Category Archives: Featured

Bank customers laud Senate directive on ATM maintenance charges

Bank customers laud Senate directive on ATM maintenance charges

Bank customers have expressed gratitude to the Senate for its directive to the Central Bank of Nigeria to suspend the monthly Automated Teller Machine card

$12.7bn crude stolen from Nigeria in three years – Falana

$12.7bn crude stolen from Nigeria in three years – Falana

HUMAN rights lawyer and Senior Advocate of Nigeria, Femi Falana, on Thursday alleged that $12.7bn worth of crude oil was stolen from the country between

Brazil to inject $1.1bn into Nigerian agriculture

Brazil to inject $1.1bn into Nigerian agriculture

The Brazilian Ambassador to Nigeria, Ricardo Guerra de Araujo, says Brazil will soon inject 1.1 billion dollars into Nigeria’s agriculture. The envoy said on Thursday

What you need to know before opening a domiciliary account

Things to know before opening a domiciliary account

A domiciliary account is a type of current account that allows you to fund it with foreign currencies such as dollars, pounds or euros and

Lagos to shut down unlicensed operators: Lotteries

Lotteries: Lagos to shut down unlicensed operators

The Lagos State Lotteries Board has vowed to continue the shut down of unlicensed gaming operators, stressing that the activities of illegal operators are inimical

Stock market reopens bearish, indices down by N16 billion

Stock market reopens bearish, indices down by N16 billion

Following renewed profit taking by investors on the Nigerian Stock Exchange (NSE), equity transactions reopened for the week on a downward note, causing market capitalisation

INEC boss seeks efficient election funding model in ECOWAS

The President of the ECOWAS Network of Electoral Commissions (ECONEC) Prof. Mahmoud Yakubu, said it was imperative for Electoral Commissions in the ECOWAS region to rethink the way elections were funded. Yakubu, who is also Chairman of the Independent National Electoral Commission (INEC), gave the advice in his remarks at a workshop to validate the study on the cost of elections in the ECOWAS region undertaken by ECONEC on Monday in Abuja. He said that such should be done in a manner that would make the electoral process more cost-effective but yet free, fair and credible. “This is because of the contending expenditure of government on other aspects of national development. “An expensive election that ushers in a Government that lacks the resources to fulfill its campaign promises to citizens may, in the long run, erode public confidence in elections in particular and the democratic process in general. “The obvious first step is to conduct a study on why elections cost so much. From such a study, we can then determine what can be done to reduce the cost.” Yakubu said that the task of meeting the rising cost of elections has increasingly challenged the national resources of many countries in the ECOWAS region. He said that it was borne out of the serious concern by all Electoral Commissions in the sub-region about the spiraling cost of conducting elections that the ECONEC’s two-year Work Plan (2016-2018) was being revalidated. Yakubu said that with every cycle, the cost of elections kept rising thus making many countries unable to fund critical aspects of the electoral process as a sovereign responsibility. These, according to him, include ever rising cost of voter registration and the compilation of a credible voters’ register, recruitment, training of electoral officials and provision of electoral logistics, Others are election security, civic and voter education, procurement of sensitive and non-sensitive materials, deployment of electoral technology, undertaking regular engagement with stakeholders and handling of pre-election and post-election litigation. He said that it was against the aforementioned that the Governing Board of ECONEC inaugurated the study to explore means to reduce the cost of elections. He explained that the study was not intended to jettison new innovations or compromise the quality, transparency and credibility of elections. Yakubu said that ECONEC had undertaken NEEDs Assessment, Solidarity and Mid-term Review missions to several member-States. “The objective is for Election Management Bodies in our sub-region to share experience, expertise and even pool resources with a view to ensuring best practice through peer review. “It is also in order to reduce the cost of conducting elections among our member-States.” Yakubu said that it was in the spirit of cooperation that Burkina Faso assisted neighbouring Niger Republic with ballot boxes and the printing of the voters’ register for the February 2016 presidential and parliamentary elections. “Similarly, Ghana provided support to the Republic of Liberia with the printing of the voters’ register for the October 2017 presidential and parliamentary elections. “Indeed, INEC Nigeria assisted the Republic of Liberia with the deployment of ICT Experts to clean up the disputed voters’ register in order to break the logjam to the conduct of the December 2017 Presidential run-off. “At a bilateral level, countries within the region have also provided material and technical assistance to one another to support the conduct of credible elections. “The latest example is Nigeria’s support for the ongoing voter registration exercise in Guinea-Bissau.” Yakubu commended ECOWAS for the support to ECONEC and for championing the idea of pooling electoral resources together in support of the electoral process in the region. He said that the idea of pooling resources (ballot boxes, vehicles for electoral logistics etc) together to be deployed in support of elections in countries within the region on the basis of need was now more urgent than ever before. “ECONEC is in full support of the establishment of an election materials depot in Lungi, Sierra Leone, where some facilities such as trucks for electoral logistics already exist. “We support this initiative and would cooperate with ECOWAS for its actualization in line with the organisation’s mandate on electoral assistance to member-States.”

The President of the ECOWAS Network of Electoral Commissions (ECONEC) Prof. Mahmoud Yakubu, said it was imperative for Electoral Commissions in the ECOWAS region to

What you need to know about getting your past and future shares dividends

shares dividends paid into your bank account

All you need to know about getting your past and future shares dividends paid into your bank account This year I decided to stop leaving

Jos trade fair: 300 foreign exhibitors to participate

Jos trade fair: 300 foreign exhibitors to participate

No fewer than 300 exhibitors from seven countries would participate in the 2018 Jos Trade Fair, an official said. Ms Bolchit Barshep, the MD/CEO of

Aviation College certificate: NCAA lifts suspension

international-aviation-college

The Nigerian Civil Aviation Authority (NCAA) has partially lifted the suspension on International Aviation College, Ilorin, Approved Training Organisation (ATO) certificate. Mr Sam Adurogboye, General

Stable exchange rate best choice for Nigeria – Emefiele

Stable exchange rate best choice for Nigeria – Emefiele

The Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele, says maintaining stable exchange rate to avoid depreciation of the Naira is better than building

IVH SME Fair Holds December

IVH SME Fair Holds December

The IVH SME Fair 2018, designed to showcase emerging and existing entrepreneurs in all sectors of entrepreneurial ventures in the Lagos small and medium scale

ADVAN announces 8th edition of Marketing Excellence Awards; calls for entries

ADVAN announces 8th edition of Marketing Excellence Awards; calls for entries

The Advertisers Association of Nigeria (ADVAN) has announced the commencement of preparations for the 8th edition of its Awards for Marketing Excellence. The ADVAN Awards

IMF cuts Nigeria’s growth projection to 1.9% over poor performance

IMF cuts Nigeria's growth projection to 1.9% over poor performance

The IMF said the Africa’s largest economies – Nigeria, South Africa and Angola – are holding down the growth rate of the continent. IMF cuts