Thursday, November 30, 2017

Emefiele: Our Worst Days Behind Us


                                                 CBN GOVERNOR
There is hope for Nigerian

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has affirmed that with the Nigerian economy exiting the recession, following a number of policy responses, the worst days were clearly behind the country.
Emefiele noted that based on analyses and understanding of the developments which confronted the country, the central bank took a number of measures, many of which were at the time vigorously criticised, but which helped the economy out of the recession.

Tracing the economic recession to the significant and persistent drop in commodity prices that affected the economy adversely, Emefiele said the resultant effect was depressed GDP growth, rising inflation, depreciation of the exchange rate, as well as depletion of the country’s foreign exchange (FX) reserves, and the decline in average FX inflows.


Emefiele, who delivered the 47th convocation lecture of the University of Nigeria, Nsukka (UNN) yesterday, pointed out that the vulnerabilities of Nigeria to the global shocks were amplified because of the nation’s over-reliance on the oil sector for FX revenue and for government finances.
“Even at the height of high oil prices, rather than save, we drained our buffers through an excessive dependence on imports, most of which could be produced locally.
“Based on our analyses and understanding of these developments, the Bank took a number of measures many of which were at the time vigorously criticised,” he said.
The CBN governor noted that in the realm of monetary policies, the CBN embarked on a cycle of policy tightening to rein in inflation, using the Monetary Policy Rate (MPR) and Open Market Operations (OMO).

In external reserve management, he noted that the CBN adopted demand management through essential commodities while a number of actions were taken in the area of exchange rate management to stabilise the exchange rate.
“In development finance, the Bank continued its financing activities in key high-impact sectors like power, aviation, education, MSME, agriculture, including CAC’s, ACGs, NIRSAL, the Anchor Borrowers’ Programnme, etc.
“In the light of these and other policy responses, we are delighted that the economy has turned the corner with our worst days clearly behind us,” Emefiele said, adding that gross domestic product (GDP) growth recovered after five quarters of continuous contraction while inflation dropped from a peak of 18.7 per cent in January 2017 to 15.9 per cent in November.
He also noted that the positive indicators also manifested in the areas of exchange rate appreciation, improved FX supply, recovery in FX reserves, significant boost in local production, as well as improvement in the World Bank’s ‘doing business indicator’.


The CBN chief executive, whose convocation lecture dwelt on “A Mindset for Succeeding in Today’s Nigeria”, noted that the boost in local production was important because of the demographic factors.
“Imagine that today, Nigeria is estimated to have a population of over 180 million people, and this population is predicted by the United Nations to be 398 million people by 2050, which would make Nigeria the third largest in the world by that time.


“These trends present a significant opportunity for our graduates to turn whatever challenges they may be facing into opportunities that can harness these demographic shift. Imagine what would happen if Nigeria and Nigerians cannot provide food, shelter, clothing, health, education, and other basic things for the teeming population.
“Even though these trends should already begin to bother current leaders in our country today, I believe that young Nigerians can begin today to see these trends as opportunities and think of what they can do to take advantage of the situation,” he observed.
He reeled off names of many young and successful Nigerians, who rather than complain about what the government did not do for them, identified common problems and needs of the society and created solutions that turned them into millionaires.
The CBN governor disclosed that the Bank was currently reviewing the broad framework of its development financing funds with a view to creating new channels through which entrepreneurs with great ideas can access credit without dissipating much effort.
Some of the central bank’s development financing fund initiatives include the N220 billion initiative for MSMEs, Anchor Borrowers’ Programme, and Agricultural Credit Guarantee Scheme, among others.

He disclosed that the federal government and the CBN were encouraging the Deposit Money Banks (DMBs) and other development finance institutions to create awareness through which innovative entrepreneurs could access credit with a view to creating opportunities for job creation.
Emefiele also admonished universities and other tertiary institutions across the country to focus on research, evolve innovative approaches to job creation and income generation, and form business units, assuring that the CBN was willing to provide the necessary financing.


As part of the CBN’s efforts to address the challenges of unemployment, promote entrepreneurial spirits among Nigerian youths and enhance the spread of small and medium enterprises, Emefiele stated that the central bank designed and formulated a number of policies and programmes for direct real sector intervention.
According to him the Bank’s Youth Entrepreneurship Development Programme (YEDP), which was launched on March 15, 2016 and run in collaboration with banks and the National Youth Service Corp (NYSC) had helped recently discharged corps members access concessionary financing of up to N5 million for innovative job creating ventures.


Addressing the graduating students, Emefiele, himself an alumnus of the institution, urged young graduates to embrace the philosophy of being job creators rather than job seekers by availing themselves of the Bank’s financing window through creative entrepreneurial and innovative ways.


“As you leave the university and proceed to the NYSC, I encourage you graduands to take advantage of this. In addition, there is also the N220 billion CBN initiative to support micro, small and medium scale enterprises (MSMEs). This is aimed at encouraging entrepreneurship development and creating an environment that supports business success.
“It is our firm belief that our modest contributions are already yielding the expected dividends for all to see. These schemes are set up solely for your use, please take advantage of them,” the CBN governor advised.


He, however, admitted that the government was expected to provide the impetus and enabling environment while also acknowledging that there were problems associated with the ease of entrepreneurs accessing credit.
“Let me state that the federal government, including the CBN, is encouraging the Deposit Money Banks and other development finance institutions to create awareness through which innovative entrepreneurs can access credit with a view to creating opportunities for job creation.
“At the moment, the CBN is reviewing the broad framework of its development financing funds through which entrepreneurs with great ideas can access credit with minimal effort,” he said.
Emefiele, who noted that the lecture was a noble homecoming for him, having graduated from the university 34 years ago, said he always has nostalgic feelings about his alma mater.

In his remarks, the chairman of the convocation lecture and a former governor of the CBN, Prof. Chukwuma Soludo, observed that in spite of the nation’s challenges, “there are flickers of hope”.
He told the graduating students that the message of Emefiele’s lecture was that as they graduate, they should find opportunities in the midst of adversity, noting that it may not be rosy out there for all of them.
Soludo, however, reminded the government that jobs cannot be created by applying the tools that held sway in the past decade but through creative and innovative ways.
While calling for creative thinking by all, Soludo noted that although the country has exited the recession, the development was propelled by the oil sector.


According to him, the non-oil sector still contracted based on the last GDP figures released by the National Bureau of Statistics (NBS), calling for a collective solution to the nation’s challenges.


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Let Celebrate Mobi Patrick Oparaku, Today is His Birthday




                                                         Mobi Patrick Oparaku


Mobi Patrick Oparaku (born 1 December 1976 in OwerriImo State) is a Nigerian former footballer who last played as a defender for Enyimba International F.C..

Club Career

He played for several clubs in Belgium. In 2000, Oparaku spent one season with the El Paso Patriots in the USL A-League.In 2001, he played for the Connecticut Wolves. In December 2005 turn back to Nigeria with teammate Rashidi Yekini to Gateway F.C



International Career

Oparaku played 6 matches at 1993 FIFA U-17 World Championship. For Nigeria national football team, he was a participant at the 1996 Olympic Games where Nigeria won the gold medal and at the 1998 FIFA World Cup.




Mobi Oparaku
Personal information
Full name
Mobi Patrick Oparaku
Date of birth
1 December 1976 (age 40)
Place of birth
Height
1.78 m (5 ft 10 in)
Playing position
Senior career*
Years
Team
Apps
(Gls)
1993–1995
1995
1995–1997
30
(2)
1997–1999
25
(5)
2000
13
(3)
2001
23
(1)
2001–2005
4
(0)
2005–2008
2008–2010
National team
1993
6
(0)
1996
6
(0)
1996–2003
8
(0)
* Senior club appearances and goals counted for the domestic league only and correct as of 21 March 2008.
‡ National team caps and goals correct as of 21 March 2008

Olympic medal record
Representing  Nigeria
Men's Football




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Falana sues Fed. Capital Dev. Authority over failure to cover up manhole on Abuja streets



                                                   Femi Falana


  
Human rights lawyer Femi Falana SAN has sued the Federal Capital Development Authority over “failure to cover up the manhole on Abuja streets.

The suit filed yesterday before the High Court in Abuja followed the event on 27th October 2017 when according to Falana he “was walking on Shehu Shagari Way, Maitama District, Abuja, and fell into an uncovered manhole which had no inscription around it to caution road users especially pedestrians to avoid same.

” In the suit no CV/0248/17, Falana is arguing that, “The Defendant owes all road users, including the Plaintiff a duty of care by ensuring that the roads within the Federal Capital Territory are safe for all road users. The defendant ought to know that leaving a manhole open in the middle of the road was dangerous for all road users, especially pedestrians. The Defendant owes the Plaintiff a duty of care to ensure his safety while walking on Sheu Shagari Way, Maitama District, Abuja.” According to Falana,


 “The failure of the Defendant to exercise reasonable care for the safety of road users especially pedestrians by covering the manhole in the middle of the road caused the accident leading to the severe sprain the Plaintiff suffered on his right knee. The Plaintiff was in severe and excruciating pain when the accident leading to the sprain in his right knee occurred. The Plaintiff had to undergo series of medical procedures which caused him severe pain. Owing to the severe pain, the Plaintiff suffered physical, psychological and mental trauma.” The suit read in part: “The accident impacted negatively on the Plaintiff’s business as he was admitted at the National Hospital Abuja from October 26, 2017 to October 27, 2017.


The Plaintiff avers that several persons have suffered similar injuries resulting from similar accidents due to the negligence of the Defendant. The Plaintiff further avers that the Defendant has failed to cover the several manholes in the Federal Capital Territory.” “The Plaintiff further specifically avers that upon falling into the uncovered manhole, the Plaintiff was injured and was rushed to the National Hospital Abuja where he was issued a Patient’s Personal Card with Number: 532102.”

 “The Plaintiff avers that he was examined by a Radiologist at the National Hospital Abuja where he was diagnosed with a severe sprain in his right knee that led to the application of POP cast on the said knee. The Plaintiff pleads and will at the trial of this matter, rely on a copy of the report dated 27/10/2017 herewith attached and marked “Exhibit FF 01”.” “The Plaintiff avers that he suffered severe and excruciating pain as a result of the sprain he suffered on his right knee that led to application of POP cast which would last 4 – 6 weeks subject to his Doctor’s advice.”


 “The Plaintiff avers that prior to the application of P.O.P on my right knee; the doctor who attended to me ordered an X-ray/MRI scan on my knee. The image of the X-ray/MRI scan is contained in a Compact Disc.” “The Plaintiff avers that he paid for various sums for different medical procedures as listed hereunder: Registration: N2, 500.00; XRAY RT Knee: N3, 500.00; POP Application: N30, 000.00; Final Payment on Admission: N173, 580.00.”



 “The Plaintiff pleads and will at the trial of this matter, rely on copies of the receipts issued by the National Hospital, Abuja in respect of the above payments, herewith attached and duly marked “Exhibits FF 02, FF 03, FF 04 & FF 05 respectively.” “The Plaintiff avers that owing to the severity of the sprain, he was placed on crutches. In line with the Plaintiff’s Doctor’s advice, he has been walking with the aid of crutches and would only stop on further advice from his Doctors.”



 “The Plaintiff avers that he was also issued Remita Retrieval Reference Invoices prior to the payment of the sums of N30, 000.00 and N173, 580.00 respectively. The Plaintiff pleads and shall at the trial of this matter, rely on the receipts of the National Hospital Abuja issued to him evidencing payment for the items listed in the preceding paragraph herewith attached and marked “Exhibits FF 06 & FF 07 respectively”.



” “The Plaintiff avers that he was also issued an Inpatient Statement of Account from 26/10/2017 to 27/10/2017. The Plaintiff pleads and shall at the trial of this matter, rely on the said Inpatient Statement of Account of the National Hospital, Abuja herewith attached and marked “Exhibit FF 08”.” “The Plaintiff specifically avers that he experiences severe and excruciating pain when he is walking from one point to the other. The Plaintiff avers that the Defendant’s negligence caused the accident which led to the severe sprain on his right knee.”





“The Defendant is the Federal Capital Development Authority, a body established by an Act of the National Assembly with a duty to construct and maintain such roads, railways, sidings, tramways, bridges, reservoirs, water courses, buildings, plant and machinery and such other works as may be necessary for, or conducive to, the discharge of its functions under the Act establishing it.


” Falana is seeking the following reliefs against the Defendant: a) A DECLARATION of this Honourable Court that the Defendant’s negligence, to wit their failure to ensure the Plaintiff’s safety on Sheu Shagari Way, Maitama District, Abuja by covering up the man hole on that street led to the accident which caused a severe sprain on the Plaintiff’s right knee. b) AN ORDER of this Honourable Court directing the Defendant to cover up all uncovered man holes in the Federal Capital Territory. c) AN ORDER of this Honourable Court directing the Defendant to pay the Plaintiff the sum of N209, 580.00 (Two Hundred and Nine Thousand, Five Hundred and Eighty Naira only) as specific damages. d) AN ORDER of this Honourable Court directing the Defendant to pay the Plaintiff the sum of N100, 000,000.00k (One Hundred Million only) as general damages. No date is fixed for the hearing of the suit. 


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FUNAAB’S 55th inaugural lecture: Ban the use of plastic bags, Varsity don tells FG



                                                         Professor Arowolo


A renowned Scholar of Environmental Management and Toxicology, Professor Toyin Arowolo has called on the Federal Government to ban the use of plastic bags in the country, in order to improve public health and ensure safe environment. Professor Arowolo made the call while delivering the 55th Inaugural Lecture of Federal University of Agriculture, Abeokuta (FUNAAB) entitled: Environmental Degradation: Mortgaging Our Future for Today’s Gain, at the institution’s Ceremonial Building, Alabata Road, Abeokuta, Ogun State.

Professor Arowolo Arowolo, a Professor of Analytical and Environmental Chemistry had noted with dismay that many of the man-made threats to our environment were fuelled by ignorance and non-challant attitude of the populace. He lamented that stakeholders have not educated Nigerians enough to the point of convincing them to turn away from bad environmental management practices such as illegal felling of trees, indiscriminate lighting of fire and poor refuse disposal habits, among others.


He therefore called on government, to as a matter of urgency consider banning the use of plastic bags in the country, in order to drastically improve solid and liquid waste management, especially municipal waste in the country. Arowolo reinforced his call for the banning of the use of plastic bags in the country, disclosing that over 40 countries in the world have banned, partly banned or taxed single use plastic bags. According to him, the countries include China, France, Rwanda, Kenya and Italy, urging the Federal Government to take a cue from the countries by following suit with the banning of the use of plastic bags.


 Besides, Arowolo also charged the federal and state governments to ensure adequate funding for the management and protection of the environment, as well as judicious application of the funds allocated and secured from donor agencies. He canvassed the need for  federal and state governments to ensure that the country’s infrastructure meets the modern- day needs and beyond, in respect of uninterrupted power supply, potable water for all and effective railway system, among other recommendations.


Professor Arowolo also called on religious leaders to set aside a day to sensitize faithfuls on the need to ensure a clean and safe environment. On his contributions to knowledge, Arowolo who has 34 years experience in the academia informed that the main focus of his research had been in the application of Analytical Chemistry in Environmental Management and Toxicology.


The former Dean of College of Environmental Resources Management (COLERM) further said: “I have studied the levels, forms, mobility and fate of essential trace elements, potentially toxic elements and rare earth elements in soils, sediments, air, water, plants, food and biological samples.” Professor Arowolo, a former Deputy Vice-Chancellor (Academic) expressed gratitude to God and stakeholders for the privilege of delivering the inaugural lecture, recalling that he joined the university as a pioneer staff when it was founded and known as Federal University of Technology, Abeokuta (FUTAB) on 1st December, 1983 as an Assistant Lecturer (Analytical Chemistry).



He thanked God that he survived all the transformations from FUTAB to ULAB (University of Lagos, Abeokuta Campus) to COSTAB (College of Science and Technology, University of Lagos, Abeokuta Campus) ditto UNAAB to the present day FUNAAB. In his Remarks, the Vice-Chancellor and Chairman of the Lecture, Professor Kolawole Salako described Professor Arowolo as a devoted Environmentalist who practices the dictate  of his calling.


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I almost lost sanity after retirement – Totti




                                        Totti

Former Italy striker Francesco Totti on Thursday said accepting the end of a legendary footballing career was tough.
He told newsmen that “at the beginning, I was talking to myself like a madman, I’m injured, I’m suspended, I’ll be back in a kit soon, though I’ve got used to it now.”

Totti said he struggled with switching off from a routine of “waking up early, having breakfast and then going to training, like a machine.
“Now I have to plan my days. The impact has not been easy, though I still train every day to let off a bit of steam and to stay fit.

“If I let myself go, I’ll go up to 300 kilogrammes, for now, I’ve put on at most a couple.”
The 41-year-old hung up his boots in May, breaking down in tears after a 3-2 home win against Genoa that sealed his 25-year playing career with Roma, his boyhood club.

He has no regrets at turning down offers from Real Madrid, the Emirates and the United States.
“I would have made lots of money, but I would have ruined a 25-year-old love affair with Roma,’’ he said.
Totti said that out of current stars he prefers Lionel Messi to Cristiano Ronaldo, and singled out tennis champion Roger Federer as his sporting hero, who “does not even sweat when he plays.”
If Roma, currently in fourth position, do not win the league this season, Totti said he fancied Serie A leaders Napoli, because he liked the idea of the Scudetto going to a southern Italian club.

He also said that starting out a new career as a coach was not a “priority now,” aside from following the football career of his 12-year-old son, Cristian.
“I let him do his thing and I don’t say anything to him. In about three or four years, I’ll see what he’s truly made of,’’ Totti said.



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U.S: Matt Lauer apologises for sexual misconduct




                    Matt Lauer 


Long-time U.S. television morning show host, Matt Lauer, who was fired for inappropriate sexual behaviour, has apologised and said the situation made him feel “embarrassed and ashamed.’’
Lauer, who as co-host on the “Today’’ show for more than 20 years became one of the most prominent faces in U.S. television news, issued a statement that was read on air on Thursday.

“There are no words to express my sorrow and regret for the pain I have caused others by words and actions. To the people I have hurt, I am truly sorry.

“As I am writing this I realize the depth of the damage and disappointment I have left behind at home and at NBC,’’ Lauer said.
Lauer was fired after network managers received “a detailed complaint from a colleague’’ about his behaviour.

The network said his sacking came after a female colleague accused him of inappropriate sexual behaviour while the two were in Russia to cover the 2014 Sochi Olympics.

Lauer, 59, said some of what has been reported is untrue or mischaracterised, but added, “there is enough truth in these stories to make me feel embarrassed and ashamed. I regret that my shame is now shared by the people I cherish dearly.’’
He is now committed to beginning the effort to repair the damage, he said.

After Lauer was fired, the New York Times reported that two other women had made complaints about him.
One said he sexually assaulted her in his office in 2001.
NBC later confirmed that two more accusers had come forward.




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APGA victory: Anambra people voted for Ojukwu not Obiano –Anumaka

Anumaka

Chief Tobby Anumaka, Patron Okpoko Igbo and chieftain of the All Progressives Congress (APC) has described the victory of the All Progressives Grand Alliance (APGA) candidate and Governor of Anambra State, Willie Obiano in the just concluded Anambra State governorship election as victory for the late Dim Chukwuemeka Odimegwu Ojukwu (Ikemba Nnewi).
Has President Muhammadu Buhari’s visit to the South-East change the perception of an average Igbo about his person?

President Muhammadu Buhari’s visit to the South-East is a strong indication that he does not hate Igbo contrary to earlier insinuation that the President is anti-Igbo. I stand to be corrected; the cook, driver and most domestic staff of President Buhari are Igbo. Most roads, buildings and facilities in some secondary and tertiary institutions in the South-East were constructed by the Petroleum Trust Fund (PTF) under Buhari. One of the roads he did in the region is the Onitsha Head Bridge/ Upper Iweka road, when Dr. Nnamdi Azikiwe died in 1996 to enable those coming for the burial of Zik have easy access to his house .


 The sin of Buhari against Ndigbo was because he defeated former President Goodluck Jonathan who Igbo lined behind during the 2015 presidential election. Most of us saw it a defeat of Ndigbo. I always admonished our people that election is a contest and one person must win and after election both winners and the losers have to come together and move the nation or state forward. This Igbo must realise and come to terms with. Buhari is not President of the north but President of Nigeria. That you hate him cannot change anything, therefore we must embrace him as part us and then get our share of the national cake. The South-East should be grateful to God for the historical visit of President Buhari to the region.
 It is historical because that was the first visit by Buhari to the Southern part of Nigeria since he assumed office as the President of Nigeria in 2015. I think by the visit and promises made Buhari have expressed his love for Ndigbo.
What would you say are the benefits of President Muhammadu Buhari’s visit to the South-East?

The president was emphatic about his resolve to shift attention of his government to infrastructural development in South-East. He made it clear that the just approved loan by the National Assembly will be channeled towards infrastructural development of the region. As I speak to you arrangement has been concluded for the commencement of work on the Second Niger Bridge. I’m sure Buhari will do what past governments were unable to do for Ndigbo in terms of road construction.

 I pray my brothers and sisters in South-East will do the needful to maintain this cordial relationship between the region and Mr. President. This can be possible if Igbo embrace APC and vote massively for the party in 2019.
How do you feel after the President’s visit to Anambra State and the people still did not vote for APC candidate, Dr. Tony Nwoye? Isn’t that a sign that Igbo have not accepted APC in the South-East?


That shows the kind of man Buhari is. Many wished that he influences the election result in Anambra but he never did just as he did not manipulate the results in Rivers, Edo and Ondo States. Buhari obeyed the wish of Anambra people. The visit of Governor Willie Obiano to President Buhari weeks before the election was a welcome development.

 Buhari does not play politics of do-or-die hence he is not desperate about  winning at all cost as was the case with some past leaders. With the outcome of the Anambra governorship election, it is obvious that the electoral process under Buhari has improved. The President sees the entire country as his constituency. So, let’s wait till 2019 when Buhari will seek re-election whether Igbo will vote for him or not. It is too early to conclude that Ndigbo won’t vote for Buhari in subsequence elections.
You mean you are not bothered over the defeat your party suffered in Anambra?

Chukwuemeka Junior’s decision to join APC is for the best interest of Igbo. That does not mean that Ojukwu junior is not popular, but to keep Ikemba’s spirit and what he stood and died for alive, Anambrians decided to vote for APGA. Therefore, Anambra people did not vote for Obiano but Ojukwu. APGA is Ikemba’s legacy which I think Igbo vowed to sustain. I assure you that Igbo will see the importance of Emeka’s decision in 2019 because it will be the time Igbo will decide if they want to produce president of Igbo extraction or not.

What it means is that if Buhari is re-elected in 2019, the coast will be clear for Igbo to lay claim to the presidency because other geo political zones must have taken their turn. However, the South-East has no choice but to align with other geo political zones to re-elect President Buhari so that our chances will be brighter in 2023.

The result of Anambra governorship election showed that Igbo have accepted APC and have endorsed President Buhari for a second term by the result margin. APC polled closed to 25 per cent of the votes cast. If you juxtapose this with the perception of APC and Buhari by Igbo before the election, APC has been accepted by Igbo.

 
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