Paradise News

Tag: Nigeria

  • Establishment Of State Police Not Negotiable – Ex President Jonathan

    Former President, Goodluck Ebele Jonathan has said that the issue of State Police in Nigeria is not negotiable as it is already “a settled matter.”

    Jonathan who spoke at the ongoing national dialogue on state police organised by the House of Representatives in Abuja said that, “There is no way we can manage our internal security if we don’t have state police.”

    Jonathan disclosed that as President of Nigeria in 2014 National Conference unanimously endorsed the establishment of “State Police, National Border Guard and National Coast Guard.”

    The former President, however, said that Nigerians including the National Assembly must focus on how to create an operational framework for state police in a way that enhances Nigeria’s national security architecture for the overall security and progress of Nigeria.

    Speaking further, President Jonathan highlighted the perceived role of politicians, especially governors whom many analysts believe would use state police to harass political opponents, advising panellists in the dialogue to focus on “How do we ensure that state political actors do not abuse the state police.”

    Establishment Of State Police Not Negotiable – Ex President Jonathan is first published on The Whistler Newspaper

    Source

  • Loan Officer at First Excelsia April, 2024

    Never pay for any CBT, test or assessment as part of any recruitment process. When in doubt, contact us

    Our client, a Microfinance institution, is seeking dynamic and results-driven Field Officers to join its growing team.

    The candidate must possess good marketing and business development skills and should have good knowledge of lending and financial instruments.

    Job Responsibilities

    • Conducting direct promotion and/or other marketing activities daily.
    • Interviewing applicants to determine financial eligibility and feasibility of granting loans
    • Conducting loan analyses and preparing loan assessments according to the organization’s procedures.
    • Presenting loan proposals to the credit committee.
    • Disbursement communicating the disbursed amount to the client.
    • Monitoring and recovery

    Person Specification:

    • 2 years of relevant experience
    • First degree in any discipline from a recognized Institution
    • Ability to understand client needs & financial objectives
    • Understanding of the financial sector
    • Experience in selling to all classes of clients traders, low-salary earners, and corporate organizations
    • Report writing and documentation skills
    • Excellent marketing and business development skills
    • Experience in the financial sector microlending is an added advantage

    Click Here To Apply

  • Kanye West punched wrong twin brother after Bianca Censori was allegedly assaulted at the Chateau Marmont

    Kanye West punched wrong twin brother after Bianca Censori was allegedly assaulted at the�Chateau�Marmont

    A new report has claimed that Kanye West actually punched the wrong man days after the rapper was named a battery suspect after an incident in Los Angeles. 

     

     

    The 46-year-old rapper was at the Chateau Marmont hotel in Los Angeles on Wednesday, where he got into an altercation with a man his girlfriend Bianca Censori claims assaulted her. 

     

     

    The new report surfaced on TMZ, claiming West punched one half of a set of twins who own numerous L.A. bars and restaurants… adding West actually punched the wrong one.

     

    Kanye West punched wrong twin brother after Bianca Censori was allegedly assaulted at the�Chateau�Marmont

     

    The twins are Mark and Jonnie Houston, who own L.A. hotspots such as No Vacancy, Good Times at Davey Wayne’s, Black Rabbit Rose, and Break Room 86.

     

     

    West and Censori are claiming that Censori bumped into one of the brothers and that he proceeded to assault her.

     

     

    However, sources are claiming there is no evidence to back up those claims, with TMZ’s sources calling Censori’s allegations, ‘totally off base and simply not accurate.’ 

     

     

    Sources claim that a man bumped into Censori in the Chateau Marmont lobby, which was said to be quite busy at that time.

     

     

    The incident happened quickly and the man went on his way, heading outside to sit with some friends.

     

     

    Shortly thereafter, West came up to the table to confront the man, ultimately punching the man in the face.

     

     

    However, West apparently hit the wrong man – the other twin and not the one who bumped into his girlfriend in the lobby.

     

     

    It isn’t clear at this time which of the twins ran into Censori and which one was ultimately punched by West.

     

     

    The Houston twins are said to frequent the Chateau Marmont quite a bit though it’s unclear if they’ve interacted with West before.

     

     

    The rapper left the hotel after the incident, long before police arrived, with cops reportedly wanting to talk to West after the altercation.

     

     

    West reportedly punched the wrong brother two times, with law enforcement sources failing to find any evidence that one of the brothers assaulted Censori in any way.

     

     

    An investigation is underway, and it will be sent to the City Attorney for review to see if any official charges will be filed.

     

     

    Despite no evidence being found, West’s team is adamant that Censori was assaulted that night.

     

     

    ‘This was a physical, sexual assault and any attempt to undermine the seriousness of what happened is repellent and vile,’ one of Kanye’s reps said in a statement. 

    Source

  • Governor Aiyedatiwa Declared Winner Of Ondo APC Primary Election

     

     

    The leadership of the ruling All Progressives Congress has declared Mr Lucky Aiyedatiwa as the winner of the party’s governorship primary election in Ondo State.

    The incumbent governor’s victory was affirmed after he was said to have scored a total of 48,569 votes in the primaries.

    His closest challenger, Mayowa Akinfolarin, polled 15,343 votes while Olusola Oke came third with 14,865 votes.

    Ahmed Ododo, Chairman of the Governorship Primary Election Committee and Governor of Kogi State, pronounced Aiyedatiwa as the winner early Monday morning.

    “I can confirm that the direct mode of primary election adopted in the 2024 Ondo state governorship primary elections held in all 203 electoral wards in all the 18 LGAs in Ondo state,” Ododo said while announcing the winner in a viral video seen on X.

    It was gathered Aiyedatiwa won in 16 of the 18 LGAs losing out in Ilaje LGA to third-placed Oke.

     

    Meanwhile, SaharaReporters had reported several incidents of violence that marred the election in Ifedore leading to cancellation of results there.

    Some of the stakeholders who participated in the primary election in Ondo State had also cried foul over how the election committee handled the electoral process.

     

    The aggrieved party members alleged that the committee which was headed by Ododo was biased in the assignment.

    A female aspirant in the primary election on Sunday called for the cancellation of the poll over alleged irregularities.

    Mrs Folakemi Omogoroye made this known in a press statement sent to SaharaReporters on Sunday, alleging that the election did not take place as anticipated on Saturday.

     

    “There was no election anywhere,” she said.

     

    She described what was conducted in the state as a “complete rape of democracy.”

     

    Expressing her dismay, Omogoroye lamented the absence of election officials and voting materials at voting centres, rendering her and her supporters unable to exercise their rights the vote.

     

    The statement said despite her “meticulous preparation and financial commitment to the party, she found herself circumvented to participate in the democratic process”.

     

     

     

    It said, “In a bold move, Engr. Omogoroye called upon the party’s leader, President Bola Ahmed Tinubu, to intervene and annul the purported election.

    “President Bola Ahmed Tinubu gave us women a renewed hope agenda that prompted me to go into the race with assurance that the election is going to be free and fair and that was why I went into this contest.

     

    “But to my greatest surprise, the reverse is the case. I was on the field from 7am no election materials, were seen, not to talk of seeing any party officials or INEC (Independent National Electoral Commission) officials and a voice came up that Aiyedatiwa has won, Aiyedatiwa has won.

     

    “I don’t know how that happened and I don’t know how party is the going to take that, because I, Engr. Folakemi Omogoroye will not accept that; because I believe in the party, I have been in the party for years, and this is the time we have to make the party better that other parties will emulate, but this is not the case.

     

    “Other parties are now making mockery of our party, all my political followers from all the books and crannies of Ondo state have been calling me that the same thing happened all over.”

    She threatened legal action if the election was not cancelled. 

    Source

  • World Bank lists factors that will hamper Nigeria’s economic reforms

    The World Bank has identified challenges associated with fuel prices and low non-oil revenue as factors that may hamper the Federal Government’s move to maximise the benefits of its economic reforms.

    In its Macro Poverty Outlook for Nigeria for April 2024, the Bretton Wood institution stressed the need for Nigeria to fix issues with fuel prices and improve non-oil revenue in order to reap the benefits of the economic reforms of the current administration.

    It predicted that Nigeria’s economy would grow by average 3.5% annually from 2024 to 2026.

    “This growth is faster than the increase in the population. However, this growth depends on the country continuing its current economic reforms,” the World Bank noted.

    Nonetheless, it expects the non-oil parts of the economy to grow slowly.

    It equally projected that inflation, or the rise in prices would stay high at 24.8% in 2024 but should slowly decrease to 15.1% by 2026.

    READ ALSO:World Bank predicts drop in Nigeria’s inflation to 24.8% before year-end

    The bank added: “The oil sector should become more stable with a slight increase in production and a decrease in prices. However, to see better growth rates, Nigeria needs to make more changes in its economy.

    “The continuation of an ambitious reform program centered around macroeconomic stabilization is essential for Nigeria to reap the reforms’ benefits. The economy is projected to grow by 3.5 percent on average between 2024 and 2026, 0.9 pp higher than the population growth.

    “The dissipation of the reforms’ initial shock and the stabilization of macroeconomic conditions will instill a sustained but still slow growth in the non-oil economy, while the oil sector is expected to stabilize with some recovery in production and slightly lower prices. Higher growth rates will require structural reforms.

    “Inflation will remain elevated at 24.8 percent on average in 2024 but is expected to progressively moderate to 15.1 percent by 2026 on the back of monetary policy tightening and exchange rate stabilization. As a result, poverty rates are expected to increase in 2024 and 2025 before stabilizing in 2026.

    “Exchange rate liberalization is expected to contribute to both fiscal and external balances. Fiscal pressure is expected to moderate over the outlook due to higher dollar-denominated revenues and improved non-oil revenues.”

    By: Babajide Okeowo

    Source

  • Fidelity Bank’s assets climb to N6.2 trillion, highest in 13 years

    By Ken Ibenne

    Fidelity Bank Plc, a Nigerian financial institution, had an increase in total assets that marked the greatest level in at least 13 years, according to data collated by The Paradise News.

    The bank’s assets increased to N6.23 trillion last year from N3.98 trillion in 2022, per the most recent financial statement.

    The lender’s growth in loans and advances to customers over the period, which increased by 46% to N3.09 trillion from N2.11 trillion, can be linked to the growth of its assets.

    The items possessed by a bank that add value are known as bank assets; these items are typically more closely associated with financial assets and interest. The assets may include loans, investments, and tangible possessions.

    A statement states that the discounted amount of projected future cash flows that are anticipated to be received is what the estimated fair value of loans and advances represents.

    The depreciation that occurred in the second quarter of last year, according to Olumide Sole, research analyst at Vetiva Capital Management Limited, contributed to the rise in banks’ asset values.

    READ ALSO: AfDB pledges $5 million to combat the financing of terrorism in West Africa

    “The banks’ foreign currency liabilities and balance sheets were impacted by the devaluation, which benefited from the devaluation of the naira and resulted in an overall increase in their asset value when reported in naira,” he stated.

    The bank’s loans to corporations and other groups climbed to N3.61 trillion from N2.12 trillion, according to a closer examination of its financial statement.

    It increased its loans to private citizens from N66 billion to N76 billion. From N863 billion to N1.17 trillion, the banks’ restricted balances with the Central Bank of Nigeria increased.

    The restricted balance consists of special cash reserves, which increased to N945 billion from N614 billion and N229 billion to N248 billion, respectively, and statutory reserve deposits with the CBN.

    “The Bank cannot use mandatory reserve deposits for regular business activities. It is non-interest bearing and reflects a portion of the deposits made by the customers. While the special cash reserve represents special intervention funds held with the apex bank as a regulatory requirement,” the statement stated.

    In a same line, the bank’s total liabilities rose from N3.67 trillion in 2022 to N5.79 trillion in 2023, a 57% increase.

    The bank’s liabilities have increased as a result of deposits that its clients made in 2023.

    Customer deposits increased from N2.5 trillion to N4 trillion. This sum includes the time, demand, and domiciliary savings of the clients as well as other expenses for the duration.

    The bank’s book value of shareholders’ equity, which includes its retained earnings, share premium, and capital, increased from N161 billion in 2022 to N194 billion in 2023, a 20.5 percent increase.

    Over the investigated periods, its comprehensive income rose from N42 billion to N129 billion.

    The basic and diluted earnings per share of Fidelity Bank that are attributable to equity investors went up from N161.32 to N310.79.

  • AfDB pledges $5 million to combat financing of terrorism in West Africa

    By Ken Ibenne

    The African Development Bank Group will provide a $5 million grant to support the initiative, which is titled “Capacity Development for Anti-Money Laundering and Countering the Financing of Terrorism in GIABA Member States in Transition.”

    The project will be funded in part by a grant of 3.5 million UA (roughly $5 million) from the African Development Bank’s Transition Support Facility. This will allow the project to strengthen anti-money laundering and counterterrorism financing regimes in West Africa and build the capacity of GIABA member states, with a focus on transitioning nations.

    The AfDB said in a statement that the award will support its operational and strategic initiatives at the national and regional levels. It also fits with its goal for economic governance in Africa as well as its policy and action plan on stopping illicit financial flows.

    READ ALSO: Naira experiences first weekly fall at unofficial market in 6 weeks

    Senegalese African Development Bank Country Manager Mohamed Cherif praised the long-standing partnership between GIABA and AfDB, which includes technical support and training sessions for member nations.

    The director of GIABA, Edwin Harris Jr., stated, “It comes at a pertinent time, to support the implementation of GIABA’s ongoing Strategic plan for 2023 – 2027 and to contribute to effective interventions on anti-money laundering and terrorism financing regimes in its member countries.”

  • Naira experiences first weekly fall at unofficial market in 6 weeks

    By Ken Ibenne

    The unofficial market saw the naira hold above the N1200/$ band, which caused the Nigerian currency to halt its weekly winning streak vs the US dollar.

    The naira’s runaway rise since late March, which had made it the world’s best-performing currency, ended on Sunday when it had its first weekly fall on the parallel market in several weeks.

    The US dollar went for N1,207 on the black market on Sunday, down 15% from N1,050/$ at its peak last Monday.

    Although the naira has recovered some of its losses after falling as low as N1236/$, recent market fundamentals show an increase in demand for the dollar. However, more momentum is needed to breach below N1200/$ once more.

    In addition, the naira dropped 1.38 percent against the dollar on Friday in the official market, from N1,154.08 on April 18 to N1,169.99 on Friday.

    Vice President Kashim Shettima is confident that the value of the naira would continue to rise in relation to the safe haven currency.

    READ ALSO: ‘We Will Confront You With Overwhelming Force’-Akwa Ibom Govt Vows To Deal With Petroleum Products Saboteurs

    Shettima stated his opinion that the naira’s comparatively bullish run will not end anytime soon. “When Naira went crazy, some people celebrated, but we were secretly laughing at them because we knew we had the power to turn the tide,” he remarked.

    The dollar held its strong position relative to other major currencies, despite concerns about higher-for-longer interest rates.

    By giving regional currencies some respite, foreign exchange dealers assuage concerns about rising tensions in the Middle East as risk appetite improves.

    Nonetheless, as traders progressively took into account the chance that the Federal Reserve will cut interest rates as early as June, the majority of the major currencies were able to retain the majority of their losses from the previous week.

    We anticipate more rate indications this week, and the currency is still stable.

    The dollar index and dollar index futures were both slightly lower in Monday’s Asian trading, but they were still close to their higher five-month highs from earlier in April.

    Particularly after strong U.S. inflation data and hawkish comments from senior Fed members, the dollar strengthened as expectations of a June rate drop faded.

    This week’s discussion will center on more clues about US monetary policy, specifically from the PCE price index, which is the Fed’s preferred measure of inflation. Anticipated for release on Friday, the report is expected to corroborate the notion that U.S. inflation remained elevated in March.

    More indicators of the state of the American economy will also be released in the next few days. The purchasing managers index data for April is anticipated to reveal more details regarding business activity.

    The Japanese yen exhibited some steadiness and kept trading well over the 154 level even with the dollar’s limited support.

    Investors were wary of any potential government as a result. This made investors cautious about potential government involvement, particularly when the USDJPY pair touched 34-year highs around 155.

  • ‘We Will Confront You With Overwhelming Force’-Akwa Ibom Govt Vows To Deal With Petroleum Products Saboteurs

    Akwa Ibom State Governor, Umo Bassey Eno

    The Governor of Akwa Ibom State, Umo Eno has issued a stern warning to an unidentified group purporting to be affiliated with the National Union of Petroleum and Natural Gas to stop impeding the distribution of petroleum products to Akwa Ibom State.

    Eno read the riot act when he spoke at the special service and fund raising for Church building projects at All Nations Christian Ministry Int”l. Onna Mission Field, Ikot Udo Junction, Onna Local Government Area.

    A statement on Monday said the Commissioner for Internal Security was instructed to collaborate with the Coordinator of Ibom Community Watch and other security agencies in order to establish surveillance at the borders, with the aim of thwarting the nefarious plans of unscrupulous individuals.

    The governor said, “There is a false news in circulation from an unknown group. They say they want to withdraw their service of fuel delivery in Akwa Ibom. We have contacted the original and authentic group who have since countered that announcement.

    “I have directed the Commissioner for Internal Security to work with the Coordinator of Ibom Community Watch to ensure that no one whatsoever blocks the road, or stops trailers from bringing petroleum products into Akwa Ibom. No one whatsoever would be allowed to do so especially a faceless group. We are ready to meet them with our overwhelming force.

    “The Internal Security Ministry would mobilize the Police, the Army, Air Force, the Navy to ensure that there is a free flow of petroleum products all over the State. We are not in a lawless society. We will not allow a faceless group to intimidate us”

    Governor Eno noted that Nigerians have been severely impoverished by the present economic realities and warned groups or persons not to worsen the situation, stressing that his government will contain them frontally to drive home its mandate of ensuring the welfare of the citizenry.

    “In the wake of the prevailing hardship in the country, if any group believes it can constitute themselves into a nuisance and create additional hardship for the people of the country, and people of Akwa Ibom, we will confront that group. I don’t care where they belong to, I don’t care who is sponsoring them. I can guarantee them as a Governor of this State that they will be brought to book and made to face the full weight of the law.”

    ‘We Will Confront You With Overwhelming Force’-Akwa Ibom Govt Vows To Deal With Petroleum Products Saboteurs is first published on The Whistler Newspaper

    Source

  • Managing Director at First Excelsia April, 2024

    Never pay for any CBT, test or assessment as part of any recruitment process. When in doubt, contact us

    Our client is seeking to hire a highly strategic and dedicated Managing director to join its dynamic team and contribute to its commitment to excellence.

    The ideal role holder will have overall responsibility for the strategic direction, financial performance, and operational effectiveness of the company. You will work closely with the Board of Directors to drive business development, and profitability, and ensure compliance with legal and regulatory requirements

    Job Responsibilities

    • Drive business development initiatives and maximize profitability within the approved yearly budget.
    • Mobilize deposits to ensure organizational liquidity.
    • Oversee risk management structure and ensure comprehensive framework implementation.
    • Review funding position to optimize fund utilization considering associated risks.
    • Drive organization’s loan business to meet acceptable CBN PAR threshold and ratios.
    • Manage legal matters and mitigate legal risks through oversight and coordination.
    • Review financial system, reports, and performance to provide improvement recommendations.
    • Develop long-term financial plan and budget for organizational sustainability.
    • Collaborate with Senior Management and Heads of Departments to execute strategic plan.
    • Lead day-to-day operations aligned with established goals and policies.
    • Review and develop organizational structures to enhance employee performance and growth.
    • Present comprehensive quarterly reports to the Board covering all business aspects.
    • Fulfill other duties assigned by the Board of Directors.

    Person Specification

    • Minimum of a Bachelor’s Degree, alongside a master’s degree in financial discipline.
    • Minimum of 15 years’ related experience in the Commercial banking and Microfinance Sector, with at least 5 years in a Managerial Position
    • Professional certification from renowned institutions will be an added advantage.
    • Ability to use Microsoft Office Packages such as Microsoft Word, Excel, and PowerPoint.
    • Experience in developing and implementing strategic and business plans is required.

    Required Skillset:

    • Strong accounting and financial knowledge.
    • Exceptional people management skills.
    • Expertise in business strategy formulation and execution.
    • Ability to allocate resources effectively and manage costs.
    • Track record of driving income growth.
    • Leadership skills to inspire and motivate teams.
    • Excellent communication, negotiation, and presentation skills.

    Click Here To Apply