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NDE To Give N4.2m Loan To Small Scale Business Owners In Bauchi

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NDE To Give N4.2m Loan To Small Scale Business Owners In Bauchi
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NDE To Give N4.2m Loan To Small Scale Business Owners In Bauchi

Malam Abubakar Nuhu Fikpo, the Director General, National Directorate of Employment (NDE) has directed the directorate to give out the sum of N4.2m as a loan to 168 small scale business owners in Bauchi state.

Mr Lawan Yaya, the state Coordinator of NDE, disclosed this in an interview with newsmen in Bauchi on Friday.

Yaya explained that Malam Abubakar Nuhu Fikpo, who was wrongly addressed as Nasir Argungu, D-G, NDE, in an earlier report published (not this medium) gave the order to embark on the programme with a view to assisting the beneficiaries on how to maintain and manage their small businesses.

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He revealed that each of the selected individuals would be given the sum of N25,000.

“We were directed by Director General, Malam Abubakar Nuhu Fikpo to run a programme where we will be recruiting 168 people.

“Basically, we want to enhance them with a soft loan of N25,000 each for small businesses.

“Our intention is to assist them on how to maintain and manage their own small businesses,” he said.

The state coordinator appreciated the D-G for his foresight in alleviating the economic hardship of the people, praying God would continue to grant him more empowerment ideas that would help the youth and women in the country.

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Yaya further revealed that the directorate had also concluded plans to recruit 50 graduates in order to sensitise them on business enterprises.

“This is because most of the graduates don’t have business expertise and some of them will say if they have money, they will do a particular business.

“We just want to sensitize them on how to run and mitigate some risks in their businesses.

“We want to also recruit one hundred people which includes both graduates and non graduates for yet another sensitization programme.

“This programme is NDE in collaboration with Nasir Saj Nigeria Limited and we will sensitise them on business enterprises which is how to manage their businesses.

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NDE To Give N4.2m Loan To Small Scale Business Owners In Bauchi

“This programme will help them to look for loans in other financial agencies like CBN Nirsal programme currently running a loan package where people without business ideas are not considered with the loan.

He added that NDE was serving as a gateway for the beneficiaries of the programme to obtain the loan, thanks to the astute initiative of the D-G, Malam Abubakar Nuhu Fikpo.

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CBN rejects account opening for BVN violators

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CBN rejects account opening for BVN violators
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CBN rejects account opening for BVN violators

The Apex Bank in Nigeria, Central Bank of Nigeria (CBN) has barred BVN Violators from from opening a new bank accounts going by its fresh rule.
The new policy is contained in a Revised Regulatory Framework for Bank Verification Number (BVN) operations and Watch-List for the banking industry released by the apex bank in its Update Report circular.

According to the apex bank, the new framework has been designed to enhance the effectiveness of customer due diligence and Know Your Customer (KYC) processes.

it therefore described the policy as part of its overall strategy for promoting a safe and efficient banking and payment system.

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In the circular, the Director, Payments System Management Department, Musa Jimoh, explained that the watch-list is a database of customers identified by their BVNs, who have been involved in confirmed cases of breaches.

He explained that under the new framework, breaches on the part of customer could see the individual getting barred from entering a new relationship with any participant (banks).

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INTERPOL Elects Baba Umar As Vice President For Africa

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INTERPOL Elects Baba Umar As Vice President For Africa
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INTERPOL Elects Baba Umar As Vice President For Africa

INTERPOL has elected Nigeria’s Assistant Inspector General of Police, AIG GARBA Baba Umar as the Vice President (Africa) and Executive Committee Member of the International Criminal Police Organization (ICPO) – INTERPOL.

Umar was the Head of INTERPOL National Central Bureau (NCB), Nigeria.

A statement by the Force Public Relations Officer, CP Frank Mba on Thursday said Umar was elected in the early hours of that day “in the 89th INTERPOL General Assembly currently holding at the Halic Congress Hall, Istanbul, Turkey”.

The statement said, “The year 2021 General Assembly, which have in attendance 470 Police Chiefs, Ministers and Senior Law Enforcement Officials from the 195 INTERPOL member countries, seeks to identify areas where the organization can reinforce the global security architecture and enhance collaboration against national and transnational crimes.

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INTERPOL Elects Baba Umar As Vice President For Africa

“AIG Garba, one of Nigeria’s finest criminal investigators and professional strategic police manager, with over thirty (30) years policing experience both at national and international levels, polled the highest number of votes in the elections. With this appointment, which will span through a period of 3yrs, AIG Garba is expected to bring his wealth of experience to bear in coordinating INTERPOL operations targeted at ensuring a safer world for people and communities across the African continent.
“This is in addition to drawing international policing support and cooperation towards advancing public safety and security, protecting the cyberspace and generally addressing challenges faced by law enforcement officers and policing managers in the continent.

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“The Nigeria’s delegation to the 89th INTERPOL General Assembly was led by the Honourable Minister of Police Affairs, Muhammad Maigari Dingyadi, ably supported by the Inspector General of Police, IGP Usman Alkali Baba, psc (+), NPM, fdc. The other members of the delegation are: the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa and the Chief of Naval Staff, Vice Admiral Awwal Zubairu Gambo (represented by the Naval Provost Marshal).”

INTERPOL Elects Baba Umar As Vice President For Africa

INTERPOL Elects Baba Umar As Vice President For Africa

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FCMB Sees Flat Loan Growth, Eyes UK Licence

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FCMB Sees Flat Loan Growth, Eyes UK Licence
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FCMB Sees Flat Loan Growth, Eyes UK Licence

A mid-tier lender, First City Monument Bank, expects loan growth to be flat this year — down from last year’s 5.4 per cent rise — as oil companies pay down debt, according to its Group Chief Executive Officer, Ladi Balogun.

Balogun said the bank would focus on retail banking with a higher margin this year to make up for a drop in government bond yields as the lender might not be able to write large loans quickly enough to counter-balance repayments by oil firms.

He said the economy was improving after the country experienced its worst recession in a quarter of a century in 2016, which should boost consumers, Reuters reported.

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“We expect to see large repayments in the oil and gas sector this year. We agree that the (economy) will be improving but largely because of chunky pay-down; we don’t think we would be able to replace quickly,” he told an analyst call, adding, “We are pushing more in the area of retail banking.”

Balogun said the group was seeking to convert its wholesale banking unit in Britain, FCMB UK, into a retail bank, as part of its push to grow its balance sheet and tap into non-institutional customers in Britain.

He stated that the impact of the British strategy would not be immediate but would enable the lender to achieve incremental growth.

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