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‘I’m ready to be World Bank President!’ – Okonjo Iweala declares

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Nigeria’s former Finance Minister and ex Vice President of the World Bank, Ngozi Okonjo-Iweala, says she’s ready to assume the number one position of the institution.

Mr. Jim Yong Kim, who was re-appointed World Bank President for a five-year term on July 1, 2017, has announced that he will be stepping down from the role on February 1, 2019, and Okonjo-Iweala says she’s ready to succeed him.

Iweala

“If the right person were to nominate, and if the circumstances are right and people feel I can do the job, yes”, Okonjo-Iweala told CNN’s Richard Quest on the sidelines of the World Economic Forum in Davos, Switzerland, when the question regarding her readiness for the job was posed.

“I know that, because I contested the last time in 2012, and many people were asking that question. It is a shareholder’s decision and they have to decide how they want it. Someone has to nominate,” she said.

When Quest asked if she has declared her candidacy, Okonjo-Iweala said; “No, I have not declared my candidacy. You asked a hypothetical question and I answered it fairly. I’m very happy right now, and I just want you to know that I’m enjoying life for a change for a portfolio of what I like.”

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Tramadol and Codeine found in remains of Boko Haram suicide bombers – NAFDAC

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Tramadol and Codeine found in remains of Boko Haram suicide bombers - NAFDAC

The National Agency for Food Drug Administration and Control (NAFDAC) On Monday October 14, revealed that tramadol and codeine were often found in the remains of suicide bombers contracted by Boko Haram insurgents.

 

Prof. Mojisola Adeyeye, the agency’s Director-General who spoke during a courtesy visit to Oyo State Governor Seyi Makinde, said the importation of the illicit drug had a dramatic increase after NAFDAC was barred from the Nation’s ports for over 7 years.

 

“We have had a lot of problems that predated me and one of the problems is that NAFDAC was removed from the ports for seven years (2011-2018) and the damage that was done during the seven years, we are still mopping the damage, as we speak. I never knew that I would come home and start battling tramadol, codeine, that have destroyed so many young lives and I have often told people that Nigeria cannot be greater than her youths.

“So, I take this very personally and for the first five months I was running to ensure we returned to the ports and the NSA office came to help us because we found out that even our children the Boko Haram sent on suicide mission, that their remains contain tramadol. So, it is not about destroying the future alone, it is terrorism. It is destabilisation of the community. But we are able to go back into the ports” she said.

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NIMC: National ID Card Replacement Costs N5,000

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The National Identity Management Commission, says the renewal of the National Identity Card will cost five thousand naira (N5,000) payable through remita.

This was disclosed by its tweeter handle (@nimc_ng) monitored by the News Agency of Nigeria in Abuja on Monday, and confirmed by a staff of the Corporate Department of the NIMC.

NIMC also said that applicants who wish to renew their card can visit any NIMC office with the required documents to obtain their card.

” The requirements include a written application with attached proof of payment receipt made through remita, bank teller, NIN slip and submit it at our office.

” Card renewal costs N5,000 payable through remita.” NIMC tweeted.

The tweet also explained that the main focus of the commission was to ensure that all Nigerians are enrolled.

” Our main focus is ensuring that all Nigerians are enrolled and issued their NIN and Your NIN is the most important token of your enrollment.

According to the commission, Nigerians can authenticate their National Identity Number through the NIMC verification portal.

”Your NIN can be authenticated through our verification portal without your card” NIMC tweeted.

” You will be issued your cards when funds permit, Please bear with us and Your NIN is generated immediately for you upon successful completion of your enrolment.”

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CBN issues fresh guidelines on payments system

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CBN Headquarters Abuja

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)”.

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