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Dogara Condemns Bad Banking Practices, Advocates Sanctions
Yakubu Dogara, speaker of the House of Representatives, has called for action to be taken concerning prevalent banking practices which have adverse effects on business growth and entrepreneurship in Nigeria.
He made the call on Monday at the launch of a book on banking reforms by a member of the House of Representatives, Dr. Bode Ayorinde, representing Owo/Ose Federal Constituency. Dogara highlighted issues such as high lending rates and difficulties in accessing loans; and compared prevalent practices in the country with what is obtainable in other climes.
He said: “The challenge in the banking industry in Nigeria is such that it is organised in such a way that it creates buoyancy and development in other jurisdictions, not in Nigeria. I have had cause to say this before, that unless you have assets or equipment, there is no way you can take loans or access loans from Nigerian banks to do the business. If you are not careful in taking loans from Nigerian banks, one will just end up in the poverty gap.”
“I don’t think our citizens are supposed to do their businesses with money they already have in their pockets. Businesses elsewhere are executed by loans by the banking industry in those countries. I don’t know why the interest rate in Nigeria is so high. What is it that we can do to lower the cost of funds in Nigeria, so that our young men, women and entrepreneurs can risk taking money from our financial institutions in order to realise their dreams?”
Dogara queried the likelihood of success of business reforms in the country, in light of the fact that loans remain largely inaccessible to those who most require such financial aids to grow their businesses.
“I love the fact that the Vice President is chairing the council on the ease of doing business in Nigeria but in dealing with most businesses, you are forced to ask, what business are we doing? How do we fund these businesses?” Dogara said.
The Speaker, who lamented that the political will to tackle the challenge has been lacking, called on all stakeholders to work together to strengthen the various institutions within the country in line with international best practices.
His words: “That has been the challenge, from the point of view of the Executive down to the Parliament, the political will to address this has not been there. And the answer has always been that just one opinion cannot solve the issue, all hands need to work at it. We cannot afford to continue having weak institutions in Nigeria, not after so many years of having balance.”
“So I believe that concerning some of these borrowing voyages such as been embarked upon recently can be avoided by applying the required formulas that work even here in Nigeria. The sharp parallel that is drawn between the practice here in Nigeria and the practices in over 20 other jurisdictions of the world.”
The event also had in attendance the Vice President, Professor Yemi Osinbajo, and the governor of Ondo State, Rotimi Akeredolu, among several other dignitaries.
The Enugu State government has inaugurated a steering committee to eliminate Gender-Based Violence, GBV, in the state, declaring zero tolerance for the social malaise.
The inauguration took place at the Government House Enugu.
The panel, which is chaired by the Commissioner for Children, Gender Affairs and Social Development, Mrs. Ngozi Enih, draws its membership from the Nigeria Police Force, Ministry of Agriculture and Agro Industrialisation, Ministry of Local Government, Rural Development and Chieftaincy Affairs, Ministry of Human Development and Poverty Reduction, Ministry of Trade, Investment and Industry, Ministry of Justice, Ministry of Health, Ministry of Education as well as the Civil Society.
Inaugurating the panel known as the Steering Committee for Strengthening Institutional and Community Responses to End Gender-Based Violence/Domestication of Enugu State Gender Policy using the Oputa Panel approach, Governor Peter Mbah restated his administration’s commitment to not bringing perpetrators of GBV to book, but also putting in place proactive measures – activities, infrastructure, and systems in place to prevent them.
Mbah, who was represented by the Secretary to the State Government, Prof. Chidiebere Onyia, said, “We take gender-based violence seriously. We have zero tolerance for it, and in Enugu State, we are ready to go the extra mile to deal with it.
“If you notice, the government has selected people that are very committed to this goal. This is not an activity where we just want to check-off the list. We will track this. We will monitor this, and we will have quarterly engagements on the successes that this particular committee has achieved in terms of reference that we are going to send.
“We will tighten those terms of reference indicators, so that we monitor what we are doing both in terms of cost input and the value added. It’s very important to us. Many people will be involved – civil society, the police and various ministries.”
He however, said that the effort was to protect everyone, men and women alike, as GBV was not restricted to any gender.
“The whole idea is to hold people responsible that are involved in matters relating to gender violence and deter people that by culture or by association get involved in that, protect women, protect our children, and in the case of violence against men, protect our men because most times we misconstrue gender violence to mean women, but it can also be men too.
“We encourage our men to speak out and to make sure they understand that the policy that Enugu State is soon going to domesticate is for everyone, and not only for the female gender,” he stated.
In her remark, Mrs. Enih, explained that the Oputa Panel approach was inspired by the need to cover all local peculiarities in domesticating the policy on GBV, restarting government’s confidence in the members of the panel.
“The approach we are going to use is the Oputa Panel approach, and in the Oputa Panel approach, we are going to tour the 17 Local Government Areas to get firsthand information about what our people are going through because policy is meant for the people, and a policy should suit the people.
“Again, every community has its peculiar problems, so that’s why the government decided that if we have to domesticate the gender policy, we have to hear from the people who own the policy and know the changes that they desire to see. That is the reason we are using this approach.
“The committee members are to also serve as judges. As we gather this information from our people, we will come back to tailor it in a way to suit the people of Enugu State, and then our policy is ready.
“We want the people to know that there is a gender policy for them. I can assure you that when the people are aware that there is such a policy, they will seek for the enforcement of that policy. So, this is not going to be one of those policies that will just lie on the shelf,” she said.
Digital solutions provider, Globacom, has congratulated Christians in Nigeria on this year’s Easter celebration, and urged them to emulate the noble qualities of Jesus Christ.
The company, in a goodwill message to the Christian faithful in the country, lauded their perseverance through the Lenten period which preceded Easter. It enjoined them to always promote the ideals of selflessness, love and peace among all as a way of demonstrating the virtues of the exemplary life of Jesus Christ.
“Peace, love and sacrifice are the central message of Easter. Christ offered himself in atonement for the sins of the world and he lived a life which made Him an eternal symbol of peace and goodwill for mankind”, Globacom added.
The company enjoined all Nigerians to share in the lessons of promoting selflessness, a necessary ingredient in the growth and development of every society. It also enjoined all Nigerians to join hands to make Nigeria a better place for all.
Easter is celebrated yearly at the end of the Lenten season of fasting and prayer considered as a ritual of purification for the Christian faithful. It also precedes the crucifixion of the Lord Jesus Christ on Good Friday and His eventual resurrection on Easter Sunday.
The company assured its customers of seamless voice, data and Short Messaging Service (SMS) during and after the Easter celebrations, while urging them to avail themselves of the various data and voice offerings on the network.
The Guild of Private Broadcast Managers has extended its heartfelt congratulations to the Nigeria Union of Journalists (NUJ) as it celebrates its 70th Anniversary.
In a congratulatory message signed by the Guild’s National President, Ambassador Patrick Uzoyi-Peters, JP MNGRM, the guild described the milestone as a testament to the NUJ’s unwavering commitment to upholding press freedom, journalistic integrity, and the advancement of democracy in Nigeria.
“For seven decades, the NUJ has played a pivotal role in shaping the media landscape, advocating for the rights and welfare of journalists, and ensuring that the voice of the people remains strong and unyielding. Your resilience, professionalism, and dedication to ethical journalism have been instrumental in fostering transparency, accountability, and national development”.
Celebrating this historic achievement, the Guild’s President, Uzoyi-Peters recognized the sacrifices and contributions of journalists across the nation who work tirelessly to inform, educate, and empower society.
The Guild reiterated it commitment towards collaborating with the NUJ in promoting responsible journalism and strengthening the media industry for the greater good.
While wishing the NUJ continued success, growth, and greater impact in the years ahead, President Uzoyi-Peters prayed that the anniversary serve as a renewed call to uphold the principles of truth, fairness, and press freedom in our collective pursuit of a more informed and just society.
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