions were dashed by weak economic figures.
As recently as a couple of weeks ago, financial markets were factoring in a 90 percent probability that the central bank would increase in May its base interest rate by a quarter point to 0.75 percent. Now it’s just 10 percent or so.
That has roiled markets, first driving the pound to its highest since the June 2016 Brexit vote and then down sharply again.
“It has been a wild ride,” said Stefan Koopman, an economist at Rabobank. “Market expectations of a rate hike in May, which nearly looked like a done deal, have almost completely vanished.”
What happened? Two things mainly.
First, official figures showed that the British economy barely grew in the first three months of the year. The 0.1 percent quarterly growth was partly due to some snowy weather — the so-called “Beast from the East.” But it wasn’t just that. The data suggested that uncertainty over Brexit is affecting businesses and consumers.
The muted growth further cemented Britain’s place in the slow lane of major economies. Before the country voted to leave the European Union in 2016, it was one of the fastest-growing Group of Seven economies, now it’s one of the slowest, with Brexit uncertainty one of the reasons why. Britain is due to leave the EU in March 2019 but it’s still unclear how it will do so and that’s weighed on business sentiment in particular. Consumer spending has also been hobbled by the Brexit vote, in that it prompted a sharp fall in the value of the pound, which raised the cost of imported goods and pushed inflation way above the bank’s target of 2 percent.
The second reason why the Bank is set to keep rates on hold now is that inflation has come down faster than it was predicting in May. At last count, consumer price inflation had fallen to 2.5 percent. By contrast, the bank in February was forecasting it would be nearer the 3 percent mark, suggesting it would have to raise interest rates to bring inflation back down.
And with no clear signal of what future relationship the government of Prime Minister Theresa May will negotiate with the EU, financial markets have concluded there’s very little reason for the bank to raise its interest rates now.
Carney and his peers may suggest that the possibility of a rate hike has only been delayed, say to August, by which time there should be evidence that the economy gained momentum in the second quarter. By then, the British economy should finally be benefiting from the fact that wages are running higher than inflation for the first time in over a year, a development that should buoy consumers.
That may be the central bankers’ plan, but as the last three months have shown, nothing is that predictable.
Copyright © 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
Subscribe to:
Posts
(
Atom
)
