By Elvis Eromosele Poverty is a real concern in Nigeria. It permeates the lives of individuals and communities, leaving many trapped in a cycle of deprivation. Poverty is a pervasive issue in Nigeria. It casts its dark shadow over countless lives, leaving individuals and communities starving millions of opportunities for a better future. Nigeria serves as a poignant case study, a country grappling with the complexities of poverty despite its vast resources. To uncover the true face of poverty in Nigeria is to inspire collective action and foster a society where every Nigerian can thrive. Poverty is more than just…
Author: Elvis Eromosele
My Fellow Citizens, I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity. This day is bold and majestic yet bright and full of spirit, as is our precious nation. As a nation, we have long ago decided to march beyond the dimness of night into…
As part of its Corporate Social Responsibility efforts, MTN Foundation has said that it would be investing about N1 billion to upgrade not fewer than 40 Primary Healthcare Centres (PHCs) across the country under its ‘What We Can Do Together Initiative’. The project, in its fifth phase, is urging members of the public to nominate PHCs in various communities that are in need of an upgrade. The nominations will close on June 17, and participants can nominate projects in the communities in two ways. These are via SMS and on the web. Participants using SMS can start by texting MTN…
Sadly, there is some level of danger around most fun activities. Growing up, the beach used to be the go-to spot for holiday fun, but after one too many kids drowned or got carried away by the waves, we stopped going. But that didn’t stop the bad news. I can remember sitting at home, missing the beach trips, while eating rice, and someone rushing in with another sad tale of kids drowning or getting carried away. There were lots of superstitious stories around these sad incidents, but they only served as a distraction. These were a tragic reminder of the…
The president of the Africa Development Bank Group (AfDB), Akinwumi Adesina, has hinted that Africa will need $2.7 trillion to upscale climate change adaptation by 2030. Mr Adesina made this known on Monday at the AfDB annual meeting themed:“Mobilising private sector financing for climate and green growth in Africa”, held in Sharm El Sheikh, Egypt. “Africa is being shortchanged by climate finance. Africa is choking. Africa will need $2.7 trillion by 2030 to finance its climate change needs,” Mr Adesina said. He said Africa, which is the world’s lowest emitter of greenhouse gases is “choking” and in dire need of…
The Central Bank of Nigeria (CBN) has revoked the operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies in the country. The revocation exercise was disclosed in the official gazette of the Federal Government published on the website of the CBN on Tuesday. According to the CBN, the financial institutions “failed to fulfil or comply with the conditions subject to which their licences were granted; or failed to comply with the obligations imposed upon them by the Central Bank of Nigeria in accordance with the provisions of Banks and Other Financial Institutions Act (BOFIA) 2020,…
Elvis Eromosele One of my earliest memories of a money fight was one between an alajo (thrift collector) and a borrower. The debtor was screaming at the top of his voice, ‘na money I borrow I no kill person.’ Then he added a clincher, ‘after all Nigeria self dey owe.’ It took the intervention of the Baba Oloja at that time to resolve the issue. The Baba Oloja’s intervention saved the day, prevented a fracas and led to the resolution. Nigerians are notorious when it comes to defaulting on debt. It doesn’t matter whether as individuals or corporate entities, the…
A health, safety, and environment (HSE) policy is a statement or document that outlines an organization.s commitment and approach to ensuring the health, safety, and environmental well-being of its employees, contractors, customers, and the general public. It typically includes the organization’s objectives, responsibilities, and guidelines for managing and mitigating risks, preventing accidents and injuries, and complying with relevant laws and regulations. The HSE policy serves as a framework for establishing and maintaining a safe and healthy work environment. What one expects in an organization with an HSE policy is that the training and equipment that exist in such an organization…
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Monday, revealed that the cost for the construction of the Dangote Petroleum Refinery was around $18.5 billion. This amount is significantly higher than the $9 billion Africa’s richest man, Aliko Dangote, mentioned when he set out to build the refinery in 2013. Dangote accounted for 50 per cent of the capital investment, while he secured the remaining 50 per cent from local and foreign deposit money banks (DMBs) through debt finance. Between 2013 and 2023 period, the businessman’s total net worth dropped from $25 billion to $13.6 billion,…
Stanbic IBTC Holdings Plc said it has commenced operations of its wholly-owned financial technology subsidiary. A statement said, having received all required regulatory approvals and licences to commence operations, the subsidiary would operate under the name, Stanbic IBTC Financial Services Limited. It said, “It will function primarily as a Payment Solutions Provider, focusing on developing innovative technology solutions to enhance Stanbic IBTC’s existing financial services offerings. “The launch of Stanbic IBTC Financial Services Limited marks an important milestone for Stanbic IBTC as the company seeks to remain at the forefront of the rapidly evolving financial services industry. “The subsidiary will…