Cloned Nigerian Anchor

Author: Chike Ozohili

  • FCCPC Vows To Probe Death Of Abuja ‘One Chance’ Victim

    FCCPC Vows To Probe Death Of Abuja ‘One Chance’ Victim

    The Executive Vice Chairman, Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, has inaugurated a nine-man investigative panel to ascertain the cause of death of Greatness Olorunfemi at the Maitama District Hospital in the Federal Capital Territory, Abuja.

    According to Irukera, who is also a member of the panel, the Patients’ Bill of Rights would be one of the major considerations that the panel will look at to determine if anything went wrong as well as strengthening the value chain to prevent avoidable fatality.

    Irukera further explained that the bill was aimed at effectively addressing the issue of consumer abuse in the health care sector.

    He said the bill will set a transparent benchmark that empowers consumers to recognize, demand and insist that their rights be respected, while guiding providers about the scope and extent of their obligations to patients.

    “Under the bill, patients can demand rights to relevant information in a language and manner they understand, right to timely access to detailed and accurate medical records and available services, right to transparent billing and full disclosure of any cost and right to privacy and confidentiality of medical records.

    “Others are right to clean, safe and secure healthcare environment; right to be treated with respect, regardless of gender, race, religion; right to receive urgent, immediate and sufficient intervention and care in the event of an emergency and right to decline care subject to prevailing laws upon full disclosure of the consequence of such a decision.

    “The Patients’ Bill of Rights is really just an aggregation of rights that patients have. Different instruments whether ethical codes, legislation, global practices and responsibilities by law. So, it will certainly be one of the considerations that I expect the panel would look at in determining what went wrong if anything went wrong. 

    “Beyond looking at what went wrong, more importantly, how to strengthen the value chain so that where preventable, we will not experience avoidable fatalities and even when fatality is not preventable, if there is anything that can strengthen the process to dignify people I am sure those will be the considerations,” he said.

    Former Vice-President Yemi Osinbajo had in July 2018 launched the bill, which is meant to articulate the rights of patients in the health care sector

    Earlier, the Mandate Secretary, Health Services & Environment, Dr. Adedolapo Fasawe, said the with seven-day ultimatum to submit their report and recommendations will ascertain the clinical status at the time of arrival of the patient Ms. Greatness Olorunfemi at the Maitama Districts Hospital and any progression to and until her death.

    She said the panel will determine the role of parties in the matter and her unfortunate death in order to make recommendations for similar situations like this case

    “This accountability may involve recommending legal actions, disciplinary measures, or policy changes to prevent similar incidents from occurring in the future,” she said.

    She further said, the panel will investigate, unravel and recommend on the way forward to forestall future occurrence.

  • Nigerian Vice Chancellors Celebrate Diamond Jubilee

    Nigerian Vice Chancellors Celebrate Diamond Jubilee

    The Committee of Vice-Chancellors of Federal, States, and Private Universities in Nigeria are set to celebrate 60 + 1 years of their existence and activities. 

    A Programme of Events released from the Office of the Secretary General, Committee of Vice-Chancellors of Nigerian Universities (CVCNU), Prof Yakubu Aboki Ochefu, indicates that the four-day celebration, which is scheduled to kickoff on Monday 9th October 2023, would hold at the Baze University, Abuja, with President Bola Ahmed Tinubu and Vice President Kashim Shettima as Distinguished Guests of Honour, while Honourable Minister of Education, Prof Tahir Mamman would be Special Guest of Honour.

    The President of Nigerian Academy of Science, Prof Ekanem Braide is billed to be the Keynote Speaker in the event to be Co-Hosted by the Acting Vice-Chancellor of Baze University, Prof Kathleen Okafor, SAN. 

    Mustardpoint.com gathered that a Local Organising Committee, chaired by Prof Osita Agbu, has been working round the clock to put a programme in place to ensure a memorable celebration. 

    Day 1 of the events to mark CVCNU @60 is scheduled to kick off at 10am on Monday 9th October with the 0pening Ceremony consisting of welcome comments from the host VC and the National Chairman of CVCNU, as well as goodwill messages from Special Guests. Flag parades and group photographs would follow, just ahead of the official Conference Opening ceremony/Exhibition between 1pm and 1:45pm, all at the expansive Multipurpose Hall of Baze University. 

    Beginning from 2:30pm on day 1, the CVCNU members are scheduled to hold their meeting until 5:30pm during which time the first virtual panel on *”GENDER EQUITY, EQUALITY, DIVERSITY AND INCLUSION(EEDI)”* by Dr Paul Igwe would be taken, to end the day. 

    Day 11, Tuesday 10th October, would be the INTERNATIONAL CONFERENCE ON LEADERSHIP AND GENDER, with the theme: *”UNDERREPRESENTATION OF WOMEN LEADERSHIP IN NIGERIAN UNIVERSITIES.”

    For this segment, Prof David Rugara of Lincoln University, USA, is expected to deliver the welcome address to participants, while goodwill messages would come from Nigerian First Lady Senator Oluremi Tinubu and the Senator representing the Federal Capital Teritory, Senator Ireti Kingibe. The Keynote Address would be rendered by the National President of the National Academy of Science, Prof Ekanem I. Braide.

    Discussants lined up for her presentation include a representative of USAID, as well as former Secretary General of CVCNU, Prof Michael Faborode, and Prof Mrs Nancy Agbe, pioneer VC of University of Mkar.

    After some light refreshments, at about 11am, until 2pm, would be the International Conference Sessions. Panel 1 of this, which is billed to discuss “Leadership and Management of Nigerian Higher and Further Education”, would be chaired by Prof Francis Egbokhare, while Prof Mrs Ladi Hamalai is scheduled to take charge of Panel 11 on the topic “Responsibility, Sustainability, and Sustainable Development Goals (SDGs).”

    The second virtual panel would be incorporated at this time, with the topic “Emancipation, Eliminating Discrimination and Prevention of Violence Against Women and Girls and People With Disability,” by Paul Igwe.

    Between 2pm and 5pm on Day 11 will be a time reserved for the *MASTER CLASS* during which justice shall be done to three issues of paramount importance to University education. The first topic “ARTIFICIAL INTELLIGENCE(AI) AND THE FUTURE OF TEACHING” is to be under the chairmanship of Prof Mrs Francisca Oladipo. The second paper “CYBER SECURITY AND LEARNING ANALYTICS FOR EDUCATIONAL ESTABLISHMENTS” would be chaired by Prof Tanko Ishaya, while “FUNDING AND PROFITING FROM UNIVERSITY SPORTS” has Mr Adedamilola Adedotun as chairman. 

    Day 111, Wednesday 11th October would be taken up mainly with *ROUNDTABLE DISCUSSIONS WITH EXPERTS* between 9am and 11am with the topic “FEDERATING EDUCATIONAL REPOSITORIES”, to be chaired by Prof Chinwe Veronica Anunobi (National Librarian of Nigeria), while discussants would be Mr Joseph Ojo (Director of ICT at the Tertiary Education Trust Fund), Prof Jubril Alhassan (Chairman, Librarians of Nigerian Universities) and Prof Abiodun Adeniyi of Baze University. 

    A special presentation by Lincoln University would be done by the duo of Professors David Rugara and Simon Lilley between 11 and 11:30am.

    Panel 111, “ADDRESSING WOMEN UNDERREPRESENTATION AND ENABLING EDUCATION ACCESS, INCLUSION AND TACKLING SUBJECT SEGREGATION” to be chaired by Prof Aisha Sani Maikudi, while “CHALLENGING GENDER BIAS, STEREOTYPES, DISCRIMINATION AND STIGMATISATION” under Panel 1V, has Ms Philippa Joanne Denny-Gelder scheduled as chair. After this, the third virtual panel will play out with the topic “ENTREPRENEURSHIP DEVELOPMENT AND STRENGTHENING PATHWAYS FOR WOMEN GRADUATES EMPLOYMENT” to be chaired by Prof Enase Okonedo, VC of Pan Atlantic University. 

    After lunch, between 3:15 and 4:30pm, participants would be engrossed with the personal experiences of some of the Vice-Chancellors in a Soapbox topic “EQUITY, EQUALITY, DIVERSITY AND INCLUSIVITY ON OUR CAMPUSES: PERSPECTIVES OF THE OPERATORS”.

    Those scheduled to narrate their experiences as Panelists, under the chairmanship of Prof Umaru Pate (VC, Federal University Kashere), include Prof Charles Igwe (University of Nigeria, Nsuka), Prof Neal Juster (Lincoln University, USA), Prof Fatima Tahir (Bauchi State University), Prof Kathleen Ebelechukwu Okafor,SAN (Baze University), Prof Abdulrasheed Na’Allah(University of Abuja) and Prof Ajith Kumar V.V(Skyline University).

    Between 4:30 and 5:30pm on the third day of the very impactful celebration of CVCNU @60, the Communique Committee of the conference is expected to present a Communique to participants as part of the winding up and closing ceremony. 

    From 6pm a Farewell Dinner/Gala Awards Night would hold. 

    The Co-Hosts/Sponsors of the CVCNU @60 events include the Committee of Vice-Chancellors of Nigerian Universities; Women in Higher Education Leadership (WIHEL); British Council-Gender Equality/Going Global Partnership; University of Lincoln; Baze University; and African Development Institute of Research Methodology (ADIRM) Enugu, Nigeria. 

    The history and activities of the Committee of Vice-Chancellors of Nigerian Universities (CVCNU) dates back to the 1960s when the Vice-Chancellors of the few Federal and Regional Universities found it pertinent to meet and rub minds on the operations of their Schools. Those who started this informal forum in October 1962 were: Professors Kenneth Dike of University of Ibadan, Eni Njoku of University of Lagos, Norman Alexander of Ahmadu Bello University, G. A Ajose of University of Ife, as well as Dr George Marion Johnson of University of Nigeria, Nsuka. They met intermittently to exchange ideas regarding problems in their institutions and how to solve them. More important for them then, however, was how to marshal common positions on implementation of Government policies affecting tertiary education. 

    CVCNU was formally registered with the Corporate Affairs Commission (CAC) in 1994 as “Committee of Vice-Chancellors of Nigerian Federal Universities.” Membership was open to all National Universities Commission approved Universities’ Vice-Chancellors. 

    With the coming on board of State owned and privately run Universities, the Association of Vice-Chancellors of Nigerian Universities (AVCNU) was formed in 1994 to include State Universities. And when, by 1999 Federal Government granted license for the establishment of private Universities, the Association also incorporated them. Consequently, the present various Associations and Committees of Vice-Chancellors from Federal, States and Private Universities are all independent organisations, but are all operating under the umbrella of the Committee of Vice-Chancellors of Nigerian Universities.

  • No Plan To Increase Petrol Pump Price –NNPCL

    No Plan To Increase Petrol Pump Price –NNPCL

    The Nigeria National Petroleum Company Limited (NNPCL) has said it has no plans of increasing the pump price of petrol.

    In a statement posted on its verified X handle, and signed by the company’s Retail Management, it urged Nigerians to ignore speculations about a possible increase.

    NNPC Limited GCEO, Mele Kyari, had repeatedly stressed that the company would not increase the price of petrol from its present N617 per litre.

    “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.

    “Please buy the best-quality products at the most affordable prices at our NNPC Retail Stations nationwide,” the statement read.

  • 112,351 Uncollected Passports Across Nigeria, Says Immigration Boss

    112,351 Uncollected Passports Across Nigeria, Says Immigration Boss

    The acting Comptroller General of the Nigeria Immigration Service (NIS), Mrs. Wura-Ola Adepoju, has revealed that a significant backlog of uncollected passports exists across the 36 states of the federation and the Federal Capital Territory (FCT).

    According to her, as of October 5, a staggering total of 112,351 passport booklets had not been retrieved by applicants.

    During a press briefing at the service headquarters in Abuja, Mrs. Adepoju addressed the concerning issue and shared updates on the passport distribution.

    She noted that the NIS had successfully cleared all 204,332 passport applications that had accumulated over time and this accomplishment is following a two-week deadline set by the Minister of Interior, Olubunmi Tunji-Ojo, for the service to address the backlog.

    Despite this achievement, Mrs. Adepoju emphasized that only 91,981 passport booklets had been collected by applicants thus far. She stressed the importance of prompt collection, as these travel documents are essential for various purposes, including international travel.

    In light of the remaining uncollected passports, the NIS chief urged applicants to visit their respective application centres to retrieve their passports. The backlog not only poses administrative challenges but also underscores the significance of ensuring that applicants receive their passports promptly to facilitate their travel plans and related activities.

  • Equity Market Rebounds, Gains N140bn

    Equity Market Rebounds, Gains N140bn

    Nigeria’s equity market on Thursday rebounded and gained N140 billion following gains recorded by small and medium stocks in the market.

    Market capitalisation of listed equities increased by 0.38 per cent to N36.526 trillion from N36.386 trillion reported the previous day.

    The NGX All Share Index also appreciated by 87.91 basis points to 66570.19 points from 66482.28 points traded on Wednesday.

    A review of the trading activities showed that Wema Bank led the gainers table in percentage terms, gaining 9.93 per cent to N4.65 per share, Thomas Way followed with a gain of 9.74 per cent to close at N2.14 per share, Regal insurance added 8.82 per cent to close at N0.37 per unit, Daar Communications and Royal Express increased by 8.70 per cent to close respectively to N0.25 per share and N0.50 Kobo per unit.

    On the contrary, Champion Breweries topped losers’ chart, shedding 9.87 per cent to close at N3.38 per share, Chellaram trailed with a loss of 9.84 per cent to close at N3.48 per unit, ABC Transport fell by 9.72 per cent to close at N0.65 per unit, APDC dropped by 8.57 per cent to close at N1.28 per share, MCNICHOLS dipped by 7.69 per cent to close at N0.60 per unit.

    Volume of trades increased by 356.485 million, representing a growth 54.22 percent as investors exchanged 1.014 billion shares valued at N4.733 billion in 6959 deals against 657.515 million shares worth N4.597 billion made in 6647 deals the previous day.

    Transactions in the shares of Neimeth international Pharmaceutical led market activities with 657.094 million shares valued at N985.649 million, Oando Plc followed with account of 75.146 million shares cost N771.243 million, Fidelity Bank traded 35.143 million shares cost N288.091 million, Sterling Bank exchanged 24.430 million shares worth N87.369 million while Ellah Lakes traded 19.018 million shares valued at N76.074 million.

  • Liquidated MFBs/PMBs: NDIC Pays N1.08bn To 29,573 Depositors

    Liquidated MFBs/PMBs: NDIC Pays N1.08bn To 29,573 Depositors

    The Nigeria Deposit Insurance Corporation (NDIC) has paid a cumulative insured sum of N1.084 billion to 29573 depositors of the closed Microfinance Banks/ Primary Mortgages Banks.


    The Managing Director, Bello Hassan who disclosed this in his speech at the NDIC Special Day at the ongoing 18th Abuja International Trade Fair 2023, said the payments are still ongoing and depositors with funds exceeding the insured limit will receive liquidation dividends after recovery of debts and sale of physical assets of the closed banks.


    He said following the revocation of licenses for 179 Microfinance Banks and 4 Primary Mortgage Banks by the Central Bank of Nigeria (CBN), the NDIC immediately commenced liquidation of the banks and began disbursing insured sums to depositors within just 7 days of the   closure   of   these   banks.


    He said currently, the Corporation is in the process of verifying and paying liquidation   dividends   to   depositors   and   stakeholders   of   20   closed banks.


    The banks are Allied Bank, Peak Merchant Bank, Commerce Bank, Continental Merchant Bank, Financial Merchant Bank, Fortune Bank, Gulf Bank, Hallmark Bank, Icon Merchant Bank, Liberty Bank, Liberty Bank, Nigeria Merchant Bank, North South Bank, Premier Commercial Bank, Prime Merchant Bank, Progress Bank and Merchant Bank.


    Urging  eligible parties to visit NDIC for more information and download verification forms   at,  www.ndic.gov.ng , he said this   year’s   theme, “Sustainable   Financing   and   Taxation   as   Drivers   for   the   New Economy,”  is   especially   relevant   given   the   determination   of government’s   efforts   towards   achieving   sustainable   growth  by strengthening the financial environment to boost economic growth.


    This, according to him, falls in line with the Corporation’s contributions of ensuring the stability of the financial system by effectively complimenting the CBN in supervising the banking sector and safeguarding depositors’ funds from the adverse effects of bank failures when it occurs.


    Speaking further he said “indeed, Nigerian depositors are our priority and our foundation is built on ensuring the safety and security of their deposits.


    This ideal is encapsulated in our strap line; “Protecting your bank deposits!”. This is crucial for financial inclusion because it gives Nigerians the assurance that   their   money is   safe   and   accessible when   need banks,  continuous   monitoring   and   oversight   serves   as   consumer protection for depositors which enhances confidence in the financial system.   This   acts   as   an   incentive   for   the   unbanked   to   access financial services of licensed banks. “


    He cautioned members of the public of illegal activities of fund managers often referred to as “wonder Banks or Ponzi Schemes.


    He said these entities offer high-interest rates and profits that are too good to be true, leading to devastating losses for many, noting that these “wonder banks” are neither licensed by the Central Bank of Nigeria   nor   covered   by   the   NDIC   deposit   insurance   scheme.


    He encouraged members   of   the   public   to   patronize   only banking institutions with a display of the NDIC Stickers carrying the words: “Insured by the NDIC” in their   banking halls or entrances   and various branches across the country.

  • Fuel Importation: Assist Us With Emergency Palliatives, Oil Marketers Beg FG

    Fuel Importation: Assist Us With Emergency Palliatives, Oil Marketers Beg FG

    The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has warned that unless the federal government provides emergency palliative measures to oil marketers for three months to enable them import fuel, the country would not face an energy crisis by January 2024.

    In a communiqué he read at the National Executive Council Meeting of NOGASA Thursday in Abuja, its National President, Bennet Korie, added that the situation may force many marketers to close shop.

    According to the Union, it will go a long way in cushioning the harsh effect of the high cost of importation and equally bring about reasonable reliefs to the business and cost of living generally.

    While expressing worries that the removal of fuel subsidy and the volatility of the FX market were taking its toll on oil marketers inability to access forex, Korie said there were increasing losses of lives, businesses and jobs with the accentuation by mass shut down of filling stations and packing up of petroleum tankers, all due to unattainable high cost of importation, lifting, transportation and distribution of petroleum products.

    “Similarly, Depot Owners are so terribly affected by the increasing cost of the crude and exchange rate to the extent that many Depots are practically deserted as their owners are unable to secure Bank loans to fund their business due to high interest rates. Banks are not willing to guarantee funds release to stakeholders as a result of the difficulty, instability and galloping rates of foreign exchange and high cost of the Dollar. Many Depots are presently dried up or out of stock, and this is no gainsaying as it is evidently verifiable.

    He insisted that owners of filling stations find it extremely difficult to secure funds to procure products for their retail outlets as both the Independent and Major Marketers were terribly affected adding that filling stations were shutting down because of their inability to secure funds to facilitate orders for their stations.

    The NOGASA President urged the federal government on the maintenance of roads across the country in order to make distribution of petroleum products seamless.

    Therefore road networks and maintenance need to be positively impactful as it will also create thousands of jobs for jobless youths and other restive people in our communities.

    He said the dollarization of the economy was severely harming the country as businesses are dying and the system is not helping us at all.

    He insisted that urgent action is highly required to save our industry from total collapse.

  • Address Nigeria’s structural issues, Oloyede Tells FG

    Address Nigeria’s structural issues, Oloyede Tells FG

    The Registrar of the Joint Admission and Matriculation Board (JAMB), Professor Is-haq Oloyede, has said that for the country to make any meaningful progress, there is need to address the structural issues that continue to retard the country’s growth.

    In his opening remarks at the 7TH Annual Conference of the

    Guild Of Corporate Online Publishers (GOCOP) on Thursday in Abuja, Oloyede insisted that authorities must show leadership in the drive to put the country on the path of sustainable growth and development.

    The GOCOP conference has as its theme: “Nigeria: Roadmap for Socio-economic Recovery and Sustainability.”

    The JAMB registrar noted that with the country undergoing tremendous pressure from numerous socio-economic challenges, it was obvious that the new administration and newly elected and appointed persons at various levels have their jobs cut out for them.

    According to him, these economic phenomena have further put pressure on the well-being of Nigerians.

    He noted that the foreign exchange market volatility, insecurity, kidnapping and a host of other vices and crises have conspired to rob the country of realising its potentials in productivity and economic growth and development and have contributed significantly to the rising level of poverty.

     “The issues confronting us as a nation have resulted in loss of earning assets, decline in the capacity to earn and curtailment of purchasing power,” he said.  

    The Professor of Islamic Studies explained that in planning a roadmap for economic recovery and sustainable development, “we need to address some issues that have confronted us as a nation which have contributed to negative and slow growth, overtime. Some of these factors have contributed in not small measures to high levels of corruption and low productivity in the public sector.

    While noting that the removal of fuel subsidy, managed float of the naira among other policies by the new administration has further worsened the living conditions of Nigerians, he was however hopeful that the new policies will help in turning around the economy and put the country on the path of sustainable growth and prosperity.

    Oloyede, also called on the government to overhaul the wages and compensation structure in the public service to discourage deep- rooted corruption in the society.

    “Unless we are pretenders, we all know that some things do not just add up in the compensation of public servants and most of the public office holders. These phenomena encourage corruption and lack of accountability. It gives room for malpractices, financial impropriety, and malfeasance.  When officers and executives are not well paid and they are entrusted with huge resources of the state, some may resort to helping themselves.

    “I recommend that the code of corporate governance be extended to all major actors in the Nigerian economy. Specifically, the government should come out, without further delay, with a code of corporate governance and make it mandatory for public sector institutions, non-governmental organisations (NGOs) and small and medium enterprises that represent over 97% of businesses operating in Nigeria.

    “When this is done, I believe there would be improvement in governance of government, non-governmental and private entities in Nigeria which would help to unlock their values for prosperity of Nigerians and sustainable development of the country.

    “It is important that our economists should not shut their eyes to the many alternatives to the template of Bretton Woods’s institutions. Not a few people believe that some austerity measures and curtailment of our high taste for foreign products are absolutely necessary in view of the current realities,” he explained.

    He therefore urged the media to partner with the government in order to “attain the socio-economic and political progress we badly need as we cannot treat the media as adversaries and as entities whose health or ill-health shouldn’t concern us.”

  • Analysts Forecast Increased Pressures On Economy As Naira Depreciates By 23%

    Analysts Forecast Increased Pressures On Economy As Naira Depreciates By 23%

    With the naira losing 23 per cent value in the third quarter of 2023, plummeting from N770/$1 at the end of the second quarter to over N1000/$1 by the end of the third quarter at the parallel market, analysts expect further pressure on the currency in the fourth quarter of 2023.

    Meanwhile, the official exchange rate at the end of the third quarter was N755.27/$1, a noticeable drop from N769.25/$1 at the end of the second quarter.

    The widening gap between the official and unofficial rates reflects the persistent scarcity of foreign exchange in the country, as well as the divergent policies of the CBN and the market forces.

    The Central Bank of Nigeria (CBN) has blamed the forex backlog estimated at between $6 billion to $10 billion as the major reason for the currency depreciation.

    At the recent Senate confirmation of the CBN governor, Yemi Cardoso stated that he intends to establish the exact unsettled obligations and find ways to “take care of it” confirming that progress will not be made without clearing the backlog.

    He said it would be naive to think that the CBN will be able to make progress if it don’t handle that side of the foreign exchange.

    “But definitely, the immediate priority will be to verify the authenticity and extent of the unsettled obligation and once we do that, we need to look for a way to take care of it.

    The naira’s weakness has had negative impacts on the Nigerian economy, as it has increased the cost of imports, fuelled inflation, eroding purchasing power, and discouraged investment.

    According to the Head of Macro Strategy at FIM Partners UK Ltd, Charlie Robertson, the CBN may have to devalue the official rate again to align it with the market reality and conserve its dwindling external reserves, which fell from $34.1 billion at the end of June to $33.2 billion at the end of September.

    He noted that further devaluation might be avoided if the apex bank is able to meet its obligations to clear forex backlogs, adding that achieving this might require the government tap new loans from friendly countries.

    Stears Africa FX Monitor, a data and intelligence company, also has predicted a continued naira volatility.

    The company highlighted fiscal policies, external trade, and global market trends, including inflation rates, interest rates, policy events, and geopolitical factors as key factors affecting the naira’s performance.

    Fadekemi Abiru, Head of Insights at Stears, expressed concerns about the naira volatility. “The continued unpredictability of the naira underscores the importance of timely and informed decision-making for businesses and investors in Nigeria,” she said.

    The CBN had removed trading restrictions on the official market in June which drove the naira to a record low of N750 to the Dollar on the official market, down from the previous N477 to the dollar it traded for.

    This was the first time since 2016 that the naira had recorded a big fall on the official market before the CBN introduced a managed exchange rate in 2017.

  • Customer Service Week: Unity Bank Rolls Out Rewards For Staff, Customers

    Customer Service Week: Unity Bank Rolls Out Rewards For Staff, Customers

    As part of activities to mark it’s 2023 Customer Service Week, Unity Bank Plc staff and customers will win prizes while participating in engagement activities. 

    The week-long celebration which runs from October 2 – 6, will see the Bank also celebrate the exceptional teams in its over 200 branches nationwide rewarding outstanding staff members, while reflecting on the theme of this year’s event – Team Service.

    To make the week memorable and exciting, all branches of the Bank will engage in several activities that reflect the importance of teams in delivering outstanding customer service in the Bank, while customers will receive cash rewards by taking part in online and offline special offers.

    Commenting on this year’s Customer Service Week celebration, Unity Bank’s Managing Director/Chief Executive Officer, Mrs Tomi Somefun while congratulating frontline teams and our customers reenacted the “Bank’s Service Charter which provides the benchmarks, culture and values as well as performance standards for upholding service excellence and commitment to our customers.” 

    While describing the customers as the Bank’s lifeblood, Somefun said: “We celebrate our frontline teams for strongly and meaningfully reinforcing service excellence and on this score, our Bank does not take for granted your choice to Bank with us as we understand that choosing us is because of our shared values, commitment to excellence and exceptional service to you at all times.”

    “As we look to the future, we pledge to remain customer-centric, embracing innovation to serve you better and therefore make your satisfaction our top priority,” Somefun added.

    Also speaking, Chief Customer Service Officer of the Bank, Titilayo Abraham said: “This year’s theme, “Team Service” which incidentally is one of the bank’s core values could not have come at a better time with all the challenges being experienced in the banking sector. 

    “As a result of this, we plan to have team-focused initiatives to laud and acknowledge the spirit of teamwork across the Bank. The intent is to endear our customers and cultivate a positive work environment among staff where every team’s contribution is not only recognized but deeply valued and applauded. In addition to our team-building sessions, we will have the team appreciation Wall of Fame, photo booths and themed backdrop banners at selected branches.”   

    She added that “a significant highlight of this year’s celebration is the recognition of outstanding teams” because of the Bank’s firm belief “that investing in the development of our teams is essential to our collective success. The recognition serves as a small token of the Bank’s gratitude, designed to acknowledge the invaluable contributions and camaraderie that exists among teams”.

    The Bank continues to prioritise the customer over the past few years through increasing focus on digital strategy. For instance, over the past three years, it has maintained its commitment to customer service excellence by introducing innovative digital products such as the USSD banking *7799# in local languages, and mobile banking solution, UniFi which have boosted customers’ access to the Bank’s services, while facilitating convenience.

    These electronic banking channels are constantly updated with new and exciting features to put the customers first and make their banking experiences top-notch in the industry.