Thursday, August 11, 2016
Video - Nigeria Central Bank allows commercial lenders to write off bad loans
The Nigeria central bank will allow commercial banks to write off bad loans this year to help the industry clean up its balance sheet. Pressure has been building on the country's banks, whose loan books have been hard hit by Nigeria's shrinking economy and low crude oil prices. Non-performing loans are expected to jump to 12.5% of total loans this year, up from the central bank's target of 5% at the end of last year. Permission to write off the bad loans is a once-off offer that will only apply until the end of this year.
Popular Nigerian blogger released by EFCC
A prominent news blogger in Nigeria has been freed on bail following his arrest on Monday for "offences bordering on cyber-stalking".
Abubakar Sidiq Usman's arrest by the anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), was widely condemned in Nigeria.
His supporters launched a #FreeAbusidiq campaign on Twitter.
Last week, Mr Usman published allegations that EFCC acting chairman Ibrahim Magu was bullying his staff.
Mr Magu has not yet commented on the allegation.
An EFCC spokesman confirmed to the BBC that Mr Usman had been released on bail.
Mr Usman was grateful to Nigerians for speaking out against his detention of more than 36 hours, his lawyer Michael Bello told the local Premium Times newspaper.
His bail conditions required him to "make himself available to the EFCC whenever he received an invitation".
Mr Usman is an extremely popular blogger and a strong backer of President Muhammadu Buhari.
He is also a founding member of the youth wing of the governing All Progressives Congress (APC).
In a statement posted on its Facebook account after he was detained, the APC youth wing said he was being held on "spurious charges".
The EFCC was formed to investigate financial crimes and had overstepped its jurisdiction by detaining him, it said.
Mr Usman is the third blogger to be arrested in Nigeria since the Cyber Crime Act came into force in 2015, the Premium Times reported.
Abubakar Sidiq Usman's arrest by the anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), was widely condemned in Nigeria.
His supporters launched a #FreeAbusidiq campaign on Twitter.
Last week, Mr Usman published allegations that EFCC acting chairman Ibrahim Magu was bullying his staff.
Mr Magu has not yet commented on the allegation.
An EFCC spokesman confirmed to the BBC that Mr Usman had been released on bail.
Mr Usman was grateful to Nigerians for speaking out against his detention of more than 36 hours, his lawyer Michael Bello told the local Premium Times newspaper.
His bail conditions required him to "make himself available to the EFCC whenever he received an invitation".
Mr Usman is an extremely popular blogger and a strong backer of President Muhammadu Buhari.
He is also a founding member of the youth wing of the governing All Progressives Congress (APC).
In a statement posted on its Facebook account after he was detained, the APC youth wing said he was being held on "spurious charges".
The EFCC was formed to investigate financial crimes and had overstepped its jurisdiction by detaining him, it said.
Mr Usman is the third blogger to be arrested in Nigeria since the Cyber Crime Act came into force in 2015, the Premium Times reported.
UK launches 24-hour visa application service in Nigeria
The UK has launched Super Priority Visa Service in Nigeria to allow customers to process their applications within 24 hours.
The British High Commission, on its website, said the new service was to particularly meet the needs of those who required urgent service to travel.
The High Commission quoted the British High Commissioner, Paul Arkwright, as welcoming the introduction of the Super Priority Visa service in Nigeria.
"I am pleased to see the Super Priority Visa service being launched in Nigeria.
"This comes with an additional cost but is designed to give greater flexibility to our customers and underlines our strong commitment to make improvements to the visa services we offer.
"We expect this new service to be particularly useful for business. We understand that business opportunities and urgent requirements can arise at very short notice.
"We recognise this and want to facilitate such travel to the UK with this new super-fast service", Arkwright said.
The High Commission said the introduction of the service allowed customers greater flexibility to choose from a number of visa products to meet their needs.
"It is offered alongside our current Priority Visa (front of queue processing five to seven-day) and standard (15-day) services.
"The UK is the only European country to offer a visa decision in 24 hours.
"The Super Priority Visa service is aimed largely at key business customers and those needing to travel urgently by providing a visa decision for collection at the Visa Application Centre the working day following submission."
It said the service costs 750 Pounds in addition to the visa fee and would be available to eligible customers applying in the Abuja and Lagos Visa Application Centres.
The High Commission said those applying in the "Visitors" or "Points Based System Tier 4" are eligible to use the Super Priority Service.
It said appointments are available from Mondays to Thursday from 8.30 a.m. to 10 a.m. and Fridays from 8.30 a.m. to 9 a.m. at the Abuja and Lagos centres only.
"Extending the Super Priority Visa service to Nigeria is another example of how the UK is leading the world in the provision of premium visa services for those coming to the UK to visit, do business or study."
The British High Commission, on its website, said the new service was to particularly meet the needs of those who required urgent service to travel.
The High Commission quoted the British High Commissioner, Paul Arkwright, as welcoming the introduction of the Super Priority Visa service in Nigeria.
"I am pleased to see the Super Priority Visa service being launched in Nigeria.
"This comes with an additional cost but is designed to give greater flexibility to our customers and underlines our strong commitment to make improvements to the visa services we offer.
"We expect this new service to be particularly useful for business. We understand that business opportunities and urgent requirements can arise at very short notice.
"We recognise this and want to facilitate such travel to the UK with this new super-fast service", Arkwright said.
The High Commission said the introduction of the service allowed customers greater flexibility to choose from a number of visa products to meet their needs.
"It is offered alongside our current Priority Visa (front of queue processing five to seven-day) and standard (15-day) services.
"The UK is the only European country to offer a visa decision in 24 hours.
"The Super Priority Visa service is aimed largely at key business customers and those needing to travel urgently by providing a visa decision for collection at the Visa Application Centre the working day following submission."
It said the service costs 750 Pounds in addition to the visa fee and would be available to eligible customers applying in the Abuja and Lagos Visa Application Centres.
The High Commission said those applying in the "Visitors" or "Points Based System Tier 4" are eligible to use the Super Priority Service.
It said appointments are available from Mondays to Thursday from 8.30 a.m. to 10 a.m. and Fridays from 8.30 a.m. to 9 a.m. at the Abuja and Lagos centres only.
"Extending the Super Priority Visa service to Nigeria is another example of how the UK is leading the world in the provision of premium visa services for those coming to the UK to visit, do business or study."
Columbia beat Nigeria 2-0 in Olympic men's football
Nigeria and Colombia were the first and second place teams respectively going into their match on Match Day 3 of the Olympic men’s soccer tournament.
Following Colombia's 2-0 win, that did not change as both teams advanced to the quarterfinals.
Colombia got out to an early lead as Teofilo Guitierrez opened the scoring for his team in the fourth minute.
Harold Preciado nearly doubled Colombia’s lead in the 19th minute, but Nigeria goalkeeper Daniel Akpeyi made a reflex diving save to keep his side in it.
Nigeria had its best chance of the first half when Oghenekaro Etebo received the ball at the top of the box, but he dragged his shot wide of the goal.
In the 63rd minute Colombia’s Dorlan Pabon converted a penalty kick to double his team’s lead.
Colombia maintained its 2-0 lead for the rest of the second half to earn three points.
Following Colombia's 2-0 win, that did not change as both teams advanced to the quarterfinals.
Colombia got out to an early lead as Teofilo Guitierrez opened the scoring for his team in the fourth minute.
Harold Preciado nearly doubled Colombia’s lead in the 19th minute, but Nigeria goalkeeper Daniel Akpeyi made a reflex diving save to keep his side in it.
Nigeria had its best chance of the first half when Oghenekaro Etebo received the ball at the top of the box, but he dragged his shot wide of the goal.
In the 63rd minute Colombia’s Dorlan Pabon converted a penalty kick to double his team’s lead.
Colombia maintained its 2-0 lead for the rest of the second half to earn three points.
Wednesday, August 10, 2016
Subscribe to:
Posts (Atom)