Lagos banks begin two-day cheque clearance Friday

The cheque truncation policy of the Central Bank of Nigeria will commence on Friday with the Lagos Clearing House serving as the pilot zone.

Our correspondent gathered that only Deposit Money Banks in Lagos would participate in the scheme, which was earlier billed to take effect on August 1.

Cheque truncation system involves the conversion of physical cheque into electronic form for transmission to the paying bank, thereby eliminating cumbersome physical presentation of the cheque and saving time and processing costs.

The Director, Corporate Communications, CBN, Mr. Ugo Okoroafor, confirmed this to our correspondent on Tuesday, adding that the scheme would be extended to the other clearing zones across the country as soon as possible.

The CBN said conditions were appropriate for the cheque truncation scheme to commence in the Lagos area.

It said in a statement obtained by our correspondent, "As part of our preparation for the introduction of the cheque truncation system, the CBN carried out a systems audit certification test on all banks to confirm their readiness for the commencement of the scheme in Nigeria. Our finding is that conditions are appropriate for the cheque truncation scheme to commence in the Lagos area.

"The implementation of the initiative will reduce the cheque clearing cycle from T+2 to T+1, and thus make it more attractive to users, as an alternative means of payments, instead of transacting in cash."

Under cheque truncation, the clearing cycle will reduce by one day. It means if a customer deposits a cheque early on Monday; value will be obtained on Wednesday as against Thursday under the current clearing cycle.

 A visit to some banks by our correspondent, however, revealed that the banks had yet to be briefed about the commencement of the policy on Friday.

An official of one of the banks said, "We have heard too but we have not received any directive, so cheques are still taking three days to clear."

The CBN had earlier announced that it would commence the cheque truncation scheme on August 1, saying that, "to ensure that this new process is efficient and seamless, account holders would have to ensure that their accounts are sufficiently funded before cheques are presented, as all cheques presented to an unfunded account will be returned unpaid."

It added that account holders would be required to pre-confirm all cheques before they were presented to prevent cheques being returned unpaid.

"Special mandates on the issuance account such as the use of seals, embossment, thumb-print or colours of pen, other than black pens stated as part of a mandate would no longer be valid as only images will now be used during the clearing session. Hence, it is necessary that customers with such special mandates update their mandates," it stated.

The bank also stated that it would no longer be in a position to oblige requests for physical confirmation of cheques as only images of cheques would be in the bank's possession.

 

Boko Haram: Let’s get talking

Boko Haram: Let's get talking..........

The state of emergency imposed on 14 local government areas in some
states of the federation, following violence attributed to Boko Haram,
was not re-imposed when the 6-month duration lapsed. That was a good
decision by the Federal Government. The emergency rule was gradually
becoming counterproductive and did not seem to have significantly
reduced tension in the affected areas. However, to move towards a
fundamental resolution of the crisis, there is one step the government
needs to take with single-minded determination – that of engaging in
dialogue with Boko Haram.

There are arguments for and against this move, and government appears
somewhat indecisive as to which voice to follow. But it is not
difficult to discern which side the government seems to be tilting to
at the moment. In one breath it says it would enter into dialogue with
Boko Haram if the sect's representatives come forward. Soon after,
government says it could not discuss with an "invisible" group. The
fact that no Boko Haram representative has stepped forward to take up
the offer only goes to reinforce the position of the "No dialogue with
Boko Haram" advocates. Such a hardline position can only worsen the
resolve of Boko Haram to continue with its campaign.

With the current volatile situation in parts of the country troubling
the hearts of peace-loving citizens, all of whom are praying for a
speedy end to the crisis, the prolongation of the impasse, no doubt,
leaves government in an uncomfortable position.

In trying to deal with the Boko Haram issue, it is quite apparent that
government is drawing ideas from everywhere. By everywhere, I include
influences outside Nigeria. So far, as much as one could detect, the
advice from external quarters seems to be no dialogue. This could well
stem from the well known principle of "no dialogue with terrorists"
which is extolled mainly by the United States and its allies.

Given the above scenario, which leaves the government at a crossroads
and Nigeria in limbo, it is worthwhile for us to pause and postulate
on the best way of dealing with this challenge of urban guerrilla
skirmishes in our cities. The mode of engagement is clearly not
amenable to frontal attack, which happens to be the current tactic.
The emphasis should be on intelligence gathering and aborting plots to
launch attacks. But I think the best policy should be government
taking the initiative to enter into dialogue with the sect.

To put this question of dialogue in perspective, it is worthwhile to
recall how the British Government was able to bring the situation in
Northern Ireland under control after decades of security challenges.
The situation there was arguably similar to what our country is facing
now. In spite of the initial policy of "no dialogue", the Good Friday
Agreement of 1998, which ushered in the relative peace in that part of
the United Kingdom, was the product of a negotiated settlement. It was
not the product of a military victory.

For that to be possible, known leaders of Sinn Fein were not hounded
down even when its paramilitary wing, the Irish Republican Army,
continued committing violence. If they were, they could have gone
underground. That would have made it much more difficult to engage in
dialogue. At least we know that Gerry Adams, a prominent leader of
Sinn Fein, was neither arrested nor killed by security forces.

Looking at the situation in the Middle East and, more particularly,
the Israeli-Palestine conflict, there are Palestinian leaders who have
not been killed by Israel or its backers in order to have someone to
engage in dialogue with on behalf of the Palestinians. Arguably,
Yasser Arafat was left standing under the pretext that he was an
advocate of non-violence. Though Israeli leaders had reported put him
in their gun-sights, he was strategically left to facilitate dialogue
as and when it became expedient. That strategy worked, even though
questions are being raised lately about the circumstances of his
death.

Equally important to note is that the "no dialogue" stance of some
countries is particularly emphasised mainly when they are not dealing
with their nationals or where a terrorist siege is short-lived. While
openly advocating the "no dialogue" policy, many kidnappers had been
negotiated with and ransom paid to bail out victims. This was often
through subtle discreet negotiations made possible by credible third
parties who could be mediators, negotiators, statesmen or humanitarian
organisations.

Back to the Nigerian situation, it is my considered view that there is
the need for an urgent review of tactics regarding Boko Haram. Some
names had been thrown up in the recent past as possible negotiators
for the sect, but they were quickly disowned by the sect, apparently
on suspicion that the move was only a trap to lure them out and
capture or kill them. While the hardliners on both sides may have
their say, the inevitability of dialogue should not be overlooked. For
that to happen, government, which always has the upper hand, must
clearly demonstrate that it would genuinely grab the opportunity for
dialogue if it presents itself.

So far, the signs are not there and the opportunity can't present
itself in such situations of ambivalence and cat-and-mouse attitude.
Above all, brute force and grandstanding would not yield the desired
result. Government, as a matter of deliberate policy aimed at
promoting dialogue, should tolerate Boko Haram's spokesman or leader
who may come out and also actively explore the behind the scenes
strategy.

Dialogue is inevitable. All parties should have faith in its
usefulness as a tool for confidence-building and conflict resolution.
After all, after we might have gone full circle with violence and
senseless killings, we would still return to dialogue. The Holy month
of Ramadan may well provide the opportunity for a change of mind by
all concerned.

TERRORISTS GUNMEN KILLED 16 DEEPER LIVE MEMBER

TERRORISTS GUNMEN KILLED 16 DEEPER LIVE MEMBER


A gang of gunmen on Monday night shot dead 16 members of the Deeper
Life Bible Church in Otite area of Okene, Kogi State.
The gunmen also wounded many others.
The worshippers were murdered during their weekly fellowship, the News
Agency of Nigeria reports.
Confirming the incident, the Commander of the Joint Military Task
Force in Lokoja, Lt-Col. Gabriel Olorunyomi, said 15 worshippers died
instantly in the attack while another died on the way to the hospital.
He said that many of the injured were rushed to hospitals in Lokoja, a
distance of 40 minutes from Okene.
Although no group has claimed responsibility for the attack, it bears
the hallmarks of the Boko Haram sect.
Last month, suspected Boko Haram members attacked a church in Okene,
although no lives were lost.

AVIATION ROAD SHOW SAGA: Senators panic over $7,000

AVIATION ROAD SHOW SAGA: Senators panic over $7,000


By Emmanuel Aziken, Political Editor & Henry Umoru


LAGOS — MEMBERS of the Senate Committee on Aviation, yesterday,
distanced themselves from the Aviation Road Show organized by the
Ministry of Aviation after one of the senators(name withheld) had
allegedly collected $7,000 estacode for the controversial trip.

The senator who collected the money was not part of the trip which
commenced last Sunday and was firmly rooted in his constituency last
night.

The decision of the Senate committee to boycott the road show,
Vanguard learnt, followed stern warning from the senate leadership to
members of the committee to distance themselves from the trip
following misgivings on the administration's implementation of the
2012 budget.



Senators and members of the House of Representatives are equally
dissatisfied with the airports remodelling projects, a pet project of
the Aviation Minister, Princess Stella Oduah. The remodelling projects
which have led to the reconstruction of 11 airports across the country
have been beset by controversy over funding and transparency in the
award of the contracts.

The funds for the remodelling projects costing N7.5 billion have
reportedly been sourced from the Bilateral Air Services Agreement,
BASA fund. The money was reportedly sourced from the BASA fund without
approval of the National Assembly.

The aviation road show is to take senior aviation officials and the
minister to the United States, Canada and China where they are
expected to showcase the investment potentials in the aviation sector.

It was learnt, yesterday, that three members of the committee were
pencilled down for the trip but only one senator had by last weekend
collected the estacode before the media frenzy on the issue sparked
panic panic. The senate president sternly warned that no senator
should go on the trip, a development that made the senator (names
withheld) to step down.

The President of the Senate, Senator David Mark did not receive any
request as expected from any senator for approval to travel abroad and
was, therefore, shocked with the report on the senate's involvement in
the air show.

The senator who allegedly collected the $7,000 was, yesterday,
expected to return the money to the Ministry of Aviation following the
warning by the authorities in the senate to him to return the money
immediately. It, however, could not be confirmed as at press time if
the senator had returned the money.

"He is a new member even though a highly placed member of the society
who collected the money without getting clearance from the Senate
President to travel," one source privy to the development told
Vanguard yesterday.

"The fear of the senators is that they could be made to face the kind
of embarrassment Hembe faced in the House of Representatives when he
became a subject of blackmail."

Members of the committee on aviation moved quickly, yesterday, to
distance themselves from the road show.

Among those who denied knowledge of the Aviation Road Show were
Senators Abubakar Tutare Umar and Shaaba Mohammed Lafiagi.

The chairman of the committee, Senator Hope Uzodinma in a response to
enquiries from Vanguard through a text message claimed to be in a
meeting.

Speaking with Vanguard yesterday, Senator Umar who is also the Vice
Chairman, Senate Committee on Police Affairs disclosed that he was
currently in Abuja following the recess by the chamber, adding, ''I am
in Nigeria, precisely in Abuja. I have never been invited by the
Ministry of Aviation, I didn't even know that there was any trip to
somewhere; I never planned for anything."

Also speaking with Vanguard, a member of the Senate Committee on
Aviation and former governor of Kwara State, Senator Shaaba Mohammed
Lafiagi, PDP, Kwara North said he was presently in Ilorin, the Kwara
State Capital.

Senator Lafiagi who is also the Vice Chairman, Senate Committee on
National Security and Intelligence said, ''we are in the country, not
anywhere. I am in Ilorin as I am speaking with you now."

Other members of the committee who could not be reached yesterday were
the Vice Chairman of the Aviation Committee, Senator Garba Babayo
Gamawa, Bauchi North; Senator Akin Babalola Odunsi, Ogun West;
Mohammed Ali Ndume, Borno South; Ibrahim Gobir, Sokoto East; Domingo
Obende, Edo North.

It was, however, gathered that Senator Obende was in the United States
to deliver a paper at the annual Afenmai World Summit organised by the
Afenmai World Congress, AWC.

Nigerian emerges first PhD pharmacy graduate in 49-year-old UK varsity

Nigerian emerges first PhD pharmacy graduate in 49-year-old UK varsity

A 27-year-old Nigerian, Dr. Bahijja Raimi-Abraham, made history by becoming the first graduate of Pharmacy from the University of East Anglia, Norwich, United Kingdom, to be awarded a PhD in Pharmacy. She shares her experience with Olabisi Deji-Folutile in this online interview.

 Were you born in the UK?

I was born in Lagos, Nigeria in April 1985 and left Nigeria at the age of six when my family returned to the UK – my parents had lived and studied in the UK previous to that.

After completing my primary school education in London, I attended secondary school in North Wales, Penrhos College – where my mother and her sisters also were educated; and following my GCSEs I returned to London for sixth form when I studied and passed the Advanced Level examinations (A – levels) in Physics, Chemistry, Biology and Drama.

From where did you obtain your first degree?

I was accepted to read Pharmacy at the University of East Anglia – the University had just opened its School of Pharmacy and I was among the first intake of Pharmacy students.

The course was of four years in duration and led to the award of the MPharm degree. Following this, I applied to, and was accepted by Guy's and St Thomas's Hospital in central London to undergo my Pharmacy Pre-registration year. After passing my Pre-registration exams and attaining full status as a Pharmacist, I was invited by my alma mater, University of East Anglia, to apply and study for a Doctorate in Pharmaceutics

Nigerian emerges first PhD pharmacy graduate in 49-year-old UK varsity

August 7, 2012 by Olabisi Deji-Folutile 126 Comments

A 27-year-old Nigerian, Dr. Bahijja Raimi-Abraham, made history by becoming the first graduate of Pharmacy from the University of East Anglia, Norwich, United Kingdom, to be awarded a PhD in Pharmacy. She shares her experience with Olabisi Deji-Folutile in this online interview.

 Were you born in the UK?

I was born in Lagos, Nigeria in April 1985 and left Nigeria at the age of six when my family returned to the UK – my parents had lived and studied in the UK previous to that.

After completing my primary school education in London, I attended secondary school in North Wales, Penrhos College – where my mother and her sisters also were educated; and following my GCSEs I returned to London for sixth form when I studied and passed the Advanced Level examinations (A – levels) in Physics, Chemistry, Biology and Drama. Read more at  http://www.punchng.com/education/nigerian-emerges-first-phd-pharmacy-graduate-in-49-year-old-uk-varsity/http://www.punchng.com/education/nigerian-emerges-first-phd-pharmacy-graduate-in-49-year-old-uk-varsity/

Do You remember princess Iyabo ?

TWO decades after Princess Bunmi Olajubu made her hit track; Eko Dara
Pupo in Save Nigeria album, her daughter is making an appearance in
the music industry.

The young Princess Iyabo Olajubu Afolabi, who is stepping into her
mother's shoes with a three-track titled Aye Le, said she is in the
entertainment business to accomplish what her mother lost to tradition
and culture.

Princess Olajubu, shortly after her hit track in the 80s (bata mi a
dun ko ko ka, ti n ba ka'we mi, bata mi adun ko ko ka), where she
prophetically addressed the issue of reading culture in the country,
disappeared from the music scene to serve as the regent of Ikogosi
Ekiti. Until recently, when she passed on, she was forbidden by the
culture and tradition of her people to engage in public activities.

Speaking to The Guardian on her debut, young Bunmi said many factors
motivated her interest in music. Growing up with an artiste mother,
exigencies of life, coupled with her mother's death as well as the
need to keep the memory of her late mother alive collectively
propelled the creativity in her.

"Growing up with a single mother inspired me. I went with her to the
studios when she was recording; I knew I had a talent but I was shying
away from music. If she was alive, she would have encouraged me to do
it earlier than now.

"I want to take music internationally. I know my mother had a lot to
offer in the music industry but they are not fulfilled. I feel that
Nigerian music culture should be promoted; hip hop appears to have
dominated the scene; we need to promote songs that are educative to
the younger generations."

The three tracks in the album include Nitori, Glorify Him, and Aye le,
which was rendered in Yoruba and sub-titled in English and Hausa
languages.

The title track Aye le is both inspirational and educative as it
highlights the happenings around the world in the present times. The
uniqueness of the track lies in the blend of traditional music with
orchestra.

Her words: "The chorus warns that the world is not a permanent place
to live. Using orchestra to promote the track impacts a great deal on
the track because it invokes sober mood; it captures listener's
attention without loosing the intrinsic message of the artist.

Glorify Him is a gospel song that is equally sober while Nitori is a
modernized version of Princess Olajubu's Adura mi, which she released
on Tabansi Records in the 80s. The re-mixed Nitori is faster in
rhythm, produced with additional local instrument; it is more
danceable and has greater harmony than the Adura mi.

The artist could not deny the fact that music runs in the family. She
said: "Music flows in my blood. My late mother, Princess Bunmi
Olajubu, was a great musician. I am musically inclined and I have been
singing and writing songs since I was a little child.

"I would say that the track was a double-edged sword. First, my mother
had a vision for a great Nigeria and she knew that if the youths then
would be today's leaders, then, acquiring sound education must be
encouraged. That track also advised that the then teenagers and youths
must go back to their books. Looking back at that hit track, Eko Dara
Pupo, I will say my mother was a prophet."

A graduate of Public Administration, Bayero University, Kano, who runs
her private business, said music forms part of her life. "Though, I
have avoided and ignored its manifestation but it is a talent and I
believe my accomplishments will be incomplete without music."

In spite of the challenges of combining music and business, Bunmi
believes that with determination and strong will, she will take her
newly fond career to greater heights.

Princess Bunmi said she was currently working with two producers –
Alex O who was mentored by her mother, Rotimi Akinfewa of Song 23
Productions, an emerging name in the music industry.

She said, "Akinfewa is doing a fantastic job. He produced Aye le and
Glorify Him but all the songs are mastered by Alex O, who is also
producing my video. For now, the audio is ready for public consumption
while the videos will be ready before the end of this month. I am also
planning a public launch of the album in honour of my mother, who the
entire album is dedicated to".

SERENA EYES GOLD MEDAL

Serena Williams will face world number one Victoria Azarenka in the
Olympic semi-finals after the Wimbledon champion continued her
relentless march towards a first singles gold medal on Thursday.

Serena, a two-time doubles gold medalist with Sister Venus, looks in
medal-winning form after crushing Danish eighth seed Caroline
Wozniacki 6-0, 6-3 in the quarter-finals.

The American fourth seed claimed her magnificent 6-1, 6-0 demolition
of Vera Zvonareva in the previous round of the Games topped any of her
performances en route to her fifth Wimbledon title last month.

Ominously for Australian Open champion Azarenka, the 14-time Grand
Slam winner was just as dominant against former world number one
Wozniacki.

Serena has made it her goal to become just the second woman after
German legend Steffi Graf to complete the Golden Slam of all four
major titles and Olympic singles gold and few would bet against her
achieving that target.

"I love playing Victoria. I have nothing to lose, she is world number
one," said Serena, who defeated Azarenka in the Wimbledon semi-finals
last month.

"That's what I love; playing when I have nothing to lose so there is
no pressure. It's fun. No matter what happens I am in a medal round
now so I'm excited."

Azarenka's progress to the last four was more painstaking as the
Belarusian clinched a hard-fought 6-4, 7-5 victory against German
seventh seed Angelique Kerber.

Belarus's Azarenka took one hour and 46 minutes to beat Kerber under
the Center Court roof and, with Serena up next, it was hardly
surprising to hear she hasn't started dreaming of gold medal glory
just yet.