The Central Bank of Nigeria (CBN) on Thursday issued regulatory guidelines for the operation of Indirect Participants in the Payments System, with effect from Nov. 11.
The apex bank made this known in a circular issued by CBN’s Director, Payments System Management Department, Mr Sam Okojere, to banks.
The Indirect Participants are payments service providers who are non-clearing financial institutions but settle their payments obligations through clearing banks.
According to the guideline, to qualify as an indirect participant, an institution shall: have a satisfactory risk-based rating from the CBN and secure a letter of recommendation from its direct participating bank, signed by the Chief Risk Officer and an Executive Director of the direct participating bank.
The bank also directed that an indirect participant expected to settle all its payments obligations through only one direct participating bank per payment scheme at any given time.
“The relationship between a direct participating bank and an indirect participant shall be governed by a Settlement Agreement.
“Where the account of an indirect participant with a direct participating bank is not adequately funded, the direct participating bank may decline further settlement services to the indirect participant and inform the payment processor accordingly.
“Except as otherwise agreed, a direct participating bank or an indirect participant shall give at least thirty 30 days’ notice to the other party before terminating the Settlement
Agreement for any other reason apart from the circumstances in 3.4.
“The terminating party shall notify the Payments Service Provider (PSP) of its intention to terminate.
“A direct participating bank and an indirect participating bank shall enter into a bilateral agreement to guide the relationship.
“Where an indirect participant connects directly to a PSP for transaction processing, the indirect participant, direct participating bank, and the PSP shall enter into a tripartite agreement”, the bank directed.
It also directed that indirect participants must process their e-reference instruments through the direct participating bank or directly, through the Nigeria Inter-Bank Settlement System (NIBSS).
“In the latter option, NIBSS shall indicate the source, (bank, indirect participant)
of the e-reference requests.
“The receiving bank shall not discriminate between e-references originating from banks and indirect participants.
“An indirect participant shall comply with the applicable provisions of the Nigeria Bankers’ Clearing System Rules (NBCS)”.
The Foursquare Gospel Church has asked Dr Boniface Igbeneghu, a senior lecturer at the University of Lagos, Akoka, to step down from all ministerial assignments.
This was released in a statement on Monday by the National Secretary of the church, Ikechukwu Ugbaja, the church dissociated itself from Igbeneghu, saying appropriate measures would be taken against him. The associate professor had been filmed making amorous advances at a ‘prospective student’ of the University of Lagos.
The ‘student’ who was actually an undercover reporter, had introduced herself to Igbeneghu as an admission seeker. She had also claimed to be 17 years old. The senior lecturer had shut the door against her and demanded a kiss, as he drew her closer to himself.
The video had attracted criticisms from Nigerians, who demanded that the lecturer be punished. The church’s national secretary said action was being taken on the matter.
He said, “The attention of the leadership of the Foursquare Gospel Church in Nigeria has been drawn to a video clip trending on social media platforms titled, ‘Sex for grades: Undercover in West Africa Universities – BBC News’ wherein a lecturer at the University of Lagos named Boniface Igbeneghu, also described as a pastor in Foursquare Gospel Church, was allegedly involved in sexual misconduct with some female students of the university.
“The general public is hereby informed that as holiness and Bible-believing church, we do not condone such heinous and unscriptural acts among our ministers. We totally dissociate ourselves from the purported conduct of Dr Igbeneghu and promise to take appropriate measures as soon as the ongoing investigation is concluded.
“Meanwhile, the pastor in question has been asked to step down from all ministerial assignments.”
The University of Lagos has suspended its lecturer who was involved in a sex-for-marks scandal. The lecturer was exposed in a video by BBC Africa where an undercover journalist, Kiki Mordi, disguised as a 17-year-old admission seeker.
The vice-chancellor of the institution, Oluwatoyin Ogundipe, confirmed the development to PREMIUM TIMES in an interview Monday afternoon.
Mr Ogundipe said the lecturer has been suspended indefinitely. “A panel will be set up to investigate the issue,” he said.
The investigation is part of a broader one that uncovers the sex for grade crises in universities in Nigeria and Ghana.
The UNILAG lecturer, Boniface Igbeneghu, is a former sub-dean of Faculty of Art and head pastor of local Foursquare Gospel Church.
Mr Igbeneghu invited the ‘admission seeker’ to his office for ‘tutorials’ and at their first meeting asked: “how old are you?”.
After responding, the lecturer commented on her appearance.
“Don’t you know you are a beautiful girl? Do you know I am a pastor and I am in my 50s but if I want a girl of 17 years, all I need is a sweet tongue and put some money,” he said.
He later continued with the harassment of the undercover reporter oblivious that he was being filmed.
Many Nigerians have called for the suspension and investigation of the lecturer.
The Federal Government has asked travellers and tourists to be careful wherever they notice the presence of Bobrisky, mostly as it affects sharing of public facilities, including toilets.
The report followed a report received by the Federal Government on how Idris Okuneye, popularly known as Bobrisky, caused a stir at the Nnamdi Azikiwe International Airport in Abuja when he used a female toilet.
While appealing to the leadership of Nigeria Medical Association to enlighten people on the dangers of women sharing public toilet with Bobrisky, the government said that by using public female toilet, Bobrisky had constituted a serious threat to women.
Otunba Segun Runsewe, Director-General of National Centre for Arts and Culture, a parastatal of the Federal Ministry of Information and Culture, raised the alarm in an interview with The PUNCH in Abuja.
He said, “Bobrisky is a serious health hazard for Nigeria and Nigerians. The health hazard Bobrisky has is worse than Ebola Virus Disease; travellers and tourists should be careful wherever they notice the presence of Bobrisky, mostly as it affects sharing of public facilities.
“Women are prone to get various types of disease from the toilet than sexual intercourse. Now, Bobrisky will enter the same toilet with a woman and at the end the woman will contract some kind of diseases.
“When she gets home and sleeps with her husband and the husband discovers he has been infected, the next thing is to seek for divorce without knowing the actual cause of how the wife was infected.”
He added, “In the first place, Bobrisky’s passport shows that he is a man. Why should he turn himself to a woman and use women’s toilets? At the end of the day, innocent Nigerian women who go to same toilet will now be infected with what they did not bargain for.
“If Bobrisky is even using men’s toilet, we can understand. As I speak, we got a report of how a woman was very upset with the Federal Airports Authority of Nigeria because on this day she saw Bobrisky using female toilet in Abuja Airport.
“Well, for me, we have done our little bit; we have left everything for the medical practitioners.”