Buhari To African Central Banks: Avoid “Fit For All Purposes” Financial Prescriptions From Abroad

August 18, 2016

President Muhammadu Buhari has charged Central Banks in Africa to continue to look for original home-grown solutions to the numerous financial and economic challenges facing the region, and that they should not rely on “fit for all purposes” prescriptions handed down from abroad.
The world, he said, is a dynamic place and that with innovation, the region can survive the challenges, even as he acknowledged that African Central Banks have been at their best in keeping African economies afloat through proactive and effective combination of conventional and innovative monetary policies.
President Buhari, who declared open on Thursday, the 2016 Annual meeting of the Association of African Central Banks (AACB), in Abuja, listed some of the challenges facing the continent as the slowdown in growth; weakening global demand; rising inflation; restrictions in capital flows; rising debt levels; increased exchange rate volatility and depleting external reserves.
“Those of us who rely on only natural resources such as Nigeria, Angola, South Africa, and Mozambique have been hit the hardest. We have also had to contend with the effect of the Ebola Virus Disease, which struck some countries in the West-African Sub-region. “Furthermore, China, a major trade and business partner to a number of African countries is currently slowing down as it remodels its economy, sparking fears of further weakening.”
The President, who commended the Central Bank of Nigeria for spearheading economic stimulus measures through specific intervention programmes which he said should be sustained through good times and through difficult times, noted that monetary policy alone is not sufficient to bring about desired economic growth.
“We must carefully balance monetary and fiscal policy measures.”
He said that while Nigeria appreciated the economic challenges and the need to surmount them, the country is determined to diversify the economy away from excessive reliance on oil and other primary products. “Consequently, we are taking measures and implementing policies that would ensure we are self-sufficient, generate massive employment for millions of our youth, and explore our untapped human and natural resources.
“We shall also embark on export and production diversification steps, including investment in infrastructure; promotion of manufacturing through agro-based industries and expansion of Regional Trade. All these would involve integrating the informal economy into the mainstream and providing funds to Small and Medium Enterprises.
“We shall also continue, with greater determination and focus to pursue our goal of ensuring improved security for our country and its citizens, and without letting up on our fight against corruption and terrorism.
“Side by side, with economic stimulus measures, we must intensify our surveillance and give guidance to the operations of our financial institutions to reverse the trend of illicit flows of funds out of Africa.
“We should all be serious in putting measures aimed at ensuring that the proceeds of these illicit flows are repatriated to their countries of origin with minimal bureaucratic hitches.”
The President welcome the theme of this year’s meeting of the Association, which is: “Unwinding Unconventional Monetary Policies: Implications for Monetary Policy and Financial Stability in Africa.”
He noted that the theme covers contemporary issues and is of special relevance to Africa.
The theme, President Buhari stressed, corresponds with a period when African economies are confronted with a number of growing and sometimes extraneous challenges that constitute threats to growth and the stability of the financial systems. [myad]

18 Year Old Nigerian Girl Shines In UK Education, Gets Admission To Study Medicine

Greenbarge Reporters

August 18, 2016

A Nigerian female student, 18 year old Uchechukwu Alanza, has not only received an incredible results in her A-Level results at leading independent college, Abbey College Cambridge, but has been offered admission to study Biomedical Science at University of Sussex in the United Kingdom.
The result of Miss Uchechukwu, which were released on Thursday morning at the city college, showed that she scored A, A, B, B in Biology, Chemistry, Economics and Mathematics respectively.
She was said to have previously studied at Capital Science Academy before choosing Abbey College Cambridge to further her studies.
Elated Uchechukwu said that she was delighted to achieve her aim of studying for a medical sciences degree, and further her ultimate ambition of becoming a surgeon.
“My time at Abbey has exposed me to other cultures and provided me with friends and contacts from around the world.
“The teachers at Abbey College Cambridge teachers are open to discussion and provide tips and guidance to ensure we achieve the best we can – even if it means sacrificing their leisure time. The biology field trip in Wales was a mixture of education and pleasure. I made happy memories being part of nature and learning information essential to my biology A-Level. The Italy trip was informative and fun. We got to be part of Italian culture and have a taste of their food.”
The Principal at Abbey College Cambridge, Julian Davies, said: “Uchechukwa is a very ambitious young lady who will go on to do great things. She is very determined and intelligent, so we are very pleased that these results reflect that. Uchechukwa has been an exceptional student and extremely involved in the college. All of her peers look up to her and we wish Uchechukwa the very best in the future.”
The Alpha Plus Group comprises seventeen first-class independent schools, nurseries and sixth form colleges throughout the UK and boasts an unrivalled international reputation.
The Group specialises in helping students from across the world achieve the personal, social and academic growth needed for success at the UK’s top universities.
Providing a secure and caring environment for international students, each of the four colleges which are based in London, Manchester, and Cambridge, offer contemporary, state-of-the art, single ensuite rooms with onsite security 24 hours a day seven days a week.
Alpha Plus Group stands for the Gold Standard in educational provision. By providing first-class learning, the Group enables pupils to achieve their full potential in a challenging and caring environment. Teaching throughout the Group combines the best of traditional and modern methods and provides access to the latest classroom technology. [myad]

Music Of The Dead Poem To Feature In Abuja Guest Writer Session

Greenbarge Reporters

August 18, 2016

“Music of the Dead,” a unique poem, one of the literary works of a multiple award-winning poet and scholar, Dr. Musa Idris Okpanachi, is scheduled to feature prominently in the August 27 edition of the Abuja Guest Writer Session.
Also to be featured are Chido Onumah’s latest book: “We Are All Biafrans” and musical show by Zainab Sule.
Dr. Okpanachi, who hails from Kogi State, teaches at the Federal University, Dutse, Jigawa State. His new volume of poems, “Music of the Dead” can be regarded as continuation of the exploration of power and its abuses, which characterized his two previous collections, “Eaters of the Living” and “From the Margins of Paradise.”

According to Eugenia Abu, Okpanachi’s verses are deep, trenchant, jolting us to the reality of our times … and he uses all the words in his literary jaw juxtaposed with themes of today, philosophers of old and themes of yesteryears to get us to listen. For lovers of poetry, it is an incredible collection…. For the uninitiated, it is an Education.”
Chido Onumah, whose “We Are All Biafrans” has been stirring a lot of public interest, is a Nigerian/Canadian journalist, author, blogger and rights activist. He worked for over two decades as a journalist, rights activist and media trainer in Nigeria, Ghana, Canada, India, the US, the Caribbean and Spain.
He sees his book as…“not a call to action, not a call to support the Biafra agitation, but it is just a reminder that we have so many problems in Nigeria and that time has come for us to sit at the table of nationhood to address these problems.”
Onumah studied at the University of Calabar and received an MA in journalism from the University of Western Ontario.
He is a doctoral candidate in communication and journalism at the Autonomous University of Barcelona, Spain UAB and has won a number of journalism related awards.
His other publications include Nigeria is Negotiable (2013) and Time to Reclaim Nigeria (Essays 2001-2011) 2011.
Onumah is coordinator of the African Centre for Media & Information Literacy (AFRICMIL), and interim chair of the Pan-African Alliance for Media & Information Literacy (PAMIL).
Zainab Sule is a Nigerian musician, fondly known to both friends and fans as the Queen of Soft Rock.
For the past five years, Zainab has slowly but steadily won new fans and gained audiences in and outside Nigeria, firmly engraving her music in their hearts with her intense, yet laid back style.
Zainab points her early influences to Bryan Adams, Coldplay, Prince and more, while she has been compared to acts like Natalie Imbruglia, Dido, and Tracy Chapman. She has also been featured on several National Dailies such as Daily Trust, People’s Magazine and other local newspapers.
Asides music, Zainab holds a degree in Mathematics from the University of Jos, and 3 CIW Certifications in Web Design. In her other life, you’ll find her working as a consultant to some major companies under her company name and alter ego, Pishon.
Zainab is currently working on final plans for her upcoming annual Abuja Rock show, and putting finishing touches to her third album, while rounding up a non-for-profit documentary, “Music Beyond Borders” with Action Aid Nigeria.
You can find her on social media with the handle @zainabSULE or her official website, www.zainabsule.com. [myad]

We Are Actively Considering Solar As Alternative Energy Source – Osinbajo

Greenbarge Reporters

August 18, 2016

Vice President Yemi Osinbajo has said that the Muhammadu Buhari government is actively considering solar energy as alternative source of power generation in Nigeria.
He added that the government has set a target to expand reliance on renewable energy to 50 percent of its power output by 2020.
Vice President Osinbajo, who received in audience at the Presidential Villa on Thursday, a delegation led by the Indian High Commissioner in Nigeria, Mr. B. Nagabhushana Reddy, said: “we are doing some expandable work in solar energy by adding about 1000MW of solar. We are looking at 50 percent reliance on renewable energy sources by 2020.”
The Vice President stressed that the Buhari presidency is determined to improve access to electricity, even as he welcome the $100 million credit facility from India to be injected into the Nigeria economy, especially in the power sector.
Professor Osinbajo called for more active engagement between both countries, adding that opportunities exist in agriculture and technology for Nigeria and India to cooperate. According to him, diplomatic and economic relationship between both countries have been extremely good.
Earlier the Indian High Commisioner had said that his country supports the plan of the Buhari administration to make the Nigerian economy strong. He welcomed the recently launched “Green Alternative,” the agricultural road map of the Federal Government, saying that India has a keen interest in expanding domestic agric production in Nigeria and also in making quality agric products for exportation. [myad]

Buhari Media Support Group Mourns Justin Abuah

Greenbarge Reporters

August 18, 2016

The Buhari Media Support Group (BMSG) has expressed regrets over the sudden death of former Director of Information at the Presidential Villa, Mr. Justin Onuora Abuah.
In a statement by the group’s chairman, Muhammad Labbo and secretary, Cassidy Madueke, it said that Abuah died at the age of 57, when the country still needed more of his service.
The Group recalled how his colleagues have been testifying that he was a gifted writer and a complete gentleman, adding that he had earned the commendations of seven past Nigerian leaders under whom he worked at the Presidential Villa since 1986.
“We will forever miss his amiable and friendly disposition as well as his hefty laughter and infectious carriage which attracted colleagues and co-workers to him at all times.
“While we join other colleagues in mourning O.J. as he was fondly called, we pray to God for the repose of his soul.”
The Group sympathized with members of his family, especially his wife, children and colleagues who worked closely with him. [myad]

Adesina Signs Condolence Register For Abuah (PHOTO)

Greenbarge Reporters

August 17, 2016

Special Adviser to President Muhammadu Buhari on media and publicity, Femi Adesina, signing the condolence register that was opened in honour of the Director of Media, State House, Justin Abuah, who died in Abuja on Sunday

Elder brother of the late Director of Media in the Presidential Villa, Dr. Arnold Abuah (L), welcoming the special adviser to President Buhari on media and publicity, Femi Adesina as Garba Shehu, senior special assistant to the President on media and publicity (R behind), on condolence visit to Abuah’s family on the death of Justin Abuah. With them is the son of the deceased, Chinedum Abuah.

Chairman of the State House Press Corps, Mr. Kehinde Amodu (in straw hat) and other State House media team wait for the Special Adviser to the President on media and publicity, Femi Adesina to sign the condolence register in honour of the deceased Director of Media in the Sate House, Justin Abuah, before they too sign. [myad]

We Have Held Our National Convention Despite Police Action – PDP

Greenbarge Reporters

August 17, 2016

The spokesman of the Ahmed Makarfi-led Caretaker Committee of the Peoples Democratic Party (PDP), Dayo Adeyeye has said that despite the sealing off the Sharks Stadium in Port Harcourt by the police, venue of the Peoples Democratic party’s National Convention, the party was able to successfully hold it.

Adeyeye, who insisted that holding the convention outside the earlier planned venue does not invalidate it, confirmed that the tenure of the Makarfi Caretaker Committee has been extended by one year.

Speaking to Channels Television in Port Harcourt, Adeyeye explained that the party had to move to its secretariat in Port Harcourt where it held the convention and announced the extension of the Ahmed Makarfi-led Caretaker Committee by one year at the end of the exercise.

The Nigerian Police had cordoned off the venue of the planned National Convention, citing the ruling of a Federal High Court in Abuja on Tuesday barring the PDP from holding the convention.

Justice Okon Abang, ruling in a motion filed by a factional chairman of the party, Ali-Modu Sheriff, restrained the Inspector General of Police and the Independent National Electoral Commission (INEC) from supervising or monitoring the planned convention pending the determination of the substantive suit.

The Public Relations Officer of the Nigerian Police, Donald Amunah defended the action, maintaining that the police got conflicting orders and as a neutral body, they have to take charge. [myad]

German Humbles Nigeria Dream Team In Rio With 2 -0

Greenbarge Reporters

August 17, 2016

Germany defeated the Nigeria’s men football Olympic team, Dream Team VI in the semifinal, in the ongoing Rio Olympic Games in Brazil. The Germans scored two goals, one in each of the two halves.

The second goal was scored by Nils Peterson in the 88th minute.
The match lacked the sparkle of previous matches played by the Dream Team.
Germany will now play the host Brazil in the final, as the Nigeria Dream Team will play Honduras for the bronze medal.
Brazil had in an earlier semifinal game, drubbed Honduras 6-0.

We Will Not Victimize Journalists Unnecessarily, Nigerian Army Assures

Greenbarge Reporters

August 17, 2016

The Nigerian Army has assured Journalists in the country that they would not be victimized unnecessarily in the course of their duties.
The Director of Defence Information, Brigadier General Rabe Abubakar, gave this assurance at a lecture organized by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ), Federal Capital Territory (FCT) chapter.
The lecture, with the theme: “Media-Military Relationship in the Fight against Insurgency,” was part of the activities marking the 2016 Press Week of the chapel.
General Rabe, who was reacting to the recent declaration of a Journalist, Ahmed Salkida wanted along with two others in connection with Boko Haram abduction of Chibok girls, said the report was full of sentiments.
He advised the media practitioners not to allow sentiments to influence their judgment on the issue.
He said the military should be allowed to do its work, while assuring that no member of the media would be victimized unnecessarily.
General Rabe said that good military-media relationship is crucial to winning the war against insurgency.
He said the media drove public support for the military, which in turn had boosted the morale of officers and the rank and file.
Giving a progress report on the war against terrorism, the General said that no fewer than 8,000 Boko Haram members have voluntarily surrendered to the “Operation Safe Corridor” in the North East.
He said the surrendered insurgents were in a camp in Gombe State waiting to be “de-radicalized” by the military.
General Rabe said that more than 10,000 Boko Haram captives have been rescued by the military and that some of them have been reunited with their families, while others have been taken to Internally Displaced Persons camps.
He said that Boko Haram has been successfully decimated by the military and that government is working hard on the rehabilitation of the victims and reconstruction of the affected areas.
The General said that the military would soon launch “Operation Safe Corridor” to address the menace of herdsmen across the country.
He assured that the military operation would put an end to the wanton killings by the herdsmen. [myad]

CBN Declares Skye Bank Healthy, Says It Is Not Distressed, Not Liquidated

Greenbarge Reporters

August 17, 2016

The Central Bank of Nigeria (CBN) has described as malicious, news going round that Sky Bank has been liquidated by the CBN and that its customers should hasten to withdraw their deposits or transfer them to other banks.

In a statement on Wednesday, the Acting Director in the Corporate Communications department of the apex bank, Mr. Isaac Okorafor said that the CBN has not liquidated Skye Bank or any other Deposit Money Bank for that matter.

“The Bank also wishes to reiterate its earlier assurance that Skye Bank is not in distress and remains a healthy bank in the Nigerian banking system. Indeed, the health of the Nigerian banking system remains strong, all banks in Nigeria are safe and depositors have no cause to fear over their deposits.

“While it will be recalled that Skye Bank had corporate governance challenges, the CBN has since taken proactive steps to resolve the issues identified. Indeed, the CBN is satisfied with the efforts of the new Management to reposition Skye Bank for effective service delivery.

“Accordingly, customers of Skye Bank and other stakeholders are advised to disregard any message purporting a liquidation of the bank.” [myad]

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