Governor El-Rufai To Commence Verification Of Kaduna Civil Servants

Governor El-Rufai To Commence Verification Of Kaduna Civil ServantsKaduna State Governor, Nasir El-Rufai, has announced the commencement of biometric verification of all civil servants in the state’s workforce from Wednesday.

The exercise was signed and announced on Sunday by the Head of Service to Kaduna State Governor, Mrs Alisabatu Dada-Onazi.

Mrs Dada-Onazi said that the verification exercise was designed to provide the State Government with accurate and reliable record of its personnel and clean-up its payroll.

According to the statement issued to all Ministries, Departments and Agencies of government, data collected from the exercise would enable the government to determine whether the billions of Naira spent monthly on staff salaries were paid to identifiable and verifiable civil servants or not.

It further explained that the biometric registration exercise would be conducted simultaneously across the three senatorial zones which are Kaduna, Kafanchan and Zaria.

The civil servants, in the statement, were advised to bring their letter of appointment, letter of last promotion and means of identification which could be their National Identity Card, Driver’s License, Permanent Voter Card or International Passport.

The Head of Service also directed the workers to physically appear before the verification team for screening and collection of their salary cheques for the month of June 2015.

The biometric verification exercise would be completed on Wednesday July 8.

The Kaduna State Government had in the previous week, signed a Memorandum of Understanding with United Bank for Africa and Zenith Bank, to partner in updating the Civil Service Payroll.

EFCC Arraigns Former Anambra Commissioner Over N265m Scam

Former Commissioner for Youth and Sports, Anambra State, Prince Okay Aroh (l) and a former banker with United Bank for Africa, Abimbola Oluwaniyi.

A former Commissioner for Youth and Sports, Anambra State, Prince Okay Aroh and a former banker with United Bank for Africa, Abimbola Oluwaniyi, were on Thursday, May 15, 2014 arraigned before Justice Oluwatoyin Ipaye of the Lagos High Court, Ikeja on a 6- count charge bordering on conspiracy, stealing, forgery and uttering to the tune of N265million (Two Hundred and Sixty Five Million Naira).

The former Commissioner and his accomplice ran into trouble, when a petitioner wrote to the EFCC alleging that, in 2009, he deposited N265, 000,000.00 (Two Hundred and Sixty Five Million Naira) in a fixed deposit account with the United Bank for Africa, through the defendants, only for him to discover in 2012, upon maturity of his deposit, that the investment was non-existent in the bank’s record.

Okay was Branch Manager of UBA, Idumota 2 Business Office at the time the transaction took place.

One of the charges read: “Prince Okay Aroh and Abimbola Oluwaniyi between August 2008 and December, 2009 at Lagos within the Ikeja Judicial Division, whilst being the Branch Manager and Relationships Officer respectively of Oke Arin 2 branch of United Bank for Africa Plc stole the sum of N108M (One Hundred and Eight Million Naira) property of United Bank for Africa Plc”.

When the charges were read to the defendants, they pleaded not guilty.

In view of the plea of the defendants, prosecuting counsel, George Adebola, prayed the court to fix a date for trial and to remand them in prison custody.

Counsel to the 1st defendant, Vincent Nwana, objected the plea of the prosecuting counsel and prayed the court to grant his client bail on liberal terms. He informed the court that the 1st defendant had already made an agreement for payment.  “My Lord, the 1st defendant has shown that he will not jump bail, he has good sureties in court who are ready to show up at any time”, he said.

In the same vein, counsel to the 2nd defendant, Nonye Anyaegbunam, prayed the court to grant the defendant bail on the grounds that she only carried out duties as instructed by the 1st defendant.

Justice Ipaye granted the 1st defendant bail in the sum of N5million and two sureties with a security of N2 million (Two Million Naira only).  One of the sureties should be a relation of the defendants. The sureties shall be residents of Lagos State and shall provide evidence of tax payments for three years.

The second defendant was also granted bail in the sum of N2million (Two Million Naira only) and two sureties in like sum. The sureties must present evidence of tax payments.

Justice Ipaye adjourned the case to July 3, 8 and 11, 2014 for trial and ordered that the defendants be remanded in Kirikiri Maximum Prison pending the perfection of their bail conditions.

UBA posts 9-month profit of N44.86 billion, up by almost four fold

The United Bank for Africa (UBA) on Monday announced that its pre-tax profit rose almost four fold to N44.86 billion ($285.10 million) in the first nine month to September, compared with N9.42 billion in the same period last year.

Figures from the bank showed a sharp fall in losses taken from bad loans to N4.7 billion in the nine months to September, compared with N11.478 billion in that period last year.

The bank said gross earnings also rose to N168.20 billion from N138.50 billion in the last period.

Bankers Committee endorses N5000 note

The bankers committee on Tuesday endorsed the plan by the central bank to introduce N5000 note and the coining of lower denominations.

Addressing journalists after the committees meeting in Abuja, the Managing Director of the United Bank for Africa, Philip Oduoza said that the move by the Central Bank of Nigeria (CBN) will not in any way affect the nation’s economy as currently speculated.

“If it will take you 100 pieces to fit into an ATM for a N100, it will take far lesser than that if you are feeding the N5000 notes into the machine. If you are moving cash as banks normally do between various locations, you’ll find out that you’ll do less number of runs,” Mr Oduoza said.

The bank boss said that all the cost saved from handling more cash will be passed on to the end users, who are the customers of the banks.

Mr Oduoza assured Nigerians that lending rate will drop as charges for the printing of higher denominations reduces.

“One of the things that leads to high interest rate is the cost of operations, so as that goes down, you’ll find out that the benefit will also goes to the customers of the bank,” he said.

On her part, the Managing Director of the Standard Chartered Bank, Bola Adesola said that the N5, 000 note will not be imposed on any customer who wants to be paid in lower denominations.

“It is important for the banking public to also know that the Central Bank or any bank is not going to impose the N5000 note on its customers. It will be based on demand,” she said.

She said the customers will have the choice as to what denomination they would like to receive their cash.

Seven Nigerian banks ranked amongst World’s top 1000

Seven Nigerian banks have been featured in a ranking of the Top 1000 banks in the world.

The list is compiled by The Banker magazine, a publication of the Financial Times of London.

The seven Nigerian banks are Zenith Bank, First Bank, GTbank, Access Bank, United Bank for Africa, Fidelity bank, First City Monument Bank and Skye Bank.

The banks are ranked according to their tier 1 capital. According to this metric, Zenith Bank is the no. 1 Nigerian bank on the list with a tier 1 capital of $ 2.398 billion (Zenith is no.7 in Africa and #322 Worldwide). Zenith is followed closely by First Bank’s tier 1 capital of $ 2.262 billion (#2 in Nigeria, #8 in Africa and #338 worlwide). GTBank is third with a tier 1 capital of $ 1.478 billion (#3 in Nigeria, #11 in Africa and # 455 worldwide).
Access Bank’s tier 1 capital or shareholders’ funds is $1.054 billion (#4 in Nigeria, #15 in Africa and #541 worldwide).

UBA is the fifth largest bank in Nigeria, #16 in Africa and #563 worldwide. Fidelity takes position as the sixth biggest bank in Nigeria, #17 in Africa and #618 in the world while First City Monument Bank becomes the seventh largest bank in Nigeria, #22 in Africa and #710 in the world.

Bank of America emerged #1 on the global list with a tier 1 capital of $159.232 billion, JP Morgan was #2 with $150 billion.  Four American and Four Chinese banks made the top ten list, with one British and Japanese Bank apiece also emerging.