Mr Olumide's Blog .com |
- CBN bars banks with huge bad loans from paying dividends
- CCTV Catches Couple Robbing Commutters In Lagos
- How 'Juju' Hinders Successful Prosecution of Human Traffickers - NAPTIP
- 50-Year-Old Woman Gets Married For The First Time In Port Harcourt
- Things You Shouldn’t Do When You Travel
- PRAYER FOR TODAY
- How To Find True Joy In A Lonely World
- Meet Woman Who Designed Nigeria's First Unmanned Aerial Vehicle
- NHIS Boss in Fresh Scandal Over Withdrawal of N10Billion
| CBN bars banks with huge bad loans from paying dividends Posted: 19 Feb 2018 12:26 AM PST  This is due to the rising non-performing loans and the need to stop further erosion of the capital base of the banks and discount houses. The directive is coming barely a week to the release of the 2017 financial year's annual reports by commercial banks and discount houses in the country. The development has dashed the hope of many shareholders as a number of the banks will be affected by the directive and consequently unable to pay dividends. The CBN said the move was aimed at stemming the tide of rising non-performing loans and the consequent weakening and erosion of the banks' capital base. The directive was handed down in a letter dated January 31, 2018. In the letter to the banks and discount houses, which was signed by the Director, Banking Supervision Department, CBN, Ahmad Abdullahi, the regulator said it had observed that rather than grow their capital with retaining earnings, some banks were paying out a greater proportion of their profits, irrespective of their risk profile and the need to build resilience through adequate capital buffers. As a result, the apex bank barred the DMBs and discount houses with the NPLs above 10 per cent from paying dividends to their shareholders. The CBN's minimum NPL threshold for banks is five per cent, meaning lenders' bad loans should not exceed five per cent of their loan books. As of September 2017, the banking industry's NPLs had hit 15.18 per cent. The level of the NPLs in banks rose by 50 per cent to N2.4tn from N1.6tn in December 2016, according to the Nigeria Deposit Insurance Corporation's data. The CBN, in the latest circular, also directed that banks and discount houses, which did not meet the regulator's minimum Capital Adequacy Ratio, not to pay dividends to their shareholders. The CBN sets different minimum CARs for banks in the country: 16 per cent for those it considers to be systemically important; 15 per cent for those with international banking licences; and 10 per cent for the rest. The circular, which was made public on Sunday, read in part, "Globally, retained earnings have been identified as an important source of growing an institution's capital. Advantages of retained earnings include being a source of long-term finance; being easier and cheaper to raise than external finance; curtailment of financial risks; and improving liquidity and profitability. "However, it has been observed that rather than take advantage of this beneficial means of capital generation, some institutions pay out a greater proportion of their profits, irrespective of their risk profile and the need to build resilience through adequate capital buffers." It added, "In order to facilitate sufficient and adequate capital build up for banks in tandem with their risk appetite, the following directives will now apply: "Any Deposit Money Bank or discount house that does not meet the minimum capital adequacy ratio shall not be allowed to pay dividend. "The DMBs and DHs that have a Composite Risk Rating of 'High' or a non-performing loan ratio of above 10 per cent shall not be allowed to pay dividend. "The DMBs and DHs that meet the minimum capital adequacy ratio but have a CRR of 'Above Average' or an NPL ratio of more than five per cent but less than 10 per cent shall have dividend pay-out ratio of not more than 30 per cent. "The DMBs and the DHs that have capital adequacy ratios of at least three per cent above the minimum requirement, the CRR of 'Low' and the NPL ratio of more than five per cent but less than 10 per cent, shall have dividend pay-out ratio of not more than 75 per cent of profit after tax." "There shall be no regulatory restriction on dividend pay-out for the DMBs and the DHs that meet the minimum capital adequacy ratio, have a CRR of 'Low' or 'Moderate' and an NPL ratio of not more than five per cent. However, it is expected that the boards of such institutions will recommend pay-outs based on effective risk assessment and economic realities. "No DMB or DH shall be allowed to pay dividend out of reserves. "Banks shall submit their board-approved dividend pay-out policy to the CBN before the payment of dividend shall be permitted. All ratios shall be based on financial year averages. This circular takes immediate effect."  culled from Olu famous Mr Olumide's Blog |
| CCTV Catches Couple Robbing Commutters In Lagos Posted: 19 Feb 2018 12:01 AM PST  The police said the suspects – Segun Latoye and Toyin Samuel –were arrested on Friday after being caught on camera three times in Oshodi dispossessing passersby of their belongings. "On the last footage, they dispossessed a young lady of her bag containing two mobile phones and some amount of money. "They were captured by camera hurriedly boarding a bus after hypnotising their victim. However, the lady regained her consciousness a few minutes later and reported the incident to RRS officers who contacted the mobile CCTV van for footage of the area where the incident took place. "Their pictures were shown to selected people in Oshodi. Those people were asked to contact RRS officers whenever they noticed the suspects in Oshodi. "The suspects, who claimed to be husband and wife, confessed to the crime after seeing their video," the RRS said on Sunday. The police added that two other suspects – Jelili Ganiu (19), and Samson Owolabi (23) – were arrested in the area after being caught by the CCTV for related offences. The duo were reportedly spotted stealing a mobile phone from a passerby on a pedestrian bridge in the Oshodi area. They were said to have been monitored through the CCTV passing the stolen item to another suspect, said to be at large. The men were later trailed by policemen and arrested at the pedestrian bridge. The Lagos State Police Public Relations Officer, SP Chike Oti, confirmed the arrests. He noted that the command would continue to apply technology in combating crime, adding that the suspects would be charged to court at the end of investigation.  culled from Olu famous Mr Olumide's Blog |
| How 'Juju' Hinders Successful Prosecution of Human Traffickers - NAPTIP Posted: 18 Feb 2018 11:46 PM PST  Okah-Donli who spoke at a public lecture in commemoration of the 60th birthday celebration of Captain Idahosa Wells Okunbo, held at the University of Benin, disclosed that obtaining victims' testimonies for prosecution and conviction of offenders is becoming very difficult. Her lecture was titled; "Youth Migration, Deportation and Rehabilitation: The Way Forward." She blamed government at all levels for not doing enough to stem the ugly trend of human trafficking, even as she criticized the media for not giving enough publicity to the dangers associated with it. "Prosecution of human traffickers is usually difficulty. Their conviction is based on victim's testimony which is hard to obtain because of the control mechanism adopted by traffickers, the most popular which is the use of juju by traffickers to control the victims. "Human trafficking is usually under reported and given very lower priority by government at all levels," she said. The NAPTIP boss however announced that the agency has achieved a milestone by convicting 339 persons, with many other cases still pending in courts.  culled from Olu famous Mr Olumide's Blog |
| 50-Year-Old Woman Gets Married For The First Time In Port Harcourt Posted: 18 Feb 2018 11:26 PM PST  Reports indicate that the Port Harcourt-based woman is actually 50 years old and has never been married before. The woman was reportedly overwhelmed with joy as she wore a wedding gown for the first time in her life, considering her age. Their wedding took place at the Omega Power Ministry in Port Harcourt, Rivers state.  culled from Olu famous Mr Olumide's Blog |
| Things You Shouldn’t Do When You Travel Posted: 18 Feb 2018 09:31 PM PST  Jumia Travel shares 4 things you shouldn't do when you travel. Don't Take Photos of People Without Their Permission Just because you think the person would make a beautiful subject or add some liveliness to your photo or video, doesn't mean you should take photos or videos of people without their permission. You should first put the camera or smartphone aside and politely ask for their permission to take their photos or include them in your videos, and be respectful if they decline. Try Not to Litter Honestly, this should go without saying, nevertheless, it is important for you to refrain from tossing your garbage indiscriminately around your environment. There are areas that have strict rules/laws about carrying out accumulated garbage and properly disposing of it, and it can be quite embarrassing to be harassed in these places because of littering. Don't Skip the Local Tourist Office The local tourism office is one of the best places to get advice on current events, festivals, and information you're likely not going to find in a guidebook or by just asking random people. This is because the job of those working at the local tourism office is literally to know everything about the place you're in, so when you get to a new city, be sure to go the tourism office to get information on what to see and do, and where the deals are. They can also help you with maps and discount cards as well as help you to book accommodations. This can easily help you save time and find a more rewarding and cheaper travel experience. Try Not To Eat Near Major Tourist Sites This is because the food sold near major tourist sites are more often than not sold at double the price. In addition to this, the flavour and quality of the meal is unlikely to be consistent since the restaurants know that majority of the tourists visiting are unlikely to come back, so the incentive to be top-notch is more or less lacking. However, if you eat at local, 'non-touristy' restaurants instead, the flavour and quality of the meal is likely to be higher because they know that if it is anything less, locals will stop eating there.  culled from Olu famous Mr Olumide's Blog |
| Posted: 18 Feb 2018 09:31 PM PST   culled from Olu famous Mr Olumide's Blog |
| How To Find True Joy In A Lonely World Posted: 18 Feb 2018 06:21 AM PST  Seasons of loneliness leave us vulnerable – we begin placing our trust in things or people other than God. In one such lonely season of my life, I began to rely on the people around me more than the Father who placed them there. Suddenly, their opinions mattered the most to me. I began blindly following their advice, assuming my best interest was always at the center of their universe. What the Bible Says about Loneliness God's Word has such comforting, clear words for our loneliness. When we find ourselves in desperate hours of loneliness, whether dealt by our own hand or unfairly by the sinful world we live in, God promises to hear our cries. Sometimes, we just need to get quiet enough to hear His answers. Though our loneliness may leave us feeling isolated, it is through that time of silence God may choose to speak most audibly to us. Hannah, whose story we read about in 1 Samuel, knew a thing or two about loneliness. Unable to bear children, being around friends and family was a constant reminder of what she lacked. Like many of us, she was not alone but felt lonely regardless. In addition, Penninnah, her husband's other wife, teased her incessantly about her infertility. Loneliness can make us feel hopeless, just as Hannah felt. But in the midst 1 Samuel 1:11, is the word, 'remember.' Our God, the Commander of heavenly armies, remembers us. The NIV Study Bible Notes states, "To remember is more than simply to recap that Hannah existed. It is to go into action on her behalf." God surely did hear Hannah's prayer. 1 Samuel 1:19b says, "…the Lord remember her." Hannah conceived a child, and named him Samuel, because she asked the Lord for Him. (1 Samuel 1:20) Why God Allows Us to Feel Lonely In my season of loneliness, God isolated me even further to reset my scope of reality. There were some idols in my heart that needed to be torn down. Lies that could only be debunked, deleted, and replaced through time spent in search of God's Truth. It was by no power of my own, but through Christ in me. His compassion to walk the earth and sacrifice His life for ours, gives us full access to the Father. The Holy Spirit resides in those who follow His feet, and that is where the power to pull out of a season of loneliness lies. We can be authentic and raw with God when life's rug is pulled out from underneath us. Whether we are lonely due to loss, failure, confusion, addition, divorce, abandonment, abuse, or any matter of confusion or mistreatment, we can hit the floor and unravel before Him. Life can be overwhelming, confusing, and unfair, but Psalm 91:11 assures us, "He will order His angels to protect you wherever you go." We are worth protecting. How God Comforts Us in Our Loneliness There are many seasons in life that can make us feel lonely outside of barrenness. We can feel lonely when we are single or married; friendless or popular; successful or stuck; healthy or chronically sick. Loneliness has a lot to do with our perspective, which can become miss-aligned when we feel alone or abandoned. Scripture provides us with ample reminders of God's uninterrupted presence. Reading God's Word in these circumstances can shift our demeanor from inward disdain to outward praise. "O Lord, open his eyes so he may see," the prophet Elijah prayed of his panicking servant in 2 Kings 6:17. The Aramean army was closing in on them, and his servant couldn't see a solution. "Then the Lord opened the servant's eyes, and he looked and saw the hills full of horses and chariots of fire all around Elisha." When loneliness threatens to water seeds of fear and cut down branches of hope, we can rest assured that God remembers us. After Hannah gave birth to Samuel, she prayed, "There is no one holy like the Lord; there is no one besides you; there is no Rock like our God" 1 Samuel 2:2. He is our Rock, "the unfailing source of security for His people" (NIV Study Bible Notes). He will never fail to remember us. How to Find Joy I found my joy in the Lord, who remembered me. He not only heard me, but acted so many times on my behalf. His personal touch stunned me. In my season of loneliness, He isolated me so that I was able to remember Him. My Rock, who commands angel armies, gave me the strength I needed to clutch onto joy again. My Savior, who promises never to leave me, sustains me when I cannot hold myself together. My God, who promises a purpose for my life greater than I can imagine, continually restores my joy. Our Almighty Father will pull us through every season of loneliness. If we'll follow His lead, through the power of the Holy Spirit that dwells within us through Christ, I believe we will walk out of every lonely season stronger than we once were. [written by Meg Bucher]  culled from Olu famous Mr Olumide's Blog |
| Meet Woman Who Designed Nigeria's First Unmanned Aerial Vehicle Posted: 18 Feb 2018 05:56 AM PST  The beautiful woman has a PhD in Control Engineering from the University of Leicester. As part of the Federal Government efforts to tackle insecurity in the country, President Muhammadu Buhari has unveiled a surveillance Unmanned Aerial Vehicle (UAV) produced locally by the Nigerian Air Force Institute of Technology. The UAV codenamed TSAIGUMI is the first Unmanned Aerial Vehicle to be produced in the country and will be used to fight terrorism, armed banditry and other sophisticated crimes through enhanced air surveillance. It could also be used for policing operations, disaster management, convoy protection, maritime patrol, pipeline and power line monitoring as well as mapping and border patrol duties. In addition, it could be deployed for the protection of wildlife, weather forecast and telecast. Additionally, in the maritime domain, the Tsaigumi UAV could be used for search and rescue, coastal monitoring and patrol of Nigeria's Exclusive Economic Zone. The UAV, which is capable of day and night operations, has an operational endurance in excess of 10 hours, a service ceiling of 15,000 feet and a mission radius of 100km.  It has a maximum take-off weight of 95kg and its payload is an electro-optic/infra-red camera system.  culled from Olu famous Mr Olumide's Blog |
| NHIS Boss in Fresh Scandal Over Withdrawal of N10Billion Posted: 18 Feb 2018 05:56 AM PST  According to documents obtained by SR, the funds, kept in the Federal Government's Treasury Single Account (TSA), were withdrawn in two installments. The funds are made up of the 10 percent medical allowance due to federal civil servants. The deductions were stopped in 2006, with the funds handed over to the NHIS to use in providing health insurance coverage to federal civil servants. Documents obtained by SaharaReporters showed that the first withdrawal of N5billion was made on December 28 2016, a few months after Professor Usman assumed office as Executive Secretary. Sources in the NHIS said he made out as though he was ready to get the withdrawal reversed, but ended up not doing so. The second withdrawal, also of N5 billion, was made on January 28 2018. Sources alleged that the second withdrawal had the imprimatur of cabal around President Muhammadu Buhari, abetted by the Central Bank of Nigeria, Federal Ministry of Finance and Office of the Accountant-General of the Federation. Last December, President Muhammadu Buhari ordered the reinstatement to office of Professor Usman despite his indictment by a ministerial investigative panel for a welter of corruption allegations and subsequent suspension from as approved by Professor Yemi Osinbajo, the Vice President, who was acting President when President Buhari was hospitalized in the UK. Sources reckoned that Professor Usman was reinstated purposely because he is needed to conceal the illegal withdrawals and shield members of the cabal around the President. According to the sources, Mr. Attahiru, who functioned as ES, NHIS, when Professor Usman was suspended, questioned the propriety of the withdrawals and requested to know who authorized them. This, they said, was the reason for which Professor Usman was brought back in controversial circumstances on February 7th 2017 to cover up the unprecedented withdrawal.  culled from Olu famous Mr Olumide's Blog |
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