Friday, March 29, 2024
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OUR LATEST POSTS

Asiwaju is here! Let’s just do it! by Debo Adesina

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The times are tough. It is therefore just appropriate that President Bola Ahmed Tinubu has shunned all forms of celebration of his 72nd birthday. He has great dreams. And a proverb says a man who wants his dream to come true does not sleep. That is a proverb Asiwaju has lived all his life and is living even more, now! That is one man who, literally, never sleeps! The least we can do as Nigerians is to join hands with him by staying awake to our duties and responsibilities as citizens. An appropriate birthday gift we can give him, everyday! Nigerians must deploy their long-held values of hard work, resilience in battles, love of one another and unity of purpose as a people to overcome the challenges the nation currently faces. Nigeria needs the best energies of all Nigerians, talented, patriotic, young and old, men and women, across all divides in order for the dreams we all nurse to come true. No one wants to harness all these more than President Tinubu. When we are conscious of the fact that we are enriched by our diversity as a nation, blessed by our resources and united in our pursuit of the goal of being the African lodestar, Nigeria’s journey to a great future, which has begun anew with President Bola Ahmed Tinubu in charge, will be quickened in pace. The banner of Renewed Hope he waves is comforting not only in its symbolisms but in the substantive actions he is taking to make Nigerians look forward to a greater tomorrow. By jettisoning short-term conveniences and taking the necessary tough path towards life-long prosperity, Nigerians have only one thing to say in tribute to the President and to themselves: tough as the times are, we get you! How might we help?...

NCC: An individual has over 10,000 lines linked to his NIN

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*NIN-SIM Linkage: NCC directs Telecommunication Operators To Bar Non-Compliant Subscribers The Nigerian Communications Commission (NCC) has confirmed that it would not be reviewing its deadline to bar owners of more than four SIM cards whose SIM registration data failed to match their National Identity Number (NIN) data. A source within the Commission explained that the Commission’s position was hinged on its objective to clean the country’s SIM ownership database, and ensure that criminals could not take advantage of having multiple unlinked SIMs to carry out their nefarious activities. “We are not standing back on our decision. March 29 is sacrosanct. Our resolve is hinged on the need to close in on the chaos of untoward ownership of multiple SIM cards with unverified NIN details. We have instances where a single individual has over 10,000 lines linked to his NIN. In some cases, we have seen a single person with 1,000 lines, some 3,000 plus lines. What are they doing with these lines? “From our interim findings, the owners of these lines did not purchase them for decent purposes or to undertake legitimate activities. “We have given them enough time to make the decision of which of their lines they want to keep, and discard the others. They did not. All lines in this category with unverified NINs will be barred. They will then be expected to go to their operators and decide which of the lines they want to keep, as well as submit correct NIN details. “Some people would say they want to use it for car trackers, or for IoTs, but provision has been made for these services already. They are not under the ‘Max-4 Rule.’ “Across the world, no country allows you to have 1,000 SIM cards to make calls or texts.” The Max-4 Rule announced by the Federal Government in April...

Suit against elders: Lagos PDP NASS Candidates Forum disowns Aeroland

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There have been series of developments emanating from the lingering and protracted fracas among some of our party members, ensuing from the various accusations and counter - accusations over anti-party activities and mismanagement of elections funds and tussle for the control of the party in the state. We find it most unfortunate that some members of our party instituted a lawsuit against the party leadership at the National and State, and the Forum of Local Government Chairmen of the Party in Lagos State on allegations of an alleged engagement in anti-parties activities during the conduct of the 2023 general elections in Lagos state. We, the members of the aforementioned named body hereby disassociate and distance ourselves completely and outrightly from the frivolous lawsuits instituted against the leadership and organs of our party both at the National and Lagos State. We see it as being mischievous and embarrassing in all its entirety. We as a respectable group who stood as National Assembly Candidates in the 2023 general elections undoubtedly should know better hereby say unequivocally that we are not part of the PLAINTIFFS, we know nothing about the lawsuits and we will never be part of such act that will bring disrepute to respectable leaders and organs of our party. Most especially at this time that the National body has kick-started a healing and reconciliatory process for all members across board. The mischief and self serving motives from a group of individuals seem to be borne out of ego tripping. It is just a distraction deliberately caused by some individuals in the party who are known to create more trouble to solve another. We are committed to the constitution of the party that gives room to using internal mechanism in handling party affairs in CHAPTER 10, (section 57' 1...
FG to shut down Third Mainland Bridge for another 72 hours

DIVINE INTERVENTION: Scores of passengers saved from death at Third Mainland...

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Scores of passengers were full of thanks to God for saving them this morning at the Third Mainland Bridge, Lagos. One of the passengers said a fully loaded Tata bus with people standing heading from the Mainland to the Island almost plunged into the lagoon, but the iron rail pierced through the engine and forced the vehicle to stop. Watch video https://youtu.be/L9w8oScHkMA?feature=shared

President Tinubu at 72: Leadership in challenging times, by Tunde Rahman

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Today is President Bola Tinubu’s 72nd birthday. Instead of rolling out the drums to celebrate the day, the President directed there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour. He urged anyone wishing to do such for him to donate the money to charity organisations. The decision was taken in deference to the present challenging times. It is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain. Showing empathy for the people and the emotional intelligence of identifying with the weak and vulnerable are in President Tinubu’s DNA. This character trait has become a remarkable feature of his birthdays over time. In March 2020, on the cusp of his 68th birthday, he cancelled his birthday colloquium over the outbreak of coronavirus, explaining that the decision was important amid the overriding public concern over the pandemic. What happened in respect of his 70th birthday on March 29, 2022 was even more touching. He called off an impressive birthday colloquium, right in the middle of the event at Eko Hotel & Suites, Lagos with all the dignitaries in attendance, to honour victims of Abuja-Kaduna train attack. And last year, even after he had convincingly won the February 25, 2023 election, President Tinubu did not celebrate his birthday, saying he would devote the moment for reflection on the huge task ahead. This year’s birthday is the first by President Tinubu on the saddle. His administration is in its 10th month. This period, therefore, offers a veritable opportunity to interrogate his personae, character and administration thus far. There is little doubt that the time we are in is a challenging one indeed. On assumption...

CBN raises bank’s capital requirement from N25bn to N200bn

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The Central Bank of Nigeria (CBN) has increased the minimum capital requirement for Deposit Money Banks (DMBs) with national licences from N25 billion to N200 billion. The apex bank also increased capital requirement for banks with regional licences from N15 billion to N50 billion , and those with international licences from N100 billion to N500 billion. According to a statement issued by the Acting Director, Corporate Communications Department of the bank, Mrs Hakama Sidi-Ali, the new minimum capital for merchant banks will be N50 billion. Sidi-Ali also announced that the new requirements for non-interest banks with national and regional authorisations are N20 billion and N10 billion. The move is coming days after the Monetary Policy Committee (MPC) meeting. The CBN Governor, Yemi Cardoso, had in the meeting, urged Nigerian banks to expedite action on the recapitalisation of their capital base in order to strengthen the financial system. Meanwhile, a circular signed by the Director, Financial Policy and Regulation Department, Mr Haruna Mustafa, said that all banks were required to meet the new minimum capital requirement within 24 months commencing from April 1 and terminating on March 31, 2026. According to Mustafa, the move is to enhance banks’ resilience, solvency, and capacity to continue supporting the growth of the Nigerian economy. Mustafa urged banks to consider injecting fresh equity capital through private placements, rights issues and offers for subscription to meet the new minimum capital requirements. He also suggested Mergers and Acquisitions (M&As); and upgrade or downgrade of licence authorisation. He said that the minimum capital shall comprise paid-up capital and share premium only. “The new capital requirement shall not be based on the shareholders’ fund. “Additional Tier 1 (AT1) Capital shall not be eligible for meeting the new requirement. ” Notwithstanding the capital increase, banks are to ensure strict compliance with the minimum capital adequacy ratio (CAR) requirement applicable to their...